2022 is the year that your people become the undisputed champions of your organisation’s success.
The people who constitute your business should be your leading focus as you plan for the future of work. People help you to build and carry the culture of an organisation, they are the skills and innovation that your business possesses; investment in maintaining all of this needs to be a priority.
“Fast-growing companies spend more than slower companies on intangible assets such as brand, skills, and knowledge.”– Mckinsey
Although the people in your organisation are tangible, their skills (hard and soft), knowledge, personalities, education and experiences that they inject into the hive mind are, in fact, intangible. People and their skills are the intangible assets that can shape a business, and its culture and add immense value along the way.
The workforce increasingly desires an employer who is willing to invest in them and their future; staff retention is an issue for many these days and showing investment in staff is one way to build a sense of mutual loyalty.
The question is, are you currently recognising and actively investing in these assets?
Raising your human capital
What does the investment look like in real-time?
Continuing and developing the training of all employees ensures that your human capital continues to develop and grow. With skills gaps to contend with, and digital transformations underway, the benefits of training and reskilling staff are clear for the employer and employees.
This training may be in soft skills or hard skills, but whatever training may be genuinely useful for your workforce to exceed in their roles is something you should at very least be considering.
Budgets for some smaller businesses may not allow for this, in which case, internal skill-sharing can be optimised, with staff encouraged to share their own knowledge with team members.
Onboarding is a huge part of the employee experience and something which can be optimised to ensure that the best skills are welcomed into the organisation. From the application stage, through to their first and fiftieth month in the role, are you looking after your people? This begins before the first day, through offering support from the very first contact with your organisation, sparking a positive relationship with your newest members of the team but also allowing you to get to know all of the positives that each individual is bringing to the business.
This may be what most people think of when they hear ‘looking after your workforce’, this and pay or perks; yet still, even post-pandemic, we are seeing companies underperforming on this front. Nurturing your employees’ experience by taking care of their well-being needs improves performance, staff turnover and job satisfaction, not to mention improving the health of employees. Millennials and Generation Z value the kind of working environment they choose highly; investing in creating a positive, progressive company culture that supports, values and cares for its employees is essential for attracting the very best skills and assets.
Equality and Inclusion
Another highly ranked priority for younger generations who are shaping the future of work; equity and inclusion, from pay to opportunity and social integration in the workplace should be on your agenda. Diversity and inclusion create innovation, better-rounded arguments and better-rounded approaches to problem-solving. Focusing on this from the onboarding stage onwards can ensure you’re investing in the very best human resources and not limiting the company’s success through any possible unconscious bias or unnoticed barriers to entry.
Investing in your human capital benefits problem solving and innovation, staff retention, company culture and skills gaps, everything that an agile organisation needs to thrive, could you be investing more into yours? Chesamel work with businesses to grow their talent and manage their teams, if you’re looking to invest in your human capital today, contact firstname.lastname@example.org.