Companies have to learn the ways to improve human capital in order to ensure that their invaluable asset, human capital, is not under-utilized or underestimated. Successful companies are those that understand the importance of managing and organizing the use of its human capital. If the human capital is to function as expected, and to ensure that they are equipped with the skills necessary proper employee training programs have to be enforced. The key is to make each employee feel his service is invaluable to the company, motivating them, make them feel proud to be working for an ethical and reputed company by following strict guidelines and by giving them incentives to give their job their best effort.
Some companies improve their human capital by hiring intelligent students from India and china etc. to prevent this, good education can be given to our kids to ensure a sure fire way to improve human assets. Human capital is judged based on his productivity, knowledge, sociability and the way he uses his skills and all that he has been taught.
Ways to Improve Human Capital:
Education and Training: Some companies provide constant training and sponsor the education of their employees knowing that employees need to keep updating their skills to meet the challenges of new technologies and innovations at work. When the employees are trained, their work efficiency improves, improving productivity thereby benefiting the company as well as improving the human capital.
Monitoring Performance: To conduct periodic tests to determine the ways to improve human capital. You can learn if your human capital heed your advice and take steps suggested by you to improve their work or implement new skills they had recently been trained for.
Hiring Qualified People: When qualified people are hired, the human capital will improve, as they know their job and will perform it without wasting time in learning and understanding what has to be done.
Motivation: When companies offer incentives and other means of recognizing the talents of good employees, by promoting them or offering a salary increase, it will motivate them and make hem perform the best they can.
Never Under-Utilize Human Capital: Never under-estimate or under-utilize your human assets, make them know they are instrumental in your company’s growth and this will help boost morale. If you show that, you care and nourish your human capital; it will surely be reciprocated and can be one of the best ways to improve human capital.
These are just a few ways to improve human capital. There are firms offering services as well as products to help new business run a successful business.