Are your Human Capital Needs Aligned with your Growth Strategy?

By Rick Cassidy

Most modern executives can agree on one thing; a better-organized workforce will channel its dedication towards better outputs. According to a global survey, more than 2,000 executives (both high and low-performing) give priority to the relationship between workforce and financial achievements. To create a successful human capital team, they must evaluate all the variables that are aligned to the company’s ability to uphold its strategic objectives. With quantitative and qualitative initiatives, they can easily attract and nurture human capital.

So, what are the roles of an executive team?

• To facilitate the implementation of the organization’s plan from the time it was drafted to the end—Consistency is vital in achieving an organization’s set goals
• Oversee all activities related to innovation, teamwork and problem solving
• Motivate other team members to achieve their objectives by ensuring that workforce morale is always high

Drive the workforce from the top level

The success of a company is dependent on leadership. Successful companies rely on their senior executives to prioritize workforce at a far higher level. To prepare the future workforce they need to fully onboard new hires, execute training, nurture talent, and have a succession plan in place.

Plan for the dynamic workforce

As time progresses, baby boomers will be replaced by millennials who already understand that change is inevitable. For this reason, executives of top companies are better prepared for change by concentrating on demographic swings when molding the workforce. Since the newest generation needs monthly feedbacks, it is essential to include developmental planning during this training.

Prioritize on supplemental training programs

One of the best ways to motivate employees to meet their objectives is through prioritized training and mentorship. Millennials expect these initiatives to be included to help them grow and get recognized for their hard work; therefore, many large companies can and do hold formal mentoring programs to help their workforce stay in shape.

Recruit the best talent

Recruitment challenges have a massive impact on the overall workforce plan. In today’s fast-pace business environment, top companies look to strategic resources and partners to build support teams and leaders. Executive search firms who have team members who have walked in an executive’s shoes make excellent partners to augment the acquisition of top talent.

Remunerate based on worth

Did you know that giant companies retain employees based on their performances and not the amount of time they have spent executing their duties? Underperforming companies, on the other hand, reward workers based on their tenure and not the overall performances. It is evident that recognizing loyalty before output does not present high performance.

Appreciate the value of data

Company executives need to collect and analyze the data required to execute the internal positions of the business. Important variables to consider are the job market, industry, clients, and financial status, as well as the current trends of sophisticated statistics. When organizations consider people as their greatest assets, their chances of delivering proactive results are quite high. In the present constricted labor market, it is paramount to nurture talent to enable the delivery of better results which surpass set targets. For this reason, top performers rely on strategic concepts to motivate employees into high-quality performance.

How to adopt a human capital retention strategy and plan

A human capital retention strategy and plan is all about managing the employee onboarding and assimilation process. Through it, you can create and refine personal investment while communicating the message through people. They can use channels such as the Internet, mass media, college affiliations, referral programs, direct outsourcing, and special events. Working within the confines of this environment will ensure organizations regularly communicate the retention strategy and reduce on time spent attracting talent.

Propulsion

What attracts and motivates employees? The answer to this question will help most company executives to fulfill the following obligations:

• Mentorship, development, and career
• Immediate management
• Performance management
• Communication
• Gender disparity and fair treatment
• Pay and benefits
• Collaboration
• Family loyalty
• Job gratification

Executive leaders of high performing companies need to understand the dynamics related to employee motivation factors to learn how to influence them.

Retention

Did you know that the relationship between managers and workers has a significant influence on the organization’s development? Companies must adopt and execute human capital strategies that motivate and support their zeal for retention. It includes ensuring that talent attraction and talent retention brings forth a culture in which people feel appreciated for their inputs. The company’s value statement should clearly illustrate how they intend to instill the sense of a performance management system. Managers should also recruit employees who uphold the company’s values because it would be easier for them to blend in and start to give their best towards the realization of the organizational dream.

Company’s development and design

One thing most executives need to evaluate is whether the right people are executing duties about their skills. Through quantitative and qualitative analysis, a company will better understand how human capital capabilities will translate into achieving their goals. This concept also works for demographic recruitment, shareholders, and the communities in which the organization runs.

Top-level executives need to understand that their relationship with junior staff members is vital for the well-being of their organization. It clearly illustrates their zeal towards recruiting the best talent and their sense of purpose within their companies. Proper channels should be followed when attracting and nurturing human capital requirements.

About Sky Search Partners

Rick Cassidy, Sky Search Partners president, founded the firm for one primary reason: We love putting people to work. Sky Search Partners has developed a rigorous platform for engaging, researching, and connecting with the most successful executive talent. The firm executes with a laser focus on to identify candidates precisely aligned to search specifications. A proven formula of integrity and “people first” enables it to build trusted relationships with organizations and top-tier talent across key disciplines, job titles, national markets, and industry classes. This enables client organizations to create their “dream team,” especially in highly competitive environments where results are imperative.