Pat Nazemetz, former Chief Human Resources and Ethics Officer of Xerox Corporation, encourages organizations to build a culture that accepts different experiences. “A homogenous workforce is missing the talent pool.” Build a collaborative atmosphere by recruiting the right people and supporting them with a set of shared values.

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Patricia Nazemetz, former Chief Human Resources and Ethics Officer of Xerox Corporation, says organizations should adopt a policy of continuous recruitment. Instead of asking how you can retain twenty-three-year-old workers until they are sixty, ask how you can keep them engaged until they are twenty-eight. Focus on keeping your talented workers passionate about their work.

Firms are often worried about measuring and increasing their return on investment (ROI).  However, most companies only focus on financial capital and forget that human capital is equally important.  Patricia Nazemetz, former Chief Ethics Officer at Xerox, believes that success depends on a businesses’ ability to build on peoples’ basic skills. Moreover, identifying the right skills for your company can differentiate your company from competitors.

What do you think?  In today’s service-oriented economy, is human capital more or less important than before?