5 Ways to develop a sustainable human capital for the future

Human resources are central to the development and the value of human resource capital can be increased by investment in human beings e.g. in their education and health. Human capital acts as a central driving force in economic development. Economic development depends on both commercial and human capital, along with the elements that affect productivity. There is mounting evidence that shows; countries need to strengthen their human capital to achieve sustainable economic growth. In turn, they will have people prepared for the jobs of the future, which will be highly skilled. 

So here are 5 ways to develop sustainable human capital for the future.

1. People over Profit 

It is easy to forget how important people are for the success of any organization. It is good to see the numbers climbing up the reports and getting higher revenues and profits but what shouldn’t be forgotten is that there were actual people who made it all possible. To develop sustainable human capital it is essential to treat people right and not as pawns used to make big money. Though profit is important, people are literally indispensable and it is important to be involved and to show you care about them more than the numbers. 

2. Drive accountability

Accountability is about ownership and initiative. That is when a person says they will do something, they follow through with their commitment. It is about realizing that people depend on how and when you complete the task at hand. Now, it is important to drive accountability by instilling accountability from the top and teach as an example. Furthermore, to enhance accountability there should be a system of feedback installed. Two-way communication is the key to achieving a flawless working hierarchy that never disappoints. 

3. Learning as a priority

Education enlightens human capital, especially in this modern-day and age. In this context, quality education is fundamental to the development of sustainable human capital. Often people forget that learning is a continuous process and that every person should keep seeking knowledge. Now, some people might find it difficult to understand how gaining knowledge can have a higher return on investment. However, this is true, and getting more and more education and staying updated will only give you a higher ROI when the time is right.

4. Motivation

When developing human capital, there are at least two things that are very crucial: that knowledge is being transferred to your employees, and that your employees are actually motivated and willing to learn. Without these two factors, your time, money, and efforts spent on the learning and development exercise will be in vain. The more motivated you are to learn, the more likely it is for you to acquire the information and reflect it in your behavior. For this reason, it is important to assess the human capital’s motivation, and determine what it is that drives them to show up at work every day.

5. Becoming tech-friendly

To make human capital as efficient and helpful as possible, it's critical to implement the right tech tools and train them with the latest technical skills and knowledge. This will help the team stay up to date with the latest trends in the technical domain and implement their learnings to practical use. Rather than investing in automation, if a strategic investment is made in upgrading and upskilling the human capital, especially in countries where it is abundantly available, you’ll be doing a great act of social good.

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