Human Intellectual Capital And Its Advantage
As a key component of the company’s hiring process, Human Resources is tasked with finding and retaining the talent needed to fill positions within the company that will help the company continually progress.
To do this, there must be some sort of value applied to each position both new and old in relation to how it affects the business overall. Even so, certain positions should only be for a brief period of time while others need to be permanent if only for consistency.
As you look toward 2020, it’s time to come up with some form of evaluation to measure such crucial data.
Every company is different, therefore every answer will be unique.
Though this does hold some sway over how you should approach building an intellectual capital metric, there are specific steps you can take to begin your preparation:
- First and foremost, gather what data you do have on all of the positions.
- From turnover rate to how directly linked to the survival of the company they are, test each out in an imagined scenario.
- Would the company survive without them?
- If so, how long?
- Could their job be managed by another department more efficiently?
- Through such in depth analysis, you will begin to see what roles, exactly, are vital.
Now that you have determined the pockets of capital, it’s time to look toward the future.
Spend time with management to gain an understanding of where the company is planning on expanding.
If it is into the technology sector, plan to bolster your tech department.
Likewise, if they want to push sales harder than ever, know that you’ll have to reach out to sales talent at some point during the year. The sooner you plan for this, the better chance you will have to snag the best talent before any other company.
Finally, do not be afraid to design jobs that are only meant to be temporary!
If a department needs to be restructured, the job ends when the restructuring is done.
Outside talent can benefit a business in these cases, as their jobs are completely dedicated to going around ‘fixing‘ departments and then moving on.
These professionals can bring years of expertise and ideas that HR usually does not have to time to develop nor implement. This course of action will only serve to strengthen the internal structure and capability of your company!
Planning for the future can never start too early.
In many companies, plans are laid out for well over five years in advance. Nowhere is this more beneficial than in planning to snag the best human intellectual capital you can find.
These new recruits, be they permanent fixtures or temporary fixers, add nothing but the most competitive edge to your business model so long as they are well-placed in the most vital component positions of the company.
© New To HR