Connecting Technology and Business.

If you thought managing Financial Capital was difficult, how about Human Capital?

Bain’s Macro Trends Group estimates that global financial capital has more than tripled over the past three decades and now stands at roughly 10 times global GDP.

Indisputably, finding Financial capital is easy these days. It is superabundant. As its supply is far more than the demand, it is cheap. Skillful allocation of financial capital is no longer a source of sustained competitive advantage for enterprises. There is a scarcer resource that business owners don’t focus much on or track in their annual balance sheets but which invariably has a greater impact on the businesses - Human capital.

The assets that are in short supply at most companies are the skills and capabilities required to translate good growth ideas into successful new products, services, and businesses—and the traditional financially driven approach to strategic investment has only compounded this paucity.

“Unemployability is a bigger crisis than unemployment”, said an India Labour Report a decade back and this still continues to be the challenge for the country which has launched into the Make in India mode lately.

A country-wide survey found that only 25% of the Indian professionals are considered “employable” by multinationals and the difficulty of employers in India to fill job vacancies had increased to 67% in 2011. The situation has only worsened ever since.

What exactly are employers looking for? Personal attributes like a positive attitude: a ‘can do’ approach, good work ethic and willingness to learn, good personal presentation, honesty and integrity, reliability, timekeeping and personal organization, team working, collaboration and co-operation, flexibility, commercial awareness and customer focus are considered as essential skills. Other skills include, communication – oral and written, numeracy and computer literacy/IT skills.

While acquiring human capital is a drastic challenge today, there is an urgent need for managing effectively the available human capital if enterprises intend to lead from the front. Unfortunately, unlike Financial capital where metrics like ROA, RONA, ROIC, ROCE, IRR, MVA, APV etc. are available for measurement, there are no significant measureable metrics to gauge the value, growth or decline of Human capital.

Broadly speaking, human capital is the sum total of the time, talent and energy of the workforce in an enterprise.

Technology to the rescue - Office365 MyAnalytics

Microsoft MyAnalytics, can provide detailed reviews of how we use time. 

MyAnalytics is an application that analyzes data gathered from user activities within Office 365 to provide users with an insight into how they use their time dealing with email, attending meetings, and interacting with key contacts. It is an information discovery and knowledge tool to track your time, because that’s the valuable resource you have.

The concept underpinning MyAnalytics is that by observing and understanding how someone interacts with the components of Office 365, you can build up a picture of their day-to-day activities. You can also compare how they spend their time against an anonymized set of data drawn from other tenant users.

Based on data drawn from across Office 365, Microsoft knows that the average office worker spends up to 20 hours per week working with email while senior managers will be glued to their keyboards for between 40 and 70 hours. Your data might vary!

All of the data used by MyAnalytics is available to users if they care to look. For example, it is possible (but tedious) to count the number of messages you create and send. You can also figure out how much time is taken to respond to other people within your company by looking at the timestamps in message headers and calculating the difference between when a message was sent and when a response was generated. The same is true when it comes to analyzing the number of meetings you attend, who also attends, the topics discussed, and the outcomes. You can assess whether meetings were effective, ineffective, or just so-so.

MyAnalytics is included in the Office E5 plan. MyAnalytics is also available as an add-on for the E1 and E3 plans.

- based on some articles in HBR and another article in IT Pro Windows