Problem Analysis and Statistics: Enhancing Human Capital Value

This essay examines the critical role of problem analysis and statistics in addressing human capital issues that impact business development and company success. It identifies the skills gap among job seekers as a major problem affecting US companies, leading to low productivity, high turnover, and inability to meet customer needs. The essay suggests solutions such as strategic training and development programs, internships to cultivate skilled employees, and improvements in the recruitment process to ensure the acquisition of qualified personnel. Ultimately, the paper emphasizes the importance of collaboration among stakeholders to resolve human capital issues and drive the firm towards its goals, highlighting that employees are key drivers of the firm's success and their concerns must be addressed promptly.

Running Head: PROBLEM ANALYSIS AND STATISTICS 1
Problem Analysis and Statistics
Name
Institution

PROBLEM ANALASYS AND STATISTICS 2
Problem Analysis and Statistics
Companys’ success is determined by the expertise of its workforce. Employees are the
greatest resources for any firm, and must be utilized well to enable achievement of the set goals
and objectives. Human resource department recruits, employs, and remunerate the workers of the
firm. Employees employed must have skills, knowledge, and experience required to be able to
execute their duties accordingly. However, there are many human capital issues, which have
adverse effect on the performance of firms. One of the greatest issue identified in the interview is
lack of relevant skills by job seekers, which are required by the employers. Knowledge and skills
are key in ensuring that the new employees are able to achieve the assigned duties with ease and
in the right manner. Therefore, it is evident that inability of employees to execute their duties has
resulted to failure of most of US companies as they are not able to meet their targets and
fulfilling their customer needs.
Business competition is high in the market and firms must find ‘Blue oceans’ to enable
them have high sales for their produce (Kim, & Mauborgne, (2014). Therefore, In order to solve
this issue, the management ensure that it has the most qualified employees, who are creative, and
innovative. Low productivity is dangerous for the success, and perpetual existence of the firm in
the market. However, the universities are producing half-baked graduates, who are not able to
achieve the expected results in the job market (Francis, 2015). Company’s management, who are
the main stakeholders find it really hard to employ the qualified personnel willing and able to
perform duties effectively. Inability for the new workers to perform has resulted to high conflicts
in the firm resulting to high turnover levels.
Nevertheless, the management should make radical changes in the firm by sacking all the
non-performing staff. It should ensure it remains with valuable personnel, who know exactly

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what is expected from them. Also, firms have no option but to train and develop its remaining
staff to be able to compete effectively in the competitive market by equipping them with the
current trends in the industry. Training and development is costly for any firm thus the HRM
department must make changes in the recruitment process to enable get the best employees, who
have adequate knowledge and skills needed. Additionally, it is wise for the management to start
internship programme, which will provide potential skilled employees for the company. The
active and hardworking interns should be given an opportunity to be employed directly by the
firm. This move will not only provide skilled individual but also will save on the recruitment
costs for the firm.
Finally, firm must ensure it is profitable in order to be able to cater for its operations.
Collaborations of all the stakeholders is instrumental in ensuring that the set goals and objectives
are met. Human capital issues arising must be solve quickly to ensure they do not affect the
firms’ performance. The employees are the drivers, who propel the firm to its greatness and any
concerns pertaining their activities must be dealt with faster and keenly.

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References
Francis, D. A. I. (2015). Solving the problem of poor quality of university graduates in Nigeria-a
proposed holistic approach. British Journal of Education, 3(7), 52-70.
Kim, W. C., & Mauborgne, R. A. (2014). Blue ocean strategy, expanded edition: How to create
uncontested market space and make the competition irrelevant. Harvard business review
Press.