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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We recently contacted LSA Global to assist us with a unique training request. We gave LSA a very short deadline and LSA custom designed a training program to meet our exact requirements within the limited time allotted to them. We found their facilitator to be well versed in the subject matter and very credible; the design provided practical and valuable information to our team of managers. I highly recommend LSA Global, particularly in the area of management training.

Julaine K. Souza
Senior Vice President

I continue to be impressed by the level of leadership development and management expertise and quality of advice and facilitation that LSA has to offer. What a smart and client-centric group of great people who really know how to help leaders attract, engage, develop and retain top talent.

Tracy Esposito
Director, HR Business Partner

On behalf of Roche and my staff I would like to sincerely thank you for your help with this. The English as a Second Language (ESL) assessment and coaching that you provided for our team was a great success.

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Roche

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Kortney Riddle
HR Manager

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 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.

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Director, Team Development

The Managing Virtual Teams program was extremely valuable. Your consultant/ facilitator’s fundamental knowledge of Synopsys as a company provided an incredible base to build upon while tackling the complications of managing and working with globally distributed teams. My team walked away walked away with highly useful practices and tools. It was an excellent use of our time.

Debra Martucci
Vice President, Information Technology

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

LSA’s consultant designed and delivered a half-day team building solution for our recent conference. It included careful customization to integrate the design with our new mission and values. Everyone had fun and identified key issues with our teamwork. Altogether a great program!

Bob Ward
Director of HR

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 LSA Global team was very receptive and flexible to our needs every step of the way. Their staff and facilitator demonstrated attention to detail, responsiveness, and professional courtesy. The participants were thrilled with the outcome and rated the communication skills workshop and the facilitator as ‘Excellent’. I’d highly recommend working with the LSA Global team to meet your professional development needs.

John Mastrorilli
FRDP Leader

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

LSA’s Employee Engagement Consulting and Survey work has provided critical visibility into: how well our people are holding up under the general economic environment, as well as, the specific challenges that face biotechnology companies in their efforts to discover and develop new medicines; their level of alignment and commitment to XOMA’s Vision and mission critical strategies; how leadership practices and management systems support an environment that engender commitment, and the specific actions that our leaders can take to improve on areas that are important to our people. I highly recommend LSA’s employee engagement solutions.

Chris Wells
Vice President, HR and IT

I highly recommend LSA Global to anyone who is looking to improve individual or organizational effectiveness through their top quality programs and broad range of expertise.

Greg Pappas
VP of Human Resources

We have worked with LSA Global for our learning and development needs and have always had great success. They helped us recently with customized Management Workshops that we held for the second time. It was fantastic, and I would highly recommend LSA to anyone that is attempting to get immediate and impactful improvements.

Mary Johnston
HR Manager, BU Radiology Informatics

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