An organisation’s strongest asset is always it’s people. In more recent times, the term human capital provides an extra dimension as to how the human resources (HR) of an organisation is viewed. Human Capital is viewed as the collective resources of employees in an organisation including their competencies (knowledge, skills, personal attributes), experience, educational qualifications etc. More importantly, it is viewed as an asset to an organisation and how this asset can be optimised to realise their full potential for the organisation.
Organisations looking to grow often find themselves faced with some of the following Human Capital challenges:
- Lack of a strategic human capital development plan.
- Lack of relevant expertise/resources to implement a strategic human capital roadmap to support business growth plans
- Inability to fully mobilise its human capital to achieve their maximum potential due to various reasons including (but not limited to) the lack of a competency framework, HR policies & processes, talent management know-how (including talent acquisition, retention, and reward)