IHRP helps organisations in Singapore reset for growth

IHRP’s Human Capital Diagnostic Tool (HCDT) outlines an actionable road map to deliver workforce and business success.
By: | March 14, 2022

Many businesses were significantly impacted during the pandemic and human capital imperatives has taken a front seat in driving business excellence.

In the recent landscape, human capital is now considered an organisation’s most important asset. Without humans, there would be no one to sell the company’s products and services, manage the company’s daily operations or handle customers effectively. Organisations will grow only if the people who drive it are capable and nurtured to deliver their best potential.

When companies in Singapore undergo the HCDT by the Institute for Human Resource Professionals (IHRP) leaders receive an independent review from a qualified and trained HCDT assessor, who will share the organisation’s human capital process maturity levels measured against industry benchmarks.

The report will highlight areas of strengths and gaps, and through the guidance of the HCDT assessor, the organisation can prioritise an action plan to enhance their HR processes to enable greater workforce and business growth.

HCDT is a national framework that offers easy insights into an organisation’s health with a simple, yet comprehensive human capital assessment. Designed for companies of all sizes, it considers unique business priorities and outlines an actionable road map to deliver workforce and business success.

Mayank Parekh, CEO of the Institute for Human Resources Professionals (IHRP), said, This is a great platform to gain an insight to an organisation’s Human Capital Maturity, which will go a long way to professionalise and strengthen the HR Practice in Singapore”

HCDT was also found to be most effective when used as an agent of business transformation prior to a crisis. Consistently, leaders interviewed pointed to how the HCDT had made significant contributions to the preparedness of their companies as they entered the crisis from a stronger position.

Many organisations have benefited from HCDT:

FarEastFlora shared how embarking on the Human Capital Diagnostic really opened their eyes on how to develop and strengthen their people capabilities to achieve business growth. As noted by Pei San, FarEastFlora’s General Manager, “You can have all the digital components in place, but you need to build a strong organisation culture to support the business vision.”

SFFood shared how it undertook the Human Capital Diagnostic Tool as part of their effort to benchmark their HR practices with other small and medium companies. “With HCDT, the company identified opportunities to improve their human capital processes to reinforce the investments in digitalisation”, said Chua E.C, CEO of SF Food.

Qian Hu shared how the tool helped the organisation better understand what their employees are thinking. By analysing the data from specific employee segments broken down by age groups and tenure, it provided helpful insights to improve employee experience.

READ: How organisations can plan their work transformation strategy

If you are a business or HR leader looking at leveraging your human capital to accelerate your business growth, reach out to IHRP for a complimentary human capital process maturity check. Click here to access more details on HCDT and email IHRP at hcdiagnostics@ihrp.sg if you are interested in signing up.