Monday, May 05, 2008

The Power of Human Capital

Ever wondered what mammoth corporations are made up of?
While secure technology, high net business operations and a global presence are things that every organization likes to add to its roster of achievements, human capital although not usually highlighted plays an extremely huge role in shaping the day to day operations of an organization.
Due to increasing competition and hitherto unseen pressures, organizations across the world are investing in their workforce like never before and human capital has taken a front row in many domains across industries.

Winston Churchill once remarked, “The emerging empires are the empires of the mind.” Truly, human capital has a huge value in today’s work place and a never like before line of people are ‘adding value’ to themselves by shaping themselves as domain experts and constantly updating themselves by undergoing trainings, competitive research forums and many other development programs. The emerging workplace is one that will demand more out of a person than what is already expected and in a very constricted timeframe. It is expected that the average individual possess sound analytical skills and a relevantly updated domain expertise so as to perform better at the workplace.

Businesses are ever transforming and so are its people who eventually clinch million dollar deals for their organizations. On-demand business is increasing many fold and experts are required in order to handle new acquisitions or forge strategic business partnerships that are expected to deliver better than competition. The role of an average office goer has thus evolved many a times and is subjected to change with times. No lines can be drawn with regards to role of operation or functioning as roles often transcend many different business functions. It is important to align oneself to the business objective closer than ever before in order to be part of a race that is played out on the industry factored turf everyday.
One’s role apart from basic functioning as per one’s key responsibility areas also includes one to interact with a host of people from outside the frame of one’s organization such as Clients, Strategic partners, Government Personnel, Media and so on. It therefore requires one to be constantly re-inventing oneself and thinking in a new direction so as to ‘deliver’ faster than before.

Human capital is a great asset to any organization as human capacity and talent cannot be easily measured or replicated. Businesses often find themselves in turmoil when key personnel move out of fold. Transition is not always easy and takes time to bring about the normal flow of operations. Therefore, organizations must spend extensive amount of time and effort to bring within good talent and also provide a healthy and conducive environment to retain its skilled workforce.
Often red-tapism, bureaucracy and a unsatisfactory work environment combined with people issues force good people to seek brighter avenues.
If issues are not addressed to directly, within the right framework and in a minimal amount of time, attrition can be a problem that managers and organizations will keep groping in the dark about.
While people work in organizations, they usually work with / for people!

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