The demand for devoted employees is at its zenith. Recruiters screen resumes, check work experiences and skills that make an employee perfect for an organisation. Every organisation would look forward to investing in the best human capital. However managing it is of prime importance. That’s when HR managers step in to regulate the flow of human capital in the firm.
Candidates possessing a set of unique digital skills are always sought after for their ability to execute complex tasks. According to Han Digital researchers, the market has a raw estimate of 12, 34,000 candidates with digital skills in India alone. Even if the demand is high, a company cannot hire more than what is required. Thus, a moderate inflow of human capital is needed.
Human capital management is the science of managing talent in an organisation. For instance, if a company delivers on SAP services, it cannot invest in SFDC, even if the candidate is qualified in both digital skills – a company must invest in human capital that would bring it revenue in the long run.
Human capital management often leads to having engaged employees. Industrial psychologists have tried and tested methods that prove this hypothesis. Human capital inventory is the list of selected talent that are technically qualified to work with a company. When a company has a back-up of good employees, it potentially invests in training and development activities that help them hone their skills.
Remuneration is the gross investment, after deducting taxes, a company does in a particular talent. Having an updated and uniform human capital inventory can help the management to take drastic measures and set a standard remuneration slab for talent. This inventory can also help in setting up standard rewards and recognition.
A human capital inventory consisting of similar talent can keep employees highly engaged. The reason being – co-workers have the same talent. Candidates are comfortable working with people who are specialised in the same skill as they are. This helps them to constantly learn, grow and develop in their endeavours. Besides, it also gives the liberty to work on individual projects.