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Essay / Research Paper Abstract
A 2.5 page paper. Many companies consider their capital or customers as their most valuable asset but the fact is that the most valuable asset any organization of any kind has is the employees, often referred to as human capital. This essay addresses this statement and includes experts' opinions on the premise. Bibliography lists 5 sources.
Page Count:
2 pages (~225 words per page)
File: MM12_PGempast.rtf
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Unformatted sample text from the term paper:
have tried and failed to copy us because they cannot copy our people" (Stodder, 1997, p. 100). This is not lip service, Kelleher really believes it - hire good
people who will fit in with the fun cultures of Southwest, train them, treat them with respect and empower them to do their jobs better and make customers happy
and the company will be a success (Stodder, 1997). Human capital is a buzz word in todays literature. The concept was originally introduced by Adam Smith and later reintroduced by
economists and theorists in the 1960s (Hartog, 1999). There are a number of interpretations as to what this really means and certainly, the phrase is misused more often than not
(Hartog, 1999). Hartog suggests this: "human capital may be defined as the knowledge, skills, competence and other attributes embodied in individuals that are relevant to economic activity. Human capital is
therefore a notion which captures the valuation of the attributes people invest in" (1999). Hartog went on to say that it is a very difficult quality to measure and is
typically associated with financial returns, in the broadest sense (Hartog, 1999). The most important asset any company has is its people. This is such an incredibly simplistic concept that many
corporate executives do not even consider it. They fail to make the connection between spending money to increase workers knowledge and skills and also spending money to enhance employee morale
and the companys success. The investment goes beyond enhancing skill levels to instituting programs that make people feel good about where they work. Surline asserted "Today its critical to retain
the most valuable asset credit unions have--their human resources" (1999, p. 32). Turnover is extremely expensive, far more expensive than a company instituting programs and providing compensation plans to keep
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