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What is human capital?

The value of talent

Human capital: how to motivate a company's employees

The people who make up an organization, with their unique set of knowledge, skills, and experience, represent the most valuable asset of any company. In an increasingly competitive and ever-changing business environment, recognizing and nurturing human capital becomes an essential strategy to ensure long-term growth and success.

Employees are not merely collaborators, but the driving force behind an organization's productivity, innovation, and adaptability. Their commitment and development play a key role in achieving the company's objectives.

What is human capital?

In the labor context, human capital is the set of knowledge, skills, experience, and capabilities held by the people who work in an organization.

The company cannot prosper and survive without its teams, as they have a direct impact on productivity, innovation capacity, and the ability to adapt to change. When people within an organization are empowered and motivated, the company tends to achieve a higher level of efficiency and effectiveness in its operations.

It also plays a key role as a strategic resource. Attracting and retaining talent is a constant challenge for organizations, and investing in human capital development helps to achieve this goal. People feel valued and committed when they are offered the opportunity to grow and learn in their work environment, which in turn increases talent retention and strengthens the organizational culture.

Talent management

Human capital management in a company focuses on attracting, developing, and retaining talent effectively. First, it is essential to carry out a careful recruitment and selection process to find the right candidates.

Once a solid team has been built, the strategy focuses on offering training and development opportunities, evaluating performance on a regular basis, providing competitive compensation and benefits, promoting effective internal communication, and fostering a corporate culture that reflects the organization's values and objectives. In addition, talent retention strategies should be implemented, and the company should stay up-to-date with applicable labor laws and regulations.

A group of workers holding their hard hats

Why invest in people?

At Repsol we are fully aware of the importance of investing in our human capital. During 2022, we allocated an investment of 12.1 million euros to ensure that every employee received training, thereby strengthening their skills and knowledge. We also successfully managed 707 scholarships for university students, with 30% of these students joining our company. In addition, we saw a 19.9% increase in teleworking requests, demonstrating our commitment to our employees' quality of life. 


Cultivating the well-being of employees and promoting their professional growth provides advantages such as:
 
  1. Productivity. Well-trained and motivated employees are more productive, which benefits the efficiency and quality of the company.
  2. Innovation. When employees feel supported in their professional development, they are more willing to explore new perspectives, take calculated risks, and think outside the box, which, in turn, drives innovation and the company's competitiveness.
  3. Adaptation to change. Adaptation to change is essential in the current context, and employee training plays a fundamental role in integrating it into the company. By investing in continuous training, employees acquire advanced skills to face changes in the market and technology.
  4. Talent retention. Investing in employee development and well-being increases loyalty and helps reduce turnover, which saves on recruitment and training costs.

How to motivate a company's employees

Motivation and increased employee performance are closely linked to human capital. Companies have a mission to create a favorable working environment and ensure the well-being of employees, as this fosters their sense of belonging. 

At Repsol we believe in employee motivation as a driver of success and in the importance of people. For this reason, we are aware of the value of improving the quality of life of workers through both the emotional salary and programs to foster the employees' development so that they feel valued.

Some ways to boost employee motivation include:

  • Encourage diversity in the organization to enhance perspectives and stimulate innovation.
  • Empower female talent and promote equality in leadership roles. 
  • Facilitate collaboration with close leaders to foster cooperation. 
  • Offer internal mobility opportunities that allow for growth within the organization. 
  • Invest in training and continuous learning to provide the necessary tools.

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