Navigating a Workflow && Financial Crunch
[Topic] Briefly describe what you would do if your employees were not collecting front-end data. You are in a financial + workflow crunch. [Rough Draft]
[Deliverable] Organizations and the human resources department tread a fine line when it comes to balancing finances and human capital expenditure. Expenditure, within this context, would be considered hiring, onboarding, training, and compensation. For example, an expedient training may save the organization short-term monies but may net large receivables in the future. Moreover, an organization that invests heavily in employee development tends to incur better retention and productivity rates. However, a ying vs. yang conundrum occurs when an organization faces a financial crunch and inefficient human capital workflows. As a CEO — beholden to shareholders, stakeholders, and the workman — what would you do?
Personally, I would work with the head of HR and the CFO to find a compromise. More than likely, if long-term prospects are not bleak- I would seek an infusion of funding; otherwise, I would seek private equity, SPAC, or an IPO (tough choices).
The human resources department is one of the most underutilized functions within an organization. Deriving the maximum economic value from human capital lowers employee turnover and workman dissonance; and with proper implementation, it reduces overhead costs. And a prerequisite to efficient employee output — regardless of corporate rank — is the workman understanding the importance of the labor they are performing. Without purpose, talent cannot be utilized effectively, especially within a corporate environment. And when talent is not leveraged correctly, the aggregation of data, too is affected.
For the most part, human psyche seeks continuous betterment, and proper training therein nurtures the aforementioned idiosyncrasy. Therefore, implementing a training program would improve employee retention, increase motivation, and reduce overhead costs. Training and development motivate the workman and benefit the organization.
End user data (EDGE data) is becoming increasingly important as organizations leverage machine-derived algorithms . Therefore, the human resources department should implement a work-orientation program to ensure better data aggregation and save startup cost — this would reduce workman error when it comes to data aggregation practices.
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