According to the World Bank, human capital is everything that people have to help them “realize their potential as productive members of society.” This article outlines the relevance of this increasingly popular topic, and explains how engaging employees through surveys is a great way for organizations to know what human capital their employees have, and what needs to development in order to make them future proof.
Become more successful by listening to Human Capital
What is human capital?
An organization’s human capital consists of all its intangible assets. This includes the skills, experience, and knowledge (both professional and personal) that employees take to work with them every day. Human capital incorporates practical things, like the ability to use certain software effectively, and it also refers to more subjective qualities, such as good communication skills.
Effectory offers the perfect software solution to any organization wanting to tap into and build upon its human capital. With our suite of employee surveys, managers and team can find out exactly what intrinsic skills a workforce has, and what they need to build on these.
Human capital includes the education, health, wellbeing, and communication skills of an organization’s employees. While these may seem like secondary concerns to some, they are in fact crucial to any success. Productivity is highly affected by the level of such qualities.
How to gather feedback from your employees
The definitive checklist for creating your employee engagement survey.
DownloadDevelop human capital by surveying employees
Employees know what skills or expertise they’re missing. They’re the best people to ask about what training or assistance they need. Check in with employees to ask them:
- What skills are you lacking?
- What are you needing to improve your performance?
- Are there any qualities you want to work on?
- What is causing you stress?
Through questions such as these, organizations will find out exactly what is on their employees’ minds. Based on the results, managers and team leaders can plan educational opportunities or wellbeing sessions that are perfectly aligned with the workforce.
The link between human capital and employee engagement
Increasing human capital improves employee engagement. According to a recent whitepaper on employee engagement, employees who feel that they have enough skills for their work report being +27% more engaged than their counterparts. On top of that, when employees can work autonomously, there is a +29% boost to engagement levels.
To work independently, employees need the right skills at the right time. That’s why human capital development is an important area for management and senior staff to think about.
What’s more, human capital depreciates if certain skills aren’t maintained or technological or industrial progress overtakes an employee’s knowledge base or skillset. Listening to employees will keep managers and HR on top of and ready to respond to these sorts of challenges.
Global Employee Engagement Index™
A comprehensive overview of employee engagement with benchmarks from 57 countries with essential lessons for your HR strategy .
DownloadA continuous listening strategy is the best way to build human capital
For over 25 years Effectory has been helping organizations around the world listen to, learn from and lead their employees. Through that process, organizations large and small have gained the insights and opportunities with which they have increased the power of their human capital and driven their success. Having a workforce that is bursting with skills and expertise the perfect way to be future proof.
Our HR software is easy to use and perfect for any organization or team. We believe in the power of continuously listening. This means building a listening landscape where employees are listened to often, and actions are taken to work on feedback. This method is the perfect way to keep track of the human capital in a workforce, and to know exactly when employees needs to build their skillset, and what competencies they’re missing.
Ready to embark on your listening journey? Check out our plans.
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