Human Capital: Your Most Important Asset

The most important asset for any business is its people. Human capital consists of the knowledge, skills, and health that people invest in and accumulate throughout their lives, enabling them to realize their potential as productive members of society.
Human capital is considered an organization’s most important asset because without humans, there would not be anyone to sell the company products and services, manage the company daily operations or handle customers effectively. An organization will only be able to go as far as the people who are driving it.
In today’s market the key focus for most businesses is how to maintain their competitive edge.
At the core of their strategy is transformation and most importantly transformation of human capital. The three characteristics that define human capital transformation are:
- Leaders, managers, and employees work together to create and deliver effective people-centered programs that uplift employee experiences.
- Organizational processes and technologies work harmoniously in a way that maximizes results for a business. Human Resources is also pulled into the loop, no longer existing in an isolated silo.
- All processes internal to the organization are completed at minimal cost and serve to further the company’s overall objectives.
To minimize the number of roadblocks while transforming human capital a company should be able to answer the following questions:
- What are some ways to leverage technologies and processes in a way to help your employees succeed?
- How do you ensure the work culture is employee-first and motivates top performers?
- Do you have the resources and process in place to engage employees from the moment they onboard to years down the line?
- Does your company have methods for bolstering organizational resilience and managing market change?
Why does it matter?
Everything from company culture to internal workflow systems and procedures heavily impact employee well-being, along with your ability to effectively harness the talent in your workforce. Transforming your organization’s approach to employee management requires you to identify and meet the deep human needs of your workforce.
The easiest way to go about it is by evolving your company’s culture from the topdown. Make changes to your entire organization’s framework. Many psychological needs are satisfied by empowering, educating, and engaging your workforce.
Solving the human capital equation is no easy exercise. It requires formulating and executing a human capital strategy specifically designed for your business. The most challenging step is getting started. Let us help your business be successful.

Chris Mitchell
Managing Principle | MBA, CIA, CISA, CCSA