Outlaw eReport

HUMAN CAPITAL

A business can't produce a satisfied customer or increase its success unless it is staffed with top people. Human capital is the term used to describe this very important asset. Without it machines could not be operated, products sold, or customers served. In our competitive marketplace, the most successful businesses have very plentiful and
high- quality human capital.

Successful businesses must be consistently staffed to meet normal demands, peak times, and growth. They cannot lower standards or hire lesser quality due to inadequate candidate flow or poor hiring practices.
Hiring is only the beginning. Organizations with little turnover allow focus on the product, process, and the customer, instead of orienting, training, and developing new employees. Time, energy, and creativity can be invested in producing results.

Identification and selection of human capital is management's most important function. Most managers do not know how to ensure the best selection. Even if they do, many do not give the time, energy, and attention it deserves.

Owners will agonize over the terms of a lease, but fail to do the most basic hiring procedures or investigation for a management candidate, let alone for an entry-level position. They accept the potential employee at face value, yet spend hours laboring over the precise wording of a contract. There is a significant loss from bad hiring decisions in customers, productivity, and profits.

Finding and hiring top employees is only half the battle. Today's employees have a dramatically different mind set from those of a few years ago. They no longer look for permanent employment, but are looking for current employment. Loyalty of the employee to return tomorrow and work is earned one day at a time.

More innovative businesses realize the intense competition for workers can be won with innovative approaches such as becoming "the employer of choice" in their industry and geographic area. They go so far as to create public relations programs to impress employees and the community. Employees who believe it is the best place to work will not look elsewhere.

Employees continue to work in an environment where they have fun and want to go to work every day. In most positions there are more openings than qualified employees, so it is critical for the company to create an environment in which the employee wants to remain, to retain human capital.

Not every company can be an "employer of choice." They must Learn causes of turnover and develop retention strategies for top people.

-- According to a recent study by Ernst & Young, hiring and keeping top people is the greatest concern in growing companies.

For more information on how to book Wayne for your next event contact us - Click Here

---

Outlaw Group, Inc.

900 Johnnie Dodds Blvd. Suite 115 •Charleston, SC 29464 • 800.347.9361 • fax 843.881.1758 • info@outlawgroup.com

www.outlawgroup.com ~ www.wayneoutlaw.com ~ www.smartstaffing.net