Human Capital is the #1 Priority!

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Mid and Long term growth is not something that will happen by simply taking an opportunistic approach to business.  The profitability axiom applies: If you want to serve the customer with uniform Excellence, then you must FIRST effectively and faithfully serve those who serve the customer—i.e., our employees, via maximizing tools and professional development.

Simply put; regardless of the economic environment and cycle you find yourself in the #1 priority has got to be development of human capital!  The only plausible strategy for higher wage businesses (those based in Europe and the USA I’m willing to speculate) is CHANGE, IMAGINATION & ENTREPRENEURSHIP that will to stay ahead through product, service and process development and change rather than simply under-cutting through employment of low (nil) cost workforce’s.  Somebody once said that necessity is the mother of invention.

Ask any of your cohorts, especially the CEO or CFO and I speculate that they see IT and equipment investment as a strategic necessity but training as a necessary evil.  This as a strategic standpoint is simply unsustainable in the mid/long-term.  All you have to understand is that military generals, sports coaches, symphony conductors…. well they obsess about training.

Its probably true that its much more satisfying and ego buffing to have your picture taken stood next to a shiny new machine but the attitude and ability of the operator is what drives profitability.

I’m not for one moment suggesting that the new machine isn’t important but the budget should address the human element, the cost and therefore benefit of training.  And when they are trained, they should have a growth strategy in place. Every single person should be developed with the aim of leadership in mind, this after all is how the military, police, fire service and sports organisations function, so why not yours?

And while we’re at it, given that we ceaselessly lament the “leadership deficit,” it is an imperative, and just plain common sense, that we maximize the rate of development of women leaders at every level—little if anything has a higher priority. It is quite simply an outrage that this has not been the case until now—and is still not the case in far too many institutions.

The rapidly aging population additionally offers fantastic potential for development. The pool of skills, abilities and knowledge is almost immeasurable.

Sergeants run the army is a common enough phrase used in many management schools and training events, and so taking the logic of crowds it becomes obvious that development of the 1st-line manager or supervisor should be the de-facto starting point. The #1 priority for human capital development.

Over the coming years the nature of work which is already changing at a pace will nonetheless change even more rapidly and in ways previously un-thought. The vagueness of the near-present is almost upon us if not here already.  So creativity of the innovative response is the only way to deal with the unknown.



4 thoughts on “Human Capital is the #1 Priority!

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