December 7, 2011 | Mark Paradies

Are You Maximizing Your Human Capital?

 Wp-Content Uploads 2010 11 Aaaaagarybecker6

Dr. Gary Becker, an award-winning economist, spoke at a recent meeting that I was lucky enough to attend. One of the things he mentioned (and is famous for developing) is the idea of “Human Capital.”

Many economists calculate ways to optimize capital. Usually, this capital is money spent for plant facilities (hardware).

But Dr. Becker emphasizes a different type of capital – people or Human Capital.

He asks what companies are doing to:

  • Improve human capital?
  • Optimize human capital?
  • Focus human capital?
  • Keep human capital?
  • Use human capital to its best advantage?

It seems that many companies forgot about the important investment they had in human capital. They downsized with a vengeance out of fear of the “Great Recession.” Now they find they have a shortage of qualified workers. They can’t find the skilled people they need and they find that the skilled workers they have aren’t loyal after watching coworkers get cut loose in bad economic times.

But have you heard the old saying:

Better late than never.

Even companies that didn’t think about the value of human capital during the recession should start thinking about it now.

Ask yourself…

What are we doing to maximize human capital?

Here are two action items to add to the list of things your company should be doing:

1.Get people trained to solve problems using TapRooT®.

2.Improve your TapRooT® Investigators’ skills by sending them to a pre-Summit course and the TapRooT® Summit.

The TapRooT® Training and the Summit will produce an amazing return on your human capital investment. The skills learned will be immediately useful for improving performance.

For more info about TapRooT® Training and the 2012 Global TapRooT® Summit, see the TapRooT® web site:

www.taproot.com

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