Making the Case for Human Capital Solutions

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Its time for new management thinking when it
comes to making decisions about people. Human
Capital Management (HCM) solutions include
recruitment strategy, hiring methods, training
and coaching programs, incentive plans, and
succession planning, promotion criteria, will
determine your business outcomes.
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Throughout my 20 years working in human resource
consulting, I have seen much more guesswork
involved in HR decisions, than than data-driven,
strategic, knowledge-based decisions! Why is that?
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Perhaps the most obvious reason that many
companies struggle with underdeveloped human
capital strategies is that they are not a
priority for the current Senior Managers.
Companies spend a large share of their revenues
(e.g. usually about 60) on salaries and benefits.
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Despite this high spend, many managers cant say
what kind of return on investment they are
getting from their human capital management
strategies! We challenge you to name one other
department in your company that can justify such
a large spend without a very clear understanding
of the potential utility of the spend and the ROI
outcomes. Your employees are your most valuable
assets. Unlike technology assets, or market
strategies, human assets cannot be copied by your
competition.
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Therefore, it is sound business reasoning to
regard your employees as a critical component of
your competitive advantage, and as assets that
should be invested in.
The Human Capital Solutions are Here
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In many companies though, human capital strategy
has found a way to fly below the radar. Again,
why?
The answer is simple a lack of awareness or
knowledge of the assessment tools and monitoring
processes for Human Capital Management. As
companies large and small scramble to embrace the
advantages of the overwhelming amount of data
available to them, its mind boggling to think
that Human Capital Management would be an
exception to use this available data.
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While we have had many of these assessment tools
for many years, including pre-employment
screening and performance-based management
systems, advances in technology now allow us to
monitor and gather our human capital data,
analyze that data, and draw accurate conclusions
that will positively impact the companys bottom
line.
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Small, medium, and large companies have all
benefited from the Human Capital Management tools
and systems we help develop with our clients.
Contact us today to learn what tools will help
you build a profitable human capital strategy!
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Human Capital Management Questions You could be
Asking
Throughout my career, I have time and time again
seen the need for companies and hiring managers
to ask themselves these questions about their
human capital management strategy. Take a moment
to really consider your response to each of these
questions, and challenge yourself to find any
holes in your current reasoning.
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Should people assets be the first to get cut
during a slow economy? Who currently owns and
manages the workforce strategy function? What are
the estimated dollar values of your companys
human assets?
Where is the companys directory of human assets?
What is the Return on Investment in people at
your company? Human Capital Management (HCM)
captures new value from workforce metrics.
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Insights gained can be translated into lower
costs and higher returns for owners and
shareholders. Investments in people will allow
senior managers to obtain a competitive advantage
that other companies cant copy.
The Human Capital Solutions
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