A human capital consulting refers to directing clients to shift from negative value worldview. This is done by interpreting personnel expenditures and employees as transition in the organization to offer a mindset of positive value such that it utilizes and empowers as investments. Human capital consultant also takes the organization into transition from employee’s mindset as resources so that it is managed into a healthier concept of seeing personnel as capital asset. Thus, the consultant works aiming to reinforce the practice and belief that the greatest assets are their employees.
There is no doubt that human employees are the greatest resource in a business. Thus, to serve better, the workforce and individuals require training, recruiting, diverse and high qualified employees. Thus, human capital consulting assists a company in developing an infrastructure to support the workforce needs and this includes hourly employee to executive staff.
Consulting Firms emerging views
The awareness is increasing of Human Capital and this has resulted in emerging of more consulting firms offering services in diverse areas relating to this field.
The Human Capital Consultant is not just about only the human aspect in the business, but is also expected to drive business. The increasing functions and its integration, while the competency of HR consultant will result in the strategies of the firm having holistic knowledge, market conditions and the skill to flow into the employee engagement strategies funnel.
How human capital consulting is different?
Generally, human resources are mentioned together with human capital, but actually they are not the same in the working pattern. The human capital professionals work in an organization as a strategic function. They are involved in the strategic planning activities and it is managed such as professional development, performance management and human resources measurement and planning.
The basic difference of human capital consulting and human resource is that the resources are available as the total means or as supply that may be drawn when required. However, Capital is defined as a wealth employed form or for being employed in producing more wealth.
With human resource consulting, the focus of the consultant is on kinetic and non-living factors such as model, strategies, plans, technological advancements and similar factors. While with human capital consulting the concentration is on the human factor involved in this process such that it includes skills development, labor involved, employee engagement, finance operation and so on.
In a nutshell, replacing aging workers refers to retaining the capital of the organization and that is the people.