Don’t Neglect Human Capital if You Want to Grow

Neglect Human Capital

Do You Invest In or Neglect Human Capital?
At most companies, more time and energy is spent investing and analyzing the financial end of things rather than looking closely at the human capital side of your company – how you attract, develop, engage and retain the talent required to execute your strategy.

Financial Health Matters
Don’t get us wrong. You need to keep a careful eye on the key indicators most important to the financial health of your business.  In fact, if the business is not growing and making money, it is very difficult to attract, develop, engage and retain the very talent we are referring to.

People Health Also Matters
Our point is that too many businesses spend too little time evaluating and taking care of their human capital. Our employee engagement research suggests that too many companies neglect human capital compared to financial capital.

Unless you invest in your employees by choosing them well, developing them in a way that supports your business strategy, engaging and retaining the best ones, you will eventually suffer financial consequences.

It is at least as important to invest wisely in your employees as it is to be smart with the way you invest your hard-earned investments and profits.

How To Better Manage Human Capital
What should you be doing to better manage the talent, time and energy of your workforce?  Do just what you would do to better manage your business finances.

1.  Apply People Metrics
Define relevant, meaningful and clear talent goals that are aligned with business priorities and diligently measure progress. Do you want to raise the level of performance? Then determine what behaviors define success, make your expectations for performance clear, and then assess those behaviors regularly.

Do you want to know how well you are retaining your top talent? Then identify those “A” players and monitor their engagement and retention.

2.  Invest for the Future
As part of your strategic plan for the business, evaluate what skills and what competencies will be most critical for future growth. Then decide whether you will hire for those skills or build them internally.

Yes, this will take time and money. But you need a workforce that can meet the challenges of the future. And don’t forget succession planning. This is another part of human capital development that puts your best talent where they need to be.

3.  Keep Track of Progress
Monitor and review performance so you know where people stand and if you are getting the best from them. Be sure that your team managers know how to coach for improved performance and that they are held accountable for the results of their team.

4.  Recognize and Reward Success
Just as you should reap the rewards of sound financial investments, make sure your best workers are rewarded. And see that your leaders are rewarded for building strong, effective teams.

How good are your leaders and managers at hiring, developing, engaging and retaining the best players? They deserve to be compensated for building human capital value through developing employees who can make a real difference.

The Bottom Line
Do not neglect human capital.  When you can apply the same measure of discipline and the same amount of attention on your human capital as you do on your financial capital, you will greatly enhance your chances of success.

If you want to learn more about what it takes to wisely invest in human capital, download Why Talent Is Surprisingly Only 1/3rd of the Talent Management Recipe for Success

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I have worked with other training companies and found it to be more of a seller/buyer relationship than one of matching the right expertise to our business issues. That’s what LSA does – ask the hard questions, listen, and understand our business needs. We receive the benefit of their expertise from assistance with personal development plans to enhancing team performance, to looking at enterprise-wide challenges. It’s all about helping our business succeed as we grow. Right now, LSA is providing great ideas, a fresh approach, and valuable guidance as we develop our management team and accelerate our client relationship management results.

Kristin Westland-Kaune
Director, Team Development

LSA helped us design and deliver a blended learning solution for our leaders to help drive our growth plans in a way that aligned with our specific culture and values. LSA understood our business, had deep expertise in the content areas, tailored the programs to fit our specific needs, and delivered great results. They constantly strive to deliver business impact and align their solutions with our business initiates, culture, and performance management systems. I highly recommend them to anyone looking to take their leaders to the next level.”

Beth A. Taylor
Vice President of Human Resources

Thoratec

The Next Generation Management Development courses have helped me communicate more effectively with my peers and teammates. By utilizing effective communication techniques such as clarifying and confirming, and asking open ended questions, I have been able to clarify and understand information in situations where I would have otherwise asked limited questions and made false assumptions.

Robert Breckner
Firmware Engineering Manager

In the Next Generation Management Development courses, I was trained with skills and tools that have made me and my team more productive, motivated, and successful at communicating with other departments.

 

Kevin Ashman
Firmware Engineering Supervisor

We partnered with LSA to pilot a customized behavioral interviewing program to help ensure that we continue to hire the best and brightest as we continue to rapidly scale. LSA’s ability to understand our business and our unique culture combined with their desire to ensure that the best practices framework truly fits our performance environment and is highly adopted by our people is a real blessing. Most other firms want to just ‘give you training.’ Not LSA, they are focused on helping me hit our hiring forecasts and attract A players.

Jennifer Remling
Director of Global Recruiting

AKQA

LSA’s approach and ability to bring the best resources to eBay has been a great asset. They really focus on helping us succeed in any way they can and are very flexible in meeting our management and talent needs.

Mike Normant
Learning & Development

ebay

LSA exceeded all my expectations. We interviewed 7 potential training and consulting partners and selected LSA due to their expertise, flexibility, and breadth and depth of solutions. We were able to construct a management training course from the modules most appropriate to our needs, and are able to provide additional training from their well developed portfolio of experts. Our managers galvanized as a team throughout the session and are better prepared for the rigors of a competitive market.

Mitch Mandich
CEO

Edify

I consistently look to LSA Global when I need custom programs put together for my client groups. I can always count on LSA to do a thorough needs analysis and to put together spectacular programs that are well received. Their management development and performance management expertise and professionalism make them one of my top-rated learning and development partners.

Stephanie Webb
HR Program Manager

Rambus

Congratulations on your pro-activity in establishing this program and developing such an effective New Employee Orientation course.

Farhat Ali
President and Chief Executive Office

Fujitsu

I am very impressed with the quality of work and talent. LSA did a great job of listening to my needs and providing the exact management training program expertise I needed to get the job done.

Don Pryor
Director, Business Planning & Analysis

For our go to training outsourcing partner, LSA provides exactly what we want. As always, they deliver outstanding work!

Elizabeth Siebert
Director, Organizational Excellence & Development

Intuit

Our company engaged LSA to do a specialized “train the trainer” program, and the consultant’s performance outdid our exceptionally high standards for such a program. Very crucial to the success of this program was the work done upfront to discuss our needs and to interview key members of our organization so that the program specifically met our goals. Our facilitators continue to comment on the success of the program. Thanks also for the follow-up.

Frank Abbott
Chief Financial Officer

We recently partnered with LSA Global to offer our Supervisors and Managers a customized two-day management training program. Everyone who attended said it was by far the best management training program they had ever attended. The content was rich and highly interactive. The case studies were relevant. Each participant walked away from the training much better equipped to lead their teams.

Jeff Coon
Director of Human Resources

LSA helped change our entire culture around meetings, making them more effective and efficient, thus enabling us to concentrate on driving more business.

Terry Wassman
VP of Human Resources

We partnered with LSA Global to help us invest in our people in the areas of performance coaching, diversity, and inclusion. They focused on helping us succeed and were very flexible in meeting our specific needs. LSA Global exceeded my expectations from a speed, quality, and value standpoint. I would recommend LSA Global to anyone looking for a true business partner.

Anita Luckinbill
Director, Human Resources

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