- Yvan Demosthenes
Human Capital and DEI – why we do what we do!
First, let's talk about the difference between human resources and human capital. Human resources are a company's pool of skilled people to get the job done - and improve efficiency, productivity, and profitability! On the other hand, human capital is the knowledge, skills, training, experience, know-how, education, and competencies currently being contributed by real people to a business.
So, human capital and human resources are closely linked. They are the current and potential skills contributing to a business's success. Human resources need to be hired, trained, and given opportunities and challenges to develop skills and capabilities that become your organization's human capital.
In addition to on-the-job human capital development, there is the capital that everyone brings to the workplace through their life experience. Experience is where we see diversity in human capital and thus diversity in the workforce. The characteristics of a diverse human capital include A full spectrum of human demographic differences, ideas, backgrounds, and opinions that individuals bring to the table.
Creating a diverse, equitable, and inclusive workplace means ensuring you have the right mix of human resources and human capital. Diversity, as explained above, covers backgrounds and knowledge. Inclusion means that a diverse group of individuals feels they belong as a full member of the organization and can thrive there. Finally, equity in an organization, not to be confused with equality, means that barriers are eliminated, and each individual is allowed to thrive despite past inequalities.
This is where HamiltonDemo comes in. If you are trying to create an organization that is truly diverse, equitable, and inclusive, we can help.
Corporations know that diversity is big business. The total spending by minority groups in the United States is approximately $550 billion annually, and it is expected to grow by 50 percent or more over the next three years. As a result, companies need to hire, promote, and retain to sell effectively to these customers. It's one thing for an organization to acknowledge that diversity adds to business value, but it's another thing to make it a reality.
HamiltonDemo specializes in helping clients recruit, hire, and retain a diverse pool of top talent. We understand the demographic changes in the workforce and continuously educate our staff and clients that diversity is not synonymous with minorities.
Our Diversity Practice team possesses the background, experience, and outlook to engage diverse candidates. This best serves the objective of creating a dynamic, adaptable workforce demanded by today's global economy and multicultural labor force.
Give us a call and let us know how we can help you build a team with DEI in mind.