Getting the best out of, investing in, and retaining your people can be the difference between reaching your organisation’s peak performance, utilisation and success – and not.

The changing dynamics and pressures of Australian society and households – combined with advanced technologies and the ability for many industries to have their people work remotely – means the traditional human capital management model and mindset of how and when we work is at odds with a new reality and landscape.

In many cases, COVID-19 fast-tracked businesses working with their people differently and redesigning their people strategies. But there still remains some way to go to create the workplaces, structures and policies needed to develop, engage and retain high performing leaders and teams and to see real commercial success.

The human capital team at Grant Thornton works with our clients to ensure that their organisations are equipped with people strategies, development programs and training, processes, systems and structures to help realise their strategic and growth ambitions. We advise on individual, group and organisational development, executive coaching, strategy creation and implementation, employee engagement and talent management.

What is good human capital management?

Human capital management might be called different names – or have differing objectives – in your organisation: leadership and people development, change culture management, even organisational design.

But at its core, every organisations’ human capital or resources team is grappling with how to best attract, engage and retain their people.

Investing in your people and your culture is more than a nice-to-have or employee brand imperative; it has a very real and commercial impact on your success. When your employees leave the organisation, you not only lose the resources invested in them – not to mention the expenses to replace them – but also the knowledge and efficiencies they have developed to help your business grow. But equally, retaining people who are disengaged, over a long period of time, can be just as costly to your business.

The amount of energy and focus your people give to their role – at any one time – is discretionary. That is, it is up to them to determine how much they are willing to give to a role or task at any one time. And this level can be for affected by a multitude of reasons: how and when they best operate, satisfaction needs, personal or outside factors, even market and workplace conditions.

We work with our clients to create people policies, cultures and environments that complement and elevate their people’s capacity and energy. We take a realistic approach – and understand that your people and their discretionary energy underpins how your business operates – to how we shape your people policies and team structures to ensure long-term, sustainable success.