home.component.html

<h5>{{ componentVariable }}</h5>
<h5>{{ componentVariableSecond }}</h5>
<label for="lang">Choose a language:</label>
<select (change)="onChange($event.target.value)" id="lang">
  <option *ngFor='let l of languages' [value]="l.code">{{l.label | transloco }}</option>
</select>

home.component.ts

import { Component, OnInit } from '@angular/core';
import { TranslocoService } from '@ngneat/transloco';

@Component({
  selector: 'app-home',
  templateUrl: './home.component.html',
  styleUrls: ['./home.component.scss']
})
export class HomeComponent implements OnInit {
    lang: string = 'en';
    componentVariable: string;
    componentVariableSecond: string;
    languages: Object[] = [
    {
      label: "English",
      code: 'en'
    }, 
    {
      label: 'Russian',
      code: 'ru'
    }];
  
     ngOnInit(): void {
      this.translocoService.setActiveLang(this.lang)
      this.componentVariable = this.translocoService.translate('hello');
      this.componentVariableSecond = this.translocoService.translate('dashboard.description')
    }
  }