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While the concept is not recent, it is increasingly scrutinized and rethought within companies. Human capital, it is true, is what makes the wealth or failure of a company. Promoting employee fulfillment, knowing how to use their skills and pushing them to develop new ones necessary for the company, is now part of the main missions of human resources departments. How best to ensure the management of this human capital? Our advice in 11 key points.
After its appearance from Adam Smith's pen, the concept of human capital was revisited by two Chicago School economists in the 1960s. They argued that there are important links between investment in human capital and wages. Human capital was defined as "the set of productive capacities that an individual acquires through the accumulation of knowledge and experience." Over time, the concept has evolved to encompass all dimensions of employee potential.
Seeking to improve human capital management comes down to working on all aspects of employees' professional life, from their entry into the company to their departure.
Here are 11 key steps and actions to follow and develop in this direction.
An effective recruitment process must be aligned with the company's long-term objectives. Upstream, it is important to define the profile sought and to ensure that the candidate corresponds to the company's culture and values.
1. It is simply the set of processes and tools implemented in the company to attract, recruit, integrate, train, value and retain collaborators.
2. Good human capital management has many advantages for a company, including: better productivity, greater team cohesion, stronger employee retention and engagement, a strong employer brand and improved financial performance.
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