by Charmaine Anthony
It is often proclaimed in business circles that an organisation’s human resources are its most critical assets.
Other factors, such as land, machinery and finance also add to an organisation’s resource portfolio. Unlike other primates, humans have the unique capacity to use their discretionary judgment and their physical, mental, psychological and emotional abilities to drive the productivity of these other resources.
This idea has been articulated by numerous economists who generally assert that it is pointless for an organisation to acquire the most modern buildings and equipment or boast about its sound financial position if it doesn’t enhance its ‘human capital’ by using the collective knowledge, skills, experience and competence of its workforce in the most effective and efficient manner.
Now, more than ever, businesses are focussed on growth, profit and sustainability. But here’s the million dollar question; can a business achieve sustained growth without the right calibre of employees, equipped with the requisite knowledge and skills?
Where can we find such employees? If we can’t find them, can we create them? Once we’ve got them, how do we retain them? These are just some of the questions that employers need to consider when building their workforce. The answers are never straightforward nor is there a ‘one size fits all’ type answer. The process of building a competent, productive workforce must be aligned with each individual organisation’s needs and the context within which it operates.
Getting it right will not be easy!
Here’s a good platform to start: first determine your organisation’s current position versus the desired position, then conduct a gap analysis between the existing Human Capital and the required Human Capital to attain the desired position. This will give you a clearer picture of your employees’ skills deficit and act as a catalyst in helping you decide whether you should buy (hire) the needed skills from the labour market or internally develop (train) potential ‘star’ employees to enhance their skills. Whatever you decide, it must be a prudent and operationally sound investment, one that is geared towards generating the expected long-term returns.
It is critical that Human Resource Management play a pivotal role in shaping and driving the direction and performance of your business.
Whatever your business model, if your aim is to achieve optimal performance, always strive to:
- Attract and employ the right calibre of people
- Compensate them fairly
- Engage and motivate them
- Set them realistic goals and give them the tools to attain those goals
- Develop their skills set (training, coaching, mentoring etc.)
These are just a few tips on how you can develop and retain a competent workforce, which, in turn, will help to increase the efficiency of your employees and enhance your business’ performance – financial and otherwise.
See how it works for you!
