Wanting to learn how to develop and manage human capital? Here is a way out.

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The world of business is truly fascinating.
Businesses provide livelihood to the majority of the human race. Even farmers also depend on businesses to sell their products and get inputs for farming.
However, to most of us, the world of business remains a mystery. In these series of blogs, we try to unravel the mysteries of business.
In this blog we will learn about the 'Purpose of Developing Human Capital.'   While the HR department has traditionally been focused on ensuring compliance with employment law and maintaining employee levels, in recent years we have seen a shift in the role to become more strategic and more involved in business operations. Key responsibilities for human resources function are: One of the main functions of the HR team is to maintain staffing levels: to ensure the organization has the right people, in the right job, at the right time.
This is a continuous task that shifts as an organization expands. This means that HR staff need to have a firm understanding of the various roles within an organization, the qualifications necessary to fill specific roles, and a general idea of the type of person best suited to these roles.
The lifeblood of any organization is its people. As we’ve written multiple times, engaged employees are more productive and can make a positive impact on a business’ bottom line.
To that end, the HR department is there as a liaison between the organization and employees, to make sure that employees are kept abreast of relevant information and that they, in turn, are represented by the HR team in any decisions that may impact them. A simple way of keeping staff up to date is a regular HR newsletter which details pertinent news and developments, as well as providing a forum for employees to engage.    For every organization, complying with employment legislation is a requirement.
From providing positive working conditions to ensuring fair work practices, the HR team is tasked with keeping an organization in line with workplace laws. This can often be a complex and every changing facet of the HR role as legislation can be tweaked sporadically if new cases or scenarios come to light.
Promoting a safe workplace comes under the realm of the HR department. In this role, the HR team is responsible for ensuring an organization complies with all health and safety legislation, that employee safety training is kept up to date and that workplace safety records are maintained.
Promoting workplace safety is a necessary task in any organization, but it can often fall to the bottom of the priority list when employees are busy. HR departments can keep details fresh through regular communication; using video can be a good idea to capture attention and highlight particular guidelines.     Most organizations will have dedicated training for employees, from new hire induction training to providing leadership training to promoted staff members, and everything in between.
A key aspect of a HR department is to facilitate workplace training, to make sure adequate training is being provided but to encourage the ongoing development of employees through relevant training courses or workshops. Promoting employee development can play a significant role in staff retention and engagement and is a vital part of how a successful organization operates.
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