Debate has raged for years about the value of the Human Resources department. Is it deserving of a seat on the Executive or just an administrative function that provides staff with the warm and fuzzies? Often maligned as the go-to place when things go wrong, both organisations and the people working in them could benefit from readjusting their view of HR to the place to go to get things right.
Recent discussions about Behavioural Capital highlight that the way you relate to and act with different markets, such as B2B and B2C, will impact your bottom line. There are a plethora of articles and writings that highlight the importance of behavioural capital, but few that actually quantify it. Have a look at A Cognitive Theory of the Firm: Learning, Governance and Dynamic Capabilities by Bart Nooteboom or read Praxis Towards Sustainable Empowering Learning Environments in South Africa edited by Dennis Francis, Sechaba Mahlomaholo, Milton Nkoan for example.
What if we were to extrapolate the concept to include how you act internally with colleagues? Interestingly, the experts also point out that while many organisations believe they understand their culture, when questioned, they are likely to describe their aspired culture.
So let’s imagine a motivated and aligned workforce who were all working towards the same goal… Let me introduce Cultural Capital. A better title for a new relationship with Human Resources.
In Cultural Capital, HR is a key driver. It partners with the Executive, develops a culture map, then works across the organisation to embed it throughout the employee lifecycle. Imagine the savings: improved productivity, less sick leave and fewer disciplinary issues. Not to mention the value added to your brand when your business becomes a true employer of choice. Prospective candidates will be beating a path to your door. What a difference a word can make!