Saturday, November 30, 2024

Transformation in human capital management

“A study attributed to Harvard University found that when a person gets a job or a promotion, 85% of the time it is because of their attitude, and only 15% of the time because of how smart they are and how many facts and figures they know. Surprisingly, almost 100% of education dollars go to teach facts and figures which account for only 15% of success in life” – Shiv Khera.

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Let’s look at some of those successful companies in the world which have lived for longer years and yet maintained top leadership positions in the market with their brand names. One may ask, what’s the secret of their success? Well the answer is quite obvious. It’s the people of those companies who made the difference and led the success by turning around the image of the company. The study reveals that successful companies have invested in their people with a clear focus to trigger that attitude in people which made them different from their competitors. They nurtured quality people before they produced quality products.

When we look at the evolution of Human Resources Management beginning with Labour management process to Personnel Management, shifting gradually to HRM and finally adopting to Human Capital Management stage, it has been a long journey. There has been a significant change over the years and the focus drastically shifted from mere man management, talent development to transformation of mindset.

Successful, organizations ensured that their people are valued and sent loud message of inclusion to this effect. People at the other end felt better. Salary, perks, did matter but more than the money the opportunities to decision making, shouldering responsibilities and guiding results, became the prime factors.

Better people are quality people and quality of life has a direct bearing on quality of people that the country produces. It’s time to realize that to assure long term sustainable growth, the countries need to invest significantly in human capital at a stage where winning becomes a habit. Create that winning habit and one will grow with that habit of productivity, creativity and capability to match the technological advancements that the world is going to witness in times to come

As a consequence, for most organizations, people in real sense, became human capital and indispensible when considered the fact that every organization is unique and create specific set of people who, not only, can influence but also shoulder greater challenges at the competitive edge. The story is all about creating a mindset and attitude and the success simultaneously followed.

If the success mantra is so simple then let’s consider this concept beyond the business world? Everyone wants to be successful in life but the fact remains that very few emerge as successful. It is also a fact that success does not come free. The success is aligned to hard work, commitment and a firm mindset leading to a strong belief that, yes, I can achieve what I want to. Be it winning a gold medal in the Olympics, or climbing the Mount Everest. The bottom line is the mindset and mindset in turn generates a strong belief system in a personality which triggers a strong desire to achieve something extraordinary. Abraham Lincoln, Mahatma Gandhi, Nelson Mandela, and Mother Teresa they all had powerful belief system and could reach where they wanted to.

The question that still remains unanswered is that if the word mindset and positive attitude is so powerful and critical to the success, then why it is addressed at a much later stage of one’s life and not at the younger age at Schools and colleges. Is it not surprising to see even today that, 100% of the educational effort goes into teaching facts and figures and the actual success factor takes the back seat? We strive to produce better minds rather than ‘better people’.

Better people are quality people and quality of life has a direct bearing on quality of people that the country produces. It’s time to realize that to assure long term sustainable growth, the countries need to invest significantly in human capital at a stage where winning becomes a habit. Create that winning habit and one will grow with that habit of productivity, creativity and capability to match the technological advancements that the world is going to witness in times to come.

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Cyril Samuel
Cyril Samuel
Cyril Samuel combines three decades of HR expertise with strategic leadership roles at Tata Steel, Lafarge, and Dhofar Power. An MBA from XLRI Jamshedpur, he is a seasoned facilitator in HR strategies, mergers, and corporate services. He founded a management consultancy in 2016, enhancing local HR communities in Oman.

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