Understanding the Benefits of Human Capital Unification
How busy are you right now?
This week your HR team will handle a monumental amount of tasks. You might be recruiting, job marketing, training new staff, managing payroll, investigating complaints, writing policy, overseeing staff and many other day-to-day tasks that can bog down your department. You want to move things forward, implement new initiatives and effectively leverage human capital to achieve your company’s objectives, but sometimes you feel as if the wheels are spinning.
While organizations are increasingly reaping the benefits of unification strategies, we often encounter companies who are still struggling to find their footing and implement future-oriented processes for human capital management.
What Can You Do?
If only your team could use their skills to break from the traditional HR tasks, find and implement processes that unify employees and create a productive team culture. When your team is this busy doing the day-to-day tasks that keep the business afloat, it’s not surprising that you don’t have time or energy to implement innovative programs to promote growth and employee unification – programs that could ultimately improve corporate performance and ROI.
Company Unification Defined
Let’s define the meaning of company unification. This is the term used to define the blend of values and relationships associated with a company. It is the personality and association the organization has with its employees, and the connections it promotes between employees, teams, and departments. It includes the work atmosphere, employee interaction, and expectations. It also includes the software and processes you use to manage human capital, specifically how they support (or hinder) your culture objectives.
Recent studies from Columbia Business School show that corporate unification (or lack thereof) has a direct impact on employee satisfaction, productivity and turnover rate.
“It is like the air we breathe – it’s everywhere yet invisible”, says Columbia Business School Professor Shivaam Rajgopal. When a company implements effective corporate unification processes, it is less likely to see unethical behavior, low job satisfaction, lack of motivation or short-term employment rates. This is why it is paramount that the HR department focuses attention on developing a positive organizational culture based on strategies and structures to promote employee unification.
The Advantages of Business Unification
When a company has a strong unification culture we see three things happen within the workforce:
- Employees feel valued
- People perform better
- They align their interests with those of the organization
Unification of human capital is vital to the organizational efficiency. Developing a positive business culture is an initiative your HR department should focus on, even if it means outsourcing some of those daily tasks. Why? Because it promotes company growth, improves internal and external communication, keeps employees motivated and happy, reduces employee turnover and improves productivity.
Developing positive business unification takes effort and requires you to make changes and implement new programs which may include exploiting external resources to maximize your efficiency.
It will make a significant difference in the way employees perceive and interact with the company, their overall job performance and ultimately, on the returns the company produces. A company with a positive unification culture only sees about a 14 percent employee turnover rate, whereas those companies with little unification effort see a turnover of about 48 percent. Such a significant increase in retention means your company will save time and money that you currently invest in recruiting, interviewing and training new staff members.
Help Your HR Organization Find A Unified Voice
In April we’re releasing our whitepaper, Achieving Human Capital Unification. Our latest content is designed for human resources departments operating in lean manufacturing organizations. It provides simple steps to begin building a successful human capital unification strategy and a list of 11 resources you shouldn’t miss.
If you’d like to receive this whitepaper as soon as it’s published, please click here.