How to boost the Human Capital of the Organization?

Employees are the assets of any organization. Without human capital, an organization cannot sustain on a long scale or we can say the productivity of the organization is exceedingly depending on the employees through which they can get success. Employees in an organization, work according to their expertise which they get from learning, training, and experience. Such expertise makes them proficient in their work and benefits the organization by achieving the required task/goal. 

It is crucial to understand the importance of human capital in any organization. Organizations devote money to train their new employees so in return; they can work hard and assist to attain the organizational goal. But the motivation of employees is another important responsibility of the organization otherwise employees may lose their concentration from the organization which can reduce productivity at work. 

Here are some ways which can help to boost the human capital in any organization.

Train Frequently: 

Here is no doubt that the development of the organization depends on its employees. 

That’s why the recruitment of the right employee at the right place is a vital responsibility of human resource experts for the organization. In case of a mismatch for the required job can lead to a reduction in production as well as the waste of many other resources. It doesn’t mean that an organization can neglect fresh candidates for the job. It requires a suitable induction program that ought to be specially designed for new employees rather than boring manuals and static work roadmap. After that, the organization can provide its employees with frequent training which will help to upgrade their skills and help them to cope with upcoming challenges. 

Well-Defined Work Responsibilities: 

It must be defined to all employees that who are responsible for which work especially the key areas of the required task which should be defined according to the employees’ expertise otherwise it would only waste the time of both employee and organization with zero outcomes. The organization can also define milestones to keep everyone’s task on the track.

Monitor the Performance: 

The performance of the employees must be monitored by the managers or senior authorities of the specific department because it can increase the human capital. Performance can be monitored through employees’ weekly reports which are an easy and effective way to track the progress of employees. It will help the managers to keep updated along their employees as well as weekly feedback will assist them to identify the queries which employees face during their job performance so they could cope with that.

Communicate Directly:

The approach of Hitler cannot work in this era of corporate. No matter what is the position whether junior or senior, every employee should have the right to enter into the office of HOD (Head of Department) or manager to discuss any query or task. Direct communication is the bridge between problems and solutions among the employees and senior authorities. Every employee should allow giving his idea, suggestion, and feedback regarding any matter or project. It won’t only help to bring up new ideas but also create a sense of attachment in employees which will boost their confidence and motivate them.

Motivation: 

The motivation of employees is one of the important responsibilities of any organization to keep itself productive. It is the psychological fact, without the feeling of attachment no one can stay with you for a longer period. It is important to motivate the human workforce from time to time in various ways. It could be monthly meetings on employees’ general issues, appreciation in the form of incentives or awarding them as the Employee of the Month/ Organizations should not wait for the yearly promotions, small encouragements can give big rewards as well.

5 Incredible Benefits of Remotely Business

Before COVID-19, many companies were not in the favor of remote business, or in other words, we can say they had some fence regarding work from homes. Though the current situation is quite challenging for them to make a strategic plan to carry out their business remotely it will provide them some unrevealing advantages for their business. 

If you are thinking to adopt remote working for your business or want to bounce a quick startup, these benefits of remotely business will going to help you to reveal the hidden benefits of modern technology. 

Decrease the Expenses of Business: 

Many companies can decrease their business expenses which are related to the routine operations through remote working which is also smartly increasing their profit on the other side. It is not only reducing the expenses of the business but also beneficial for employees by cutting the traveling, lunch, and attire cost. According to the Analytics of Global Workplace, by practicing remotely businesses, companies can save up to 11 thousand dollars annually per employee. Considering the size of the company, it can significantly beneficial for the companies. 

Enhance the Satisfaction and Retention of Employees:

Remote working of businesses is the most preferred offer which employers can prolong to applicants. According to the online survey of Mom corps, it is quite surprising that despite the great rate of unemployment, people are ready to cut their salaries up to 10 percent to accomplish the job with flexible remote working. In the survey of Owl Labs 2019, it is proved that employees who work remotely stay on their jobs over a prolonged period are increasing the chances of up to 13 percent. 

The better way to hire the Candidates: 

Remote businesses make the workplace more diverse which means more chances to get the right applicant for the position because there is no more hiring border geographically which confines the businesses. With the help of modern technology, Human resource managers can select the candidates, conduct the interview, select and screen them and done further evaluation remotely and cut the extensive process of applying to hire the candidate with a fence. 

Improved overall Productivity:

Some professionals perceive that remote working makes the employees lazy and least focused to achieve the task because of flexibility which is further proved as a myth. Remote businesses attested more productive as compared to the physical office-based businesses. The work efficiency of the employees is associated with the independence of work, enjoyment, flexibility, and comfort in terms of office noise and pressure. 

According to the survey report of Airtasker 2020, because of remotely working, employees work with breaks which makes them more focused on work tasks.

More Alert towards upcoming Challenges:

Coronavirus is an immense challenge for the whole world. It has made the world more alert towards the upcoming challenges in the next period. Many giants in the corporate world have already formulated a contingency plan to work remotely in the incident of any emergency, natural disaster, or pandemic disease. In fact, during the period of crises or bankruptcy, companies can sustain their businesses through remote working. Temporary shifted remote businesses can also get a big exposure in this current pandemic which is and will be beneficial for them. 

