Human capital is considered the biggest asset to help a business grow. Yoni Titi, founder and chief executive of Yoni Titi Human Capital, in conversation with broadcast journalist Rofhiwa Madzena, said an entrepreneur may have the best business strategy, products and services, but will not succeed without the correct human capital.
Human capital is the skills, knowledge and experience that employees bring into a company that help it remain competitive in its respective industry. These employees reflect what the company is about; they become its custodians and are the ambassadors of their employer and the business itself. The world of business is forever changing and alignments may differ from time to time, which means that companies need to help their employees advance their skills, knowledge and experience in order to adapt.
When the current human capital cannot adapt to change, Titi said it is important to move forward — as advised by her mentor, it is okay to end relationships that do not add value to the company. Firing an employee whose demands are overboard and drag the company down is sometimes necessary, as the same energy can be used to obtain and train employees with lesser demands, who bring positive change into the company.
The businesswoman also emphasised that it is important to have a good network in your business space and aligned industries. Networking means building business relationships with contacts who help to promote, sustain and build your business. A good network, according to Titi, propels your business to do better and introduces an entrepreneur to industry bodies that stay abreast of changes in relevant industries.