Human capital and development pdf
File Name: human capital and development .zip
- 8 Benefits of Investing in Your Human Capital Development
- What is the Relationship between Human Capital and Economic Growth?
- Human Capital Development and Innovation: The Case of Training in Small and Medium-Sized Firms
December 9, by Tony Jeanetta. Human capital is the measure of the economic value that an employee provides, through their knowledge, skills, and abilities.
8 Benefits of Investing in Your Human Capital Development
If a company encourages and aspires to carry out human capital development HCD , employees are seen as valuable assets with quantifiable value that can be increased through specific and measurable management techniques and human capital development solutions.
Almost every company today will state that their employees are their most important and thus valuable asset. In order to adequately develop human capital solutions, employers must continuously invest both time and money in training and recruiting people to fortify their personal and interpersonal skills.
Human capital is considered to be one of the most important elements of company success. The process of developing human capital requires creating the necessary environments in which employees can learn bette r and apply innovative ideas , acquire new competencie s, develop skills , behaviors and attitudes. Therefore, you can state that human capital development revolves around:. The tools for creating these opportunities mostly include training, facilitation, coaching and consulting.
The emphasis lies on meeting the needs of learner and organization alike. Some companies use learning management systems to help develop their human capital development. Companies and brands all over the world are strategically planning and positioning their internal productive resources so they can thrive successfully in the global knowledge economy.
The growing importance of knowledge, as opposed to the traditional factors of production, is changing the nature of economic exchange everywhere in the world. The organizations that are able to master the production of knowledge and its conversion to tradable goods and services are topping the charts of economic growth and success. But the knowledge economy is also related to human capital development.
Simply because human beings are knowledge carriers. As human capital can be defined as an e ngine for business growth, the success of any company depends on its ability to develop, organize and use its human capital.
What is the Relationship between Human Capital and Economic Growth?
Human Resource Development is the framework for helping employees develop their skills, knowledge, and abilities, which in turn improves an organization's effectiveness. Find out what types of activities are part of human resource development and the benefits they can have for an organization. Human resource development helps organizations develop their workforce through employee training and career development which improves organizational effectiveness and performance. Human resource development may include many different opportunities, activities, and employee benefits, such as:. The focus of all aspects of Human Resource Development is on developing a superior workforce so that the organization and its individual employees can accomplish their work goals in service to customers.
Based on this, the concept of HC has been conceptualised in a variety of ways in the management literature. The HC theory is rooted back to the economist Becker Edvinnson and Malone viewed HC as a sub-component of intellectual capital in their value platform model of intellectual capital management, while Dzinkowski argued that managing HC within organizations has been drawn from human resource management HRM practices. Cost-Based Approach : This approach estimates HC based on costs of production and child rearing costs to parents. Human Capital Theory : Recognizes the HR as an important factor for creating economic value and emphasizes the labor costs relative to the ROI for developing employee skills and knowledge. Competitive advantage : A competitive advantage comes from providing greater value and services for customers than competitors can.
Human Capital Development and Innovation: The Case of Training in Small and Medium-Sized Firms
It can be argued that in organizations real change comes in two forms: development or deterioration. From this perspective, when things change, they either improve or worsen. If they do neither, the question then becomes what kind of change is it that neither makes things better or worse-after all "change for the better" and "change for the worse" are more familiar experiences and concepts than "change that makes no difference" which nonetheless, in some sense and situations, seems possible, like a change of tie.
Skip to search form Skip to main content You are currently offline. Some features of the site may not work correctly. DOI: Baldwin and J.