How Human Resource Is Beneficial For the Business Growth

The human resource department has crucial importance in any business or organization. They have a varied role which included employees hiring, rotation, training, promotion, motivation, and so forth. It has included staff hiring and dealing from hourly wages based workers to salaried officers and managers even in specific cases a c-level executive. Although employees do not have to report to the Human resource department it is HR’s responsibility to deal with employees’ queries and satisfy them, do check and balance of employees’ safety in all departments and communicate the news of the company with them. 

It would be challenging if a company has to manage simultaneously recruitment, acquisition, training, and motivation management, developing a healthy environment among employees with multiple other queries. That’s why a company cannot neglect the significance of the human resource department. If a company starts doing all these things without the HR department, the company may lose its core purpose. The expansion and growth of any company are mainly depending on the well-rounded human resource department to be successful.

Some of the influential ways that Human Resource department performs to expand and grow the business:

Help To Maintain Healthy Environment among Employees

Employees are the major assets of any company. Without them, a company can never be successful. A company has performed other several tasks such as inclusive strategies, decision making, and business development but these tasks need talented employees who are recruit and retain by the Human Resource department. It is one of the essential tasks other than rest because it must be accomplished with remarkable results to hire the right employee for the right position for the company’s goal and vision. To be successful, a company must hire the best.

It Helps To Resolve the Queries of Employees

The Human resource department works as a bridge between the employees and the higher authorities. Just think for a moment, an employee is harassed or bullied by the other employee. Higher authorities will have enough time to find the reason behind this and rove it who’s wrong? Obviously not and it can create such serious disputes between the employees or sometimes even the different departments. In this case, the HR department handles all these queries and conflicts of employees which could be related to any concern. They listen to them, deeply analyze the situation, and then serve a decision to the higher authorities for the approval. If the HR department doesn’t exist in the organization, employees can separate themselves into the rival groups which could create an immense problem for the organization.

It Sets Benchmarks and Reviews the Performance of Employees

The Human resources department not only hire the employees but they review them while assigning multiple task and rotation that they are capable enough for a certain position or where they are best suited for. In any organization, HR has the responsibility to set benchmarks and review the performance of employees accordingly. It helps them to identify the talented employees and understand their strengths and weaknesses so they can retain them according to while focusing on employees’ expectations towards the organization.

It is impossible to neglect that the Human Resource department is the backbone of any organization. They help the companies to recruit the best-suited employee for the required position as well as the retention of talented employees, manage the inter-organizational conflicts between employees, their motivation and success review, and rewards. No matter what, the HR department is one of the most essential and powerful departments in any organization/company.

Primavera P6 EPPM Software

With timeliness traversing for years and having resources in billions, energy and utility projects face various challenges which include managing the control and workforce and timely execution of a project. In this state, there is an absolute need for a software-based solution, and this is where Oracle’s Primavera enterprise project and portfolio management (EPPM) plays its part.
Oracle’s Primavera EPPM is a professional program which is the most effective, reliable, and easy-to-use tool in energy-intensive sectors to prioritize, plan, manage, and execute operations, programs, and duties worldwide. Primavera EEPM solutions help to identify complex energy sector challenges, which includes

Navigating interconnected risks and benefits environment: Many issues confront energy and utility projects. They face numbers of problems as it is a complex utility environment; thus, utility company need precise, timely data, and this is where Primavera EPPM comes in use.

Ensuring the investor’s benefits: Primavera EEPM provides powerful analytics which allows energy firms to assess, prioritize and assign the correct policies. Moreover, scenario analysis and optimization of decisions deliver the data needed to forecast probable results and determine the likelihood of achievement.

Effective Management of Operations: When it comes to big utility project, a single change in any small units creates a ripple effect which timely affects all other aspects of the project. In this scenario, Primavera EEPM comes up with a unique platform to manage all activities and provides a clear and comprehensive overview of all projects thus it creates reliability in identifying problems governed with projects and allows to do any mid-course corrections and ensures efficient allocation of resources.

Early Plans for Risk Management: In more significant projects, the likelihood of errors increases significantly and thus to deal with these errors a pre-planning is required, and this is where Primavera EEPM comes into use. It delivers easy-to-apprehend analytics which allows to model risks and takes timely decisions to mitigate the risks and continuing the uninterrupted flow of operations.

Effective Management of Human Resources: The large scale projects comprises of vast number of human resources and managing these human resources and labor force while also maintaining the timely recruitments of new employees is a difficult task thus Primavera EEPM help organizations to address this issue with a centralized project intelligence platform that improves organizational skills, offers a prevalent project management structure and enables fresh hires to get up to pace rapidly. By helping to reallocate the right resources at the right project, Primavera EEPM’s applications help an organization to make most of the labor pool while making collaboration between human resources much more manageable. Hence, it helps to create an environment of cooperation that directly affects the outcomes of the project.

Concluding all, Oracle’s Primavera EEPM is a software solution to all the managerial tasks related to large energy and utility sectors. From the basic framework to advanced level of frameworks, Primavera EEPM covers a range of management tools which allows energy sectors to perform their operations with fewer chances of ambiguity.

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