Human Capital Management has pushed to the forefront of the modern era’s innovation-aggressive, talent-driven, and knowledge-led economy. Countries such as the UK and otherwise smart organizations have often made huge investments in developing their people, believing the parroted truism in people being the most valuable assets.
On the other hand, India as a market has an abundance of human capital and a talent pool with immense potential. But that’s the word to focus on – potential. In general, the perceived value of human capital is still more guesswork than concrete, number-driven facts or projections. It’s a problem for a world that requires talent now more than ever before, with new jobs and open roles fast rendering their older counterparts obsolete.
Bringing about greater value in the talent pool within India is a combined effort by multiple levels of the nation’s hierarchy. The 4I Model breaks down the change that’s required at each level, leaving us with a blueprint to what’s required for more fruitful human capital.
“What got you here, won’t get you there.” Your future is in your hands, and it is up to you to make the most of what you have in front of you today to get the most of what there will be tomorrow.
With deeper pockets and an extended reach in the digital age, institutions need to stay up-to-date with the latest trends and use that understanding to continuously re-invent themselves and adapt seamlessly with the changing economic landscape. The successful organization will be the one that knows where it has come from, but more so, knows where it wants to go and how to get there with the right people.
Collaboration is key here. Individual industries need to find ways to bring together the best minds within a particular industry to cultivate and nurture human capital for that particular vertical. Doing so will be for the benefit of not only the companies within that industry, but the industry as a whole as well.
Reaching the upper echelons of the national economy, India needs to enable a best-in-class emotional and intellectual infrastructure. Further, to compete with other economic powers, India must not only enable this infrastructure, but aim to set the global standard for such a foundation for excellence. When the country is invested, the people will be too. And they’ll be ready for what the future holds.
In a matter of years, the world will be a very different place. Neither time nor technology will wait for anyone. It’s time we began converting our human capital into a true demographic powerhouse to address global challenges, rather than allowing possible dangers to affect our roots. While the groundwork begins with us as individuals, the success of our human capital relies on the efforts of all levels of our society. It’s time we got to work.
About the Author
Naganagouda SJ is the Head of HR at GlobalEdge Software, He is an avid speaker and motivator, and has been awarded multiple times for his leadership and vision. He can be reached at firstname.lastname@example.org.