Fully Unlocking The Value Of Human Capital
Reading Time: 5 minutes
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On 21 November 2020, BrioHR’s CEO and co-founder, Benjamin Croc, was invited to speak at the ADAPT International Convention, the world’s largest online tech conference, alongside other global entrepreneurs.
Conducted online due to the pandemic, Benjamin highlighted the issue most companies are facing on a day-to-day basis, and shared insightful tips on how to ‘Fully Unlock The Value of Human Capital – The BrioHR Way’.
The 3 key points Benjamin covered are:
- How should companies see Human Capital and what does it really mean?
- What can we do practically and concretely to make the best out of our employees?
- How can we do it?
1. How should companies consider Human Capital?
Benjamin Croc: “Whenever we ask business leaders, CEOs, or directors ‘What is the single most important asset in your companies?’, invariably their answer is ‘Our people’. Yet we see so little time and resources dedicated to help employees perform better and to their best. After all, this is for the sake of the company.
‘How should companies define people who are their most valuable asset?’
It goes beyond the term ‘People’. It’s essential for companies to know what kind of people they need for the company to excel, and how each employee can be on top of their game.
We can define people in 3 different ways:
-
• Firstly, companies need happy and engaged employees. It’s important for people to know what they like to do and how their contributions help the company perform better.
• Secondly, it’s essential for people to understand the company’s objectives – the mission and vision of the company, and make sure they are aligned with them.
• Thirdly, people need to know what is expected of them, when they need to perform, and what they can bring to the company.
If companies consider human capital to be their main asset, then it is important for them to dedicate enough resources by investing the right amount of time, money, and attention in their employees. What’s essential is to proactively and deliberately act on these three main areas. In the end, employees will be more productive and satisfied, so it’s a win-win situation where on one hand the company will have employees who perform better, and on the other, employees are happier in their job and in their day-to-day life.”
2. What are actionable things we can do to bring the best out of our employees?
Benjamin Croc: “Firstly, the norm is to now manage and engage employees even before their Day-1. The New Joiner Onboarding process should start as soon as the offer letter is accepted by the candidate, and from that point on, they are to be considered as a new member of your team. Their notice period could even be as long as 3 months before their actual start date, but engaging and managing that specific employee has already started. You don’t have to reinvent the wheel! Start off with simple actions and refine the New Joiner Onboarding process as you go. It’s essential that you make something happen in the early stages when you’re not used to doing this process. But the key is to start with simple and actionable steps.
There’ll definitely be some who’ll advocate that this could be done much earlier, and yes that is true. In fact, we engage people or potential candidates right from the moment we communicate about the company values when we talk about it on social media or anywhere else, but most importantly the nature of the interaction and relationships that you build with candidates,whether these candidates join your organization in the end or not. It plays a crucial role in terms of employer branding as well.”
Here are 3 examples to illustrate how companies can engage, respect, and manage their people with simple and actionable steps.
- Responding to rejected candidates
- The Onboarding process
- The new joiner’s Day-1
Responding to rejected candidates
“One of the most vivid examples that I have in mind is the case of rejected candidates. We could simply say we are not going to hire them so we don’t need to respond to them but personally I think that it’s not very respectful to these candidates to do that as they showed interest in your organization and have spent their time applying for a job position and potentially interviewing with you.
On the other hand, we have organizations who’ll say that we need to respect candidates even when we reject them and therefore, respond to each and every one of them personally. There’s no doubt that it is a genuine intent. The problem is that this will never be done because it’s too time-consuming and too cumbersome. It’s not the HR person’s fault nor the recruiter’s that the candidate didn’t get a closure, but it’s just that it is not manageable.
There’s a way to at least put in place a standard rejection email to, at least, let them know that they’ve not been selected for the particular job position. It may seem like a prewritten email, but that’s fine. At least they have closure and will be able to move on. They won’t be saying three months down the line that ‘This company couldn’t even take 2 minutes of their time to respond to my email!’
