Human capital is the skills, knowledge, and experience individuals possess that are assets to their company. Developing human capital is important in helping businesses meet the demands of ever-increasing information, technology and the need for highly skilled people.
Here are some ways to enhance your business’s human capital and keep employees engaged:
Invest in people’s development. It is good business to invest in people’s learning and development because employees who can work at their full potential will help grow your business. Provide opportunities for your high potential people to advance their leadership skills, keep them challenged and engaged while grooming them to become your future leaders. Show people what their career path can be as they progress to higher levels in your company.
Provide quality coaching and feedback. With coaching, you “ask” versus “tell”. People learn more readily and become more self-reliant when they are guided to a solution by being asked coaching questions versus being told what to do. When you provide feedback, be sure it is timely, specific and encouraging so people can course correct and do things better the next time. Conducting consistent and thorough performance appraisals is key to your company’s human capital management. Focus on strengths that people can leverage to maximize their performance in addition to developmental goals.
Provide a link between your business goals and your employee’s goals. People want to feel that their work matters. When company-wide goals are set, show them the line of sight between your company’s goals and their goals. Take steps to provide clear expectations of their work responsibilities as well as the reasons “why” their work is important. Be sure to communicate your company’s progress on established goals and recognize people for their efforts in helping achieve them. A company with employees aligned on goals ensures that the work of their people is being effectively utilized. Plus, employees enjoy a greater sense of fulfillment when they know they are an integral part of your business’s success.
Following these strategies to invest in your human capital will help you accomplish your business goals as you move into the future.