Online Safety Community

The Role of Human Capital in the Global Workplace

What is the one asset that organizations all over the world, no matter where they are located and what business they do, need to nurture? What is that one indispensable element for organizations to grow and stay ahead of the competition? Is it technology? Yes, but there is something that is more important than technology, and is in fact, the factor that gives rise to innovations in technology and other areas of business.

Isn’t it the organization’s employees who do all these? If employees don’t make the organization, who or what else does? Many people like to think of technology as the moving force and the key differentiator for organizations. This is true, but only superficially. If there is one source that technology, best practices, leadership and everything else evolve from and converge into, it is the organization’s employees, right? Does technology fall from the skies? Do best practices get implanted into the organization out of thin air? Does management consist of robots?

Isn’t the human factor at the core of all these? In other words, isn’t it humans that constitutes the soul of organizations? What are all these factors if they did not originate from humans? What are all these if they didn’t have humans shaping and channeling them, helping the organization optimize them? This is that all-important element that makes or breaks an organization, and that is the human capital.

An understanding of human capital
From the business perspective, human capital can be understood as being the collection of all the knowledge and skills an organization’s varied resources that go on to shape its very being. The OECD describes human capital this way:

The knowledge, skills, competencies and other attributes embodied in individuals or groups of individuals acquired during their life and used to produce goods, services or ideas in market circumstances.

This definition makes human capital a very broad topic. When one extends human capital to the overall economy, it becomes an even wider canvas. For the purpose of this article, we will examine human capital from an organization’s perspective.

For an organization, human capital could consist of the employee’s strength in almost all areas that matter to the organization. Anyone who brings any skill of any degree is part of the human capital. Let us understand human capital from the standpoint of what capital itself means: a means for generating assets. Just like how investment is used as a means to generate wealth, in an organization, anyone that contributes to its growth is a human capital resource. The skills and talents, along with the experience and qualification each of its employees brings, are all part of the human capital.

So, in a broad sense, one can think of human capital as consisting of the tangible and nontangible assets that contribute to the organizations. Typically, one can think of the these among other elements as being part of human capital:

Creativity and innovation
Educational and skills qualifications
Emotional Intelligence
Experience
Interpersonal skills
Talents
Skills at communication
Best practices
Constructive habits
Positive thinking
Personality
Read more : https://www.trainhr.com/control/role-of-human-capital-in-global-wor...

Views: 66

Comment

You need to be a member of Online Safety Community to add comments!

Join Online Safety Community

Take our poll!

Take our poll!

Latest Activity

Training Doyens posted an event
Thumbnail

New Employee Onboarding: The Roles and Responsibilities of HR and Management Beyond Handbooks, Benefits, and Photo IDs at Training Doyens 26468 E Walker Dr, Aurora, Colorado 80016

September 17, 2019 from 1pm to 2:30pm
OVERVIEWWhether you call it New Employee Onboarding, Induction, Enculturation, or New Employee Orientation (NEO), the process used to welcome and train your new employees while capturing their excitement of a new job and reducing their new job jitters is critical to their success.NEO is not a one day event, but rather a process that begins after their acceptance of the…See More
6 hours ago
HrishikeshRam posted blog posts
6 hours ago
swethakumar posted blog posts
yesterday
Training Doyens posted events
yesterday

Forum

5 Ways to combat complacency in your Safety Program.

Complacency is a state of mind where a worker is out of touch with the hazards and risks around them. It can show up in a number of ways: over-confidence, lack of care, mindlessness, actual physical…Continue

Started by Drew stone on Monday.

Workplace safety for workers other than your own 3 Replies

Do your workplace/traffic safety plans include safety measures for workers who are not your own employees? Do they take into account the safety of those who will be - or could be - at your workplace,…Continue

Tags: emt, paramedics, emergency, occupational, health

Started by John Petropoulos Memorial Fund. Last reply by Paul Lancaster May 28.

Imagine a technology which is an artificial muscle and is integrated into textiles...

Such a smart textile has huge application potential and can support people in many different ways. The garment would use haptic feedback (i.e. the use of touch to guide the user) or could serve as a…