A specialist on human capital development and president, Institute of Human Capital Management, Associate Professor Phillip A. Oyadiran, has made passionate appeal to employers of labour to value the contributions of their workers to the development of enterprises and refrain from imposing slave labour practices on the workforce.
Oyadiran who is the immediate past head of department of Public Administration, University of Abuja, made these remarks at the 2019 Third Quarter Induction and training at the Institute of Human Capital Management and Skill Development of Nigeria, in Abuja recently.
Oyadiran remarked that in the current knowledge-driven economy, employees are the lifeline of every corporate organisation since no corporate group can survive without talented employees.
“Corporate organisations are run with the help of individuals who contribute in their own ways to their success and productivity. Employees spend most part of their days in offices and strive hard to achieve set goals and objectives. “Invariably, they ought to be motivated from time to time so that they can develop a sense of attachment and belonging towards their corporate organisations and also deliver their best,” Oyadiran said.
The lecturer who spoke on the theme: “Human Capital Management in the Corporate World: Issues and Challenges”, urged every serving employee to acquire skills through experience, exposure, trainings to further increase productivity that will eventually benefit the organisation where the person works.
“Knowledge and expertise which employees develop in due course of time to further increase the productivity of organisations refer to human capital. Every employee try their level best to sharpen their skills during their stint with the corporate organisation.
“Human capital is defined as the collective stock of skills, attributes, knowledge, and expertise of employees which further plays an integral role in increasing the productivity of the corporate organisation.”
The expert also called on corporate organisation to invest money and resources to train new employees in order to work hard, upgrade their existing knowledge and contribute in their own way to increase the productivity of their organisations.
He stated that human capital management requires that organisations should effectively manage their employees for them to contribute significantly in their overall productivity by upgrading the existing skills of employees and extracting the best out of them.
On the challenges of human capital management, Oyadiran said the world in which human capital management is practised has become continually dynamic and generating new issues in response to the major trends.
“The environment in which human capital management takes place is much in a state of flux. Changes are occurring rapidly across a wide range of issues. Some of these challenges include economic and employment shifts, education, training, organisation restructuring, demographic diversity, reengineering, downsizing, outsourcing and layoff, and balancing work and family.
“Environmental and contextual changes present a number of competitive challenges to corporate organisations which means that management must be involved in helping to build new capabilities,” he concluded.
