'Human capital' is now a dominant asset for most organisations. This is particularly true for organisations that depend on the knowledge and creativity of their workforce and the ability of their workforce to apply that knowledge and creativity. More and more, the successful organisations are those that are effective in measuring and increasing the value of their human capital: that is, the skills, competence and talent of their workforce.
Our name, Calibrand, communicates our ideals of measuring – or 'calibrating' – the talent or calibre of employees with recognised and authoritative methods of evaluation. We hope that over time these will evolve to become a common "currency for talent".
Increasingly the value of a company lies in its knowledge base, including: markets, clients, products, and the legislative and regulatory background. The growth of regulation, increasing technological sophistication of the modern economy, rapid changes in the external environments in which companies operate, and increasing employee expectations about fair treatment in the workplace, all point to:
- The need to test employees' knowledge and competency
- The need to keep track of employees' development and progress
- The need to ensure that employees receive appropriate training and career development
- The need to compare employees' knowledge with external benchmarks/competitors etc.
Companies need to incorporate continuous employee learning and professional development into their basic business practices in order to retain and motivate employees
The 21st century manager needs to manage and develop a flexible pool of talent. More than ever, managers need to be able to identify, test, track, and develop the competency, aptitude and personality fit of employees and contractors. For individuals, the challenge is to constantly adapt and develop their abilities at a faster rate than ever before.