Human Capital Audits – Why They Are Necessary

5 September 2023

When talking with our clients, it is clear that attracting and retaining the best people in the market is becoming increasingly difficult. Just in the last few years we have seen, ‘The Pandemic’, ‘the Great Resignation’, ‘Quiet Quitting’, the return to ‘Business as Usual’ post-pandemic and ‘Brexit’, not to mention the new Working Visa agreement with Australia.

What does this mean for you and your business?

1. It’s time to take stock.

As an employer chances are you will either have a settled core team or have seen a significant increase in your turnover.

How is the return to business-as-usual working for your organisation, are you where you thought you’d be 12-months ago?

2. It’s time to put learning into practice.

Everyone has been through a seismic shift in the last 3 years, what has this taught you about your business, what lessons were learned and how have you adapted to survive (and potentially grow)?

3. Think about the future.

Now is the time to dust off the 5 year business plan and start again (or regenerate). Where do you want to be in the next 12-months, 3 years, 5 years, what do you need to achieve it and how do you start on the journey to get there.

Where is the best place to start? – A Human Capital Audit!

A Human Capital Audit will help you identify what is working well within your organisation as well as highlighting key areas for improvement. It will help you to understand your resources better and determine;

An organisational structure that reflect your needs
What skills you already have in house and how can you utilise them better
Skills gaps in your organisation and how can you set out to resolve them
A better understanding of the overall abilities you need to function as a successful unit

A Human Capital Audit will lay the foundations for the future success of your organisation and support with your strategic and operational plan.

Can you afford not to do one?

Turning Point HR can undertake this for you. We’re here to support you and your organisation both now and in the long term.

If you would like to discuss this in more detail please contact us here.

More News

Job Evaluation – Practical Steps for Success

9 July 2024

When clients ask us for Job Evaluation, it can often be unclear as to what part of the Reward process they are referring to. Indeed, it is often confused with Salary Benchmarking. While it is different to Salary Benchmarking, it is equally important. What is Job Evaluation? Job Evaluation ensures that the contribution of each job can be measured and rewarded appropriately. We use internal relativity to measure your roles so that they flow correctly, much like an organisational chart. ...

A New Labour Government: What It Means for Pay and Reward

8 July 2024

The election of the new Labour Government and their pledge of “the biggest upgrade to rights at work for a generation” heralds potentially significant shifts for the UK workforce. Assuming Labour deliver on their manifesto commitments, within the first 100 days in office major employment legislation change is expected through the implementation of their plan to “Make Work Pay”. The key areas of change likely to affect workplace reward are: 1. Equality and fair pay focus Strengthening rights to equal ...

EU Pay Transparency Directive: What it Means for Employers

1 July 2024

The EU Pay Transparency Directive is a set of measures to increase pay transparency proposed by the EU in 2023. The Directive builds on the growing body of pay transparency laws already in place across Europe and aims to combat pay discrimination and reduce gender pay gaps. The directive itself is simply a legislative act that sets out goals that EU countries must achieve. However, it’s up to individual countries to devise the laws that will help them reach these ...