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Posted on Feb 26th 2019
Are You Generating ROI From Your Human Capital?
There's an interesting dichotomy in many small businesses when it comes to the optimization of assets.
In pursuit of knowledge that can create dollars, we spend countless hours building and analyzing reports about how, where, and when we're making our money. And how we can make more of it even faster.
We make most of our decisions about advertising, office location, partnerships, products, and services on just that.
But far fewer businesses do the same with their human capital.
Poor investments of time and input are often excused when they should be reallocated or removed altogether.
Human funds are expended on activities and initiatives with poorly structured processes for measuring output and impact.
Potentially revenue-generating knowledge is discussed between only an elite few - many of which are not in customer-facing roles and often operate on limited anecdotal accounts, beliefs, and assumptions about important business functions.
Employees and contributors are required for revenue-generating activities. However, many small businesses fail to efficiently evaluate and optimize their human capital until it's a pervasive problem.
When it comes to the ROI of your own time and that of your employees, how confident are you that you're getting the best bang for the buck?