Human capital and its various trends
Description
HUMAN CAPITAL
• HUMAN RESOURCE • HUMAN CAPITAL • RESOURCE – "The total means available for economic and political development, such as mineral wealth, labor force and armaments. An available supply that can be drawn on when needed."
• CAPITAL: – "Any form of wealth employed or capable of being employed in the production of more wealth."
HUMAN CAPITAL “HUMAN CAPITAL is created by changes in persons that bring about skills and capabilities that make them able to act in new ways.” – Sir Partha Sarthi Dasgupta • Different from traditional capital. – Better with time and usage
• Human resource management – Optimum utilization of human resource – i.e. minimum input maximum output. – Profit maximization • Human capital management – Wealth maximization
Need of shift • Globalization. • Lack of skill labor force. • Service sector boom. • Flatter organizational • Technology
Human Capital • Where talent is required? • Quality and quantity required? – Strategy • Creating value – Find out the critical process – Find out the bottlenecks
Trends
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