Human capital like other departments in an organisation also encounter challenges that may hinder the effective management of employees.
Let’s briefly discuss what Human Capital is, then we talk about the challenges that are peculiar to them.
What is Human Capital?
Human Capital embodies a collection of knowledge, skills, experience, and abilities that are responsible for an effective organisation workforce.
Human Capital is so important that it not only handles the organisation’s most valued asset, it also creates room for employees who are also referred to as a company’s valued asset to perform their jobs with utmost excellence. Human capital uses cultural diversity and inclusion, innovation and problem-solving models, emotional capital, social capital, creativity, and intellectual capital to foster a positive workforce.
What Are The Challenges of Human Capital?
While Human Capital could be all of that, they are faced with challenges that could hinder creative capital, social capital, and other things needed to achieve organisational goals.
The challenges peculiar to human capital are listed as the following:
- Succession planning and leadership development
- Low employee engagement and motivation
- Talent acquisition and retention
- Skills gap
- Work-life balance
- Diversity and inclusion in the workplace
- Knowledge transfer
- Inflexibility
- Well-being and mental health
- Compliance requirements, and so on.
These challenges are peculiar to human capital because once the challenges are addressed, the ability to properly manage employees for organisational success, optimised workforce performance, and innovation takes effect.
What is Xceed365 Human Capital?
Xceed365 has become a regular term searched online among businesses primarily for the solutions they provide. Xceed365 through innovation provides solutions to businesses that streamline human capital management, as well as empower organisations to recruit and retain top talent; promote diversity, equity, and inclusion; develop skills and enhance employee engagement; automate HR processes and workflows; support strategic decision-making, including analysing workforce metrics.
To sum it up, they are recognised for their services which helps organisations in carrying out human resources management practice in talent acquisition, learning and development, performance management, succession planning, employee engagement, compensation management, and other functions.
Human Capital Strategy
Human Capital Strategy is simply a plan that brings an organisation’s workforce management in alignment with its business objectives for the purpose of maximising the value of its human assets.
Human capital strategy is aimed at supporting business growth and scalability, driving innovation and competitiveness, as well as improving employee satisfaction and retention.
Human Capital Management Functions
Human capital management functions to attract, develop, engage, and retain an organisation’s workforce. They carry out critical functions needed for organisational success through recruitment and hiring, onboarding and orientation, performance management, talent development and training, succession planning, employees relations and engagement, and many more.
These days it is now easy to seamlessly carry out these functions through human capital software and technology which allow organisations to streamline processes, effective in enhancing strategic decision-making and employee experience.
