Bridging the Human Capital Disparity

A poor workman blames his tools. A good workman takes care of his tools.

Far too often these analogies are compared with that of work appliances and gadgets instead of individual human beings, who are unique in the workplace.

Covid-19 has shaken the world economy and human capital could be a survival tool for small business. According to Richard Branson, managers should be encouraged to “take care of your employees and they will take care of your business”. This quote highlights the importance of getting it right internally before seeking results externally.

Leaders should abstain from underestimating the power of investing in their team and others. By upskilling the workforce or by simply revealing the sincerity of understanding and empathy for others, can have a far-reaching impact. Not only does this indicate authenticity and commitment, but compliments the fact that recognition tends to trounce any pay cheque, especially as its evidenced in terms of higher productivity.

The human capital risk is a phenomenon experienced by organisations, which can best be described as the discrepancy between the goals of a company and workforce skills available within the company.

Human capital is a key component in a successful 2020 leader’s arsenal. Any contribution towards improving system training, mentoring, or coaching, can yield unexpected rewards and assist in diminishing the human capital risk.

Recognition and loyalty go hand in hand. However, which manager would give appraisal or trust to a disloyal or estranged employee, who systemically watches the clock.

On the contrary, which employee would actively offer dedicated loyalty, knowing that change and potential replacement is the only constant. Both employers and employees understand plenty of opportunities await, floating in the sea — thank you Covid-19.

Today’s Leaders need to understand the importance of fostering a flourishing and advantageous mutually beneficial workplace culture as the difference between strategy formulation and strategy implementation is often due to miscommunication, misunderstanding, resistance to change and the influence of a toxic corporate culture.

The first step to improve a workplace culture is to harness untapped motivation and hidden potential through trust, leading by example and showing your employees that you care.

● Be authentic and honest.

● Invest in employees — mentoring and coaching.

● Train employees — technical on-the-job training and performance management.

● Upskill employees — punctuality and social habits.

● Listen, care and support.

A 2020 leader understands the importance of the “collective” to achieve results. After all, results only matter when the outcome can be shared with others. Everyone enjoys challenge and growth; however, it would be lonely at the finish line for any leader who disregards the importance of the “collective” team and celebrates alone.