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Human Capital Management Strategies that Address Your Business Needs

A major factor in our organisational development offerings here at Orgro entails human capital management, which is crucial to a company’s growth and success. Regardless of a business’s brand, identity, service offerings, available technologies, and products – its greatest asset remains the people within the business. Ensuring the continual growth and empowerment of an organisation’s people, therefore, remains a high priority as the company’s foundation is only as certain as the expertise of those who steer the ship. Could your organisation perform better? The answer is a resounding yes – and the way to achieve this successfully is by investing in your team. Orgro offers human capital management interventions in a way that creates meaningful change and facilitates essential growth.

The Difference Between Human Resources and Human Capital Management

Human capital is a term that encompasses the value an employee adds to an organisation. This value may consist of their personality, talents, skills, experience, strengths, and other stand-out characteristics. Human capital management is, therefore, a set of practices that optimise this value in an organisation. The goal of human capital management is to provide a company with as much economic value as possible through the people it recruits, trains, and manages.

Human resources management, on the other hand, has a similar, but different, goal. The objective of human resources is to manage the day-to-day operations of employees through policies and systems. It takes a closer look at the individual providing value to the company. Human resources is about managing employees. Human capital management is about returns on investments and managing economic objectives by valuing employees.

Practices Commonly Found Within Human Capital Management

Some people see the term as a misnomer, as it leaves the impression that employees are objects valued purely on how they benefit the company. The truth is that human capital management is a partnership between employees who best fit a role in a business and the business that is looking for the right recruit. This benefits both the employee and the company because the employee is recognised for their strengths and how they can help the company grow. Team members, therefore, feel seen and useful as they do work that is meaningful to the company. Some of the practices commonly used in human capital management include:

Recruiting, hiring, onboarding, and training.
Workforce planning.
Payroll and compensation planning.
Managing time and attendance of employees.
Performance and workflow management, as well as reporting and analytics.
The administration of employee benefits and retirement offerings.

How Effective Strategies Can Grow Your Organisation

By extracting the best out of every employee, a business is given its best shot at growth. This begins with hiring the right individual for the job and orienting them within the system to flourish in their role. It helps the organisation meet its objectives of filling positions with exceptional employees, and it offers employees a more meaningful career. Instead of swimming upstream, employees flow in their talents and strengths, passionately giving back to an organisation that recognises their worth.

By offering impactful “people solutions” and targeted interventions, we at Orgro can assist you in your pursuit of unparalleled growth and people-centred strategies that turn your vision into a reality. To learn more about our organisational development services, contact us here.