The Significance of Human Capital in Managerial Culture
What did you learn from the coming of the Covid pandemic? Numerous entrepreneurs responded to this question by saying that it taught them the value of human capital in companies. Mental and physical welfare turned to be an important asset apart from other factors.
It was important before the pandemic also, but many leaders and managers realized it only after this crisis. Still, such a health emergency that people are coming across has revealed several realms of opportunity and fast-advancing trends indicated the destination of various organizations.
Organizational culture remains the core of any organization, but what does it mean? This refers to the way a company is formed, and its daily activities. In fact, the structures of organizations were much more rigid, their mission and values were defined by a small number of people, and there was no direct participation of human capital. Now people come to realize that the major asset of an organization is without doubt the human capital.
Opportunities as also challenges of innovation to gain digital transformation
To achieve the goals of a company, it’s crucial to make the employees take part in the goals and all of them should share in the same organizational culture which is what employees do while their boss is absent. And the main challenge today is putting such experience of values into practice.
To gain outstanding culture mental health is a priority
Work stress is a problem suffered by many employees. About 25 percent of employees suffer from this problem. When we think that expert management and productivity are important aspects of work culture, we also should keep in mind that factors that appeared during the quarantine and lockdown periods that brought depression, anxiety, and stress do stand out. Companies have lost trillions of dollars yearly in productivity due to stress.
Ways to reduce work stress
Enquire after the well-being of employees in a spirit of collaboration. Give due importance to working hours to see whether employees feel that they are kept working extra hours as compared to pre-covid times. Provide a safe atmosphere for every employee. Make them take part in fresh projects as well as goals.
Be alert to any signs that show your or your team’s mental health is not well. To avoid chronic stress, you should rest, eat well, and exercise to take good care of yourself. This is because stress can have physical consequences and a higher possibility of mental disorders. Since depression can cause disability, it can adversely affect the working of companies.
How to create a great corporate culture?
Leaders should be conscious of the well-being of their employees as also the skills that the latter possess.
These bring us to the well-known term “emotional salary” about which a lot of talks are going on these days. This signifies appreciation and contact with employees, and it is a lot more important than a salary raise or fiscal bonuses. These do help of course, but without the recognition of their worth, it doesn’t help much to make them truly dedicated to the experiences and inherent values of an organization.
But, in spite of investing much in emotional salary as also other perks, employees can still resign their jobs to join another firm that offers them a better salary. To avoid this, employers should set new goals and objectives for their workers. Thus loyalty and challenges that are formed in the employees can help in the creation of a concrete organizational culture.
5 ways to pay ‘the emotional salary’
Ensure that the employees fit in your company’s culture. There is a new trend in the field of Human Resources and that is to employ people for their values, and less for their proficiencies. This is because you cannot learn values, while you can learn skills.