What is Human Asset Management? If we say that people are our most important asset, we need to think about them as any other organizational asset, which is a good thing. We give considerable thought to capital equipment and perform a great deal of due diligence when we both purchase and maintain that capital equipment. Do we put that much effort into hiring and developing our human assets? Let’s compare and contrast a piece of capital equipment diligence relative to human asset management.
Here’s how companies often evaluate the decision to purchase and maintain a valued piece of capital equipment compared to how companies manage and retain human assets:
How do these two approaches compare and contrast? If we look at human capital through the human asset and risk management lens, below are the big questions to ask when evaluating your people and your teams:
Human Asset Impact Analysis: Consider that unless your human assets are in a state of continual appreciation, the following can impact your organization:
What are the organizational costs and risks impacted by static or depreciating human assets?
If you're interested in learning more, download our human asset management strategy eBook and discover the critical steps to developing a robust strategy that focuses on organization development and human assets aligned to key strategic initiatives.