It is essential to put in place simple and actionable steps to give closure to rejected candidates. It’s an example of how companies can engage, respect, and manage their people right from the hiring process.”
The Onboarding process
“Onboarding is the first deep interaction that new employees will have with your company. As I’ve previously mentioned, Onboarding should start even before their first day. It’s easy to invite a future new joiner to a team lunch, or assign a buddy for the new hire who’ll be able to tell them how things are happening in the company and so on. It is in fact very important as it makes the new employee feel as if he or she is already part of the team, and that’s actually key.”
The new joiner’s Day-1
“We’ve all had a mixed experience on our Day-1 at a company. It’s as simple as having someone to welcome you, or having a well-defined plan, or having someone to show you around the office so you don’t waste time or have unnecessary stress and so on. These simple actions which are easy to put in place, and done in isolation will give a first memorable experience and impression to the new joiners. These new joiners will instantly have the feeling of being able to grow in your company and feel that they’ll enjoy spending most of their day at the office. It’s to avoid them from only taking your company as a physical space where they would spend a few months, or a year or two and add a line on their resume.”
3. How can we do it?
Benjamin Croc: “Actions can be very simple and it’s all about doing them. The question is then, ‘Why don’t we do it enough?’ or ‘Why can’t we do it enough?’ In fact, they are easy to identify and put in place. But companies don’t do it. Why? The reason is very simple: Most companies don’t have the appropriate tools. Companies need tools as these seamlessly simple tasks and activities done in isolation have numerous complex processes. If we go back to the Onboarding process example, there are many administrative aspects such as collecting data to be able to process Payroll, or collecting the new joiner’s personal information that you’ll need to comply with the applicable laws, making sure the access card to the building is ready, the equipment, where will the new joiner’s space be, manage the whole probation period by giving them all the tools and knowledge they need to be able to perform their work correctly, etc. In the end, this represents a lot of activities to manage, and this is only the Onboarding process. There’s also the day-to-day activities, or even managing their performance, and so on.”
Here are examples of how tools can actually help companies if they are used in the right manner. It’s something that companies are almost not capable of doing without a tool, if they are expecting to give a good employee experience.
An all-in-one HR management platform
“These platforms are there to simplify the work so that there won’t be information to be collected and given here and there using Excel, or Word, or any other software. In addition to making it simple, it’ll make every interaction flow naturally, and also more accurately. This is how we unlock the human capital ‘The BrioHR Way’. This is our aim and we constantly work with our clients to add and refine what we offer but the idea is mainly to cover the full employee journey from Recruitment, then the New Joiner Onboarding, then the administrative portion where Leave Management, Claims, Payroll, Employee File & Document Management come into place. Lastly, in this new era where remote working has become a norm, Performance Management helps a lot as well.
When we think about this from a global point of view, we’re able to craft a standard but yet tailor-made journey for the employees. Although every employee might have the same activities to go through, they’ll be able to interact with their own manager and colleagues. Each of these processes are unique but it all follows an identical framework for a person who is an outsider to becoming the best performer at your company. That’s the main reason why it’s essential to think about the employee journey right from the start. This is our main focus at BrioHR which is to help companies have a turnkey, full-fledged HR environment to then be able to design their processus, and implement them – which is usually one of the most time-consuming parts as HR spend a huge amount of time on this.
If all the negative frictions in the implementation for HR and employees are removed and handled by a software, or a platform such as BrioHR, then everyone can save a lot of time. But most importantly, when employees actually interact amongst themselves, they can only have high quality discussions such as career development, or asking how they are doing or feeling, or what could be done better, instead of having insisting on reminders for simple tasks. That’s the whole idea of a full digitisation across the full employee spectrum can greatly improve the performance of the employee, HR and ultimately the company’s performance.”
Watch the full video here: ‘Fully Unlocking The Value Of Human Capital – The BrioHR Way’ by Benjamin Croc at ADAPT International Convention 2020
Reading Time: 5 mins
On 21 November 2020, BrioHR’s CEO and co-founder, Benjamin Croc, was invited to speak at the ADAPT International Convention, the world’s largest online tech conference, alongside other global entrepreneurs.
Conducted online due to the pandemic, Benjamin highlighted the issue most companies are facing on a day-to-day basis, and shared insightful tips on how to ‘Fully Unlock The Value of Human Capital – The BrioHR Way’.
The 3 key points Benjamin covered are:
How should companies see Human Capital and what does it really mean?
What can we do practically and concretely to make the best out of our employees?
How can we do it?
The 3 Key Points Benjamin Covered:
1. How should companies consider Human Capital?
Benjamin Croc: “Whenever we ask business leaders, CEOs, or directors ‘What is the single most important asset in your companies?’, invariably their answer is ‘Our people’. Yet we see so little time and resources dedicated to help employees perform better and to their best. After all, this is for the sake of the company.
‘How should companies define people who are their most valuable asset?’
It goes beyond the term ‘People’. It’s essential for companies to know what kind of people they need for the company to excel, and how each employee can be on top of their game.
We can define people in 3 different ways:
• Firstly, companies need happy and engaged employees. It’s important for people to know what they like to do and how their contributions help the company perform better.
• Secondly, it’s essential for people to understand the company’s objectives – the mission and vision of the company, and make sure they are aligned with them.
• Thirdly, people need to know what is expected of them, when they need to perform, and what they can bring to the company.
If companies consider human capital to be their main asset, then it is important for them to dedicate enough resources by investing the right amount of time, money, and attention in their employees. What’s essential is to proactively and deliberately act on these three main areas. In the end, employees will be more productive and satisfied, so it’s a win-win situation where on one hand the company will have employees who perform better, and on the other, employees are happier in their job and in their day-to-day life.”
2. What are actionable things we can do to bring the best out of our employees?
Benjamin Croc: “Firstly, the norm is to now manage and engage employees even before their Day-1. The New Joiner Onboarding process should start as soon as the offer letter is accepted by the candidate, and from that point on, they are to be considered as a new member of your team. Their notice period could even be as long as 3 months before their actual start date, but engaging and managing that specific employee has already started. You don’t have to reinvent the wheel! Start off with simple actions and refine the New Joiner Onboarding process as you go. It’s essential that you make something happen in the early stages when you’re not used to doing this process. But the key is to start with simple and actionable steps.
There’ll definitely be some who’ll advocate that this could be done much earlier, and yes that is true. In fact, we engage people or potential candidates right from the moment we communicate about the company values when we talk about it on social media or anywhere else, but most importantly the nature of the interaction and relationships that you build with candidates,whether these candidates join your organization in the end or not. It plays a crucial role in terms of employer branding as well.”
Here are 3 examples to illustrate how companies can engage, respect, and manage their people with simple and actionable steps.
Responding to rejected candidates
The Onboarding process
The new joiner’s Day-1
Responding to rejected candidates
“One of the most vivid examples that I have in mind is the case of rejected candidates. We could simply say we are not going to hire them so we don’t need to respond to them but personally I think that it’s not very respectful to these candidates to do that as they showed interest in your organization and have spent their time applying for a job position and potentially interviewing with you.
On the other hand, we have organizations who’ll say that we need to respect candidates even when we reject them and therefore, respond to each and every one of them personally. There’s no doubt that it is a genuine intent. The problem is that this will never be done because it’s too time-consuming and too cumbersome. It’s not the HR person’s fault nor the recruiter’s that the candidate didn’t get a closure, but it’s just that it is not manageable.
There’s a way to at least put in place a standard rejection email to, at least, let them know that they’ve not been selected for the particular job position. It may seem like a prewritten email, but that’s fine. At least they have closure and will be able to move on. They won’t be saying three months down the line that ‘This company couldn’t even take 2 minutes of their time to respond to my email!’
It is essential to put in place simple and actionable steps to give closure to rejected candidates. It’s an example of how companies can engage, respect, and manage their people right from the hiring process.”
The Onboarding process
“Onboarding is the first deep interaction that new employees will have with your company. As I’ve previously mentioned, Onboarding should start even before their first day. It’s easy to invite a future new joiner to a team lunch, or assign a buddy for the new hire who’ll be able to tell them how things are happening in the company and so on. It is in fact very important as it makes the new employee feel as if he or she is already part of the team, and that’s actually key.”
The new joiner’s Day-1
“We’ve all had a mixed experience on our Day-1 at a company. It’s as simple as having someone to welcome you, or having a well-defined plan, or having someone to show you around the office so you don’t waste time or have unnecessary stress and so on. These simple actions which are easy to put in place, and done in isolation will give a first memorable experience and impression to the new joiners. These new joiners will instantly have the feeling of being able to grow in your company and feel that they’ll enjoy spending most of their day at the office. It’s to avoid them from only taking your company as a physical space where they would spend a few months, or a year or two and add a line on their resume.”
3. How can we do it?
Benjamin Croc: “Actions can be very simple and it’s all about doing them. The question is then, ‘Why don’t we do it enough?’ or ‘Why can’t we do it enough?’ In fact, they are easy to identify and put in place. But companies don’t do it. Why? The reason is very simple: Most companies don’t have the appropriate tools. Companies need tools as these seamlessly simple tasks and activities done in isolation have numerous complex processes. If we go back to the Onboarding process example, there are many administrative aspects such as collecting data to be able to process Payroll, or collecting the new joiner’s personal information that you’ll need to comply with the applicable laws, making sure the access card to the building is ready, the equipment, where will the new joiner’s space be, manage the whole probation period by giving them all the tools and knowledge they need to be able to perform their work correctly, etc. In the end, this represents a lot of activities to manage, and this is only the Onboarding process. There’s also the day-to-day activities, or even managing their performance, and so on.”
Here are examples of how tools can actually help companies if they are used in the right manner. It’s something that companies are almost not capable of doing without a tool, if they are expecting to give a good employee experience.
An all-in-one HR management platform
“These platforms are there to simplify the work so that there won’t be information to be collected and given here and there using Excel, or Word, or any other software. In addition to making it simple, it’ll make every interaction flow naturally, and also more accurately. This is how we unlock the human capital ‘The BrioHR Way’. This is our aim and we constantly work with our clients to add and refine what we offer but the idea is mainly to cover the full employee journey from Recruitment, then the New Joiner Onboarding, then the administrative portion where Leave Management, Claims, Payroll, Employee File & Document Management come into place. Lastly, in this new era where remote working has become a norm, Performance Management helps a lot as well.
When we think about this from a global point of view, we’re able to craft a standard but yet tailor-made journey for the employees. Although every employee might have the same activities to go through, they’ll be able to interact with their own manager and colleagues. Each of these processes are unique but it all follows an identical framework for a person who is an outsider to becoming the best performer at your company. That’s the main reason why it’s essential to think about the employee journey right from the start. This is our main focus at BrioHR which is to help companies have a turnkey, full-fledged HR environment to then be able to design their processus, and implement them – which is usually one of the most time-consuming parts as HR spend a huge amount of time on this.
If all the negative frictions in the implementation for HR and employees are removed and handled by a software, or a platform such as BrioHR, then everyone can save a lot of time. But most importantly, when employees actually interact amongst themselves, they can only have high quality discussions such as career development, or asking how they are doing or feeling, or what could be done better, instead of having insisting on reminders for simple tasks. That’s the whole idea of a full digitisation across the full employee spectrum can greatly improve the performance of the employee, HR and ultimately the company’s performance.”
Watch the full video here: ‘Fully Unlocking The Value Of Human Capital – The BrioHR Way’ by Benjamin Croc at ADAPT International Convention 2020
