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Essay / Research Paper Abstract
A 4 page paper offering several definitions of human capital and discussing the challenges to developing it. Organizations must ensure that they become and remain employers of choice. Being an organization where "everyone" wants to work not only helps to retain developing human capital, it also helps the organization to attract valuable sources of human capital in the future. Bibliography lists 4 sources.
Page Count:
4 pages (~225 words per page)
File: CC6_KShrHumCap.rtf
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Unformatted sample text from the term paper:
have cut costs, laid off employees, looked for internal efficiencies to build on and have taken a host of other steps to increase their opportunities to prosper in the face
of ever-increasing competition. The value, development and retention of human capital has become the next aspect of business that organizations seek to define and manage to their benefit. Defining
Human Capital Financial capital refers to the financial resources available to the organization and often has been viewed as the only aspect of
value within the organization. Smith (2001) offers a World Bank definition of social capital as the ...institutions, relationships, and norms that shape the quality and quantity of a
societys social interactions... Social capital is not just the sum of the institutions which underpin a society - it is the glue that holds them together.
In this same vein, human capital refers to the value residing within the individuals of the organization. Production workers know their jobs well and call attention
to problems that arise rather than turning out products of inferior quality. Operational managers treat well those reporting to them and regard their own roles as providing workers with
all they need to accomplish the tasks assigned to them. Senior management seeks to enhance the value resident within the human capital of the organization.
A Balanced Scorecard business consultant provides a comprehensive definition of human capital: May be considered a metaphor for the transition in organizational value creation from physical assets
to the capabilities of employees - knowledge, skills, and relationships for example. Closely related to terms such as "intellectual capital" and "intangible assets." Recent estimates suggest that as much as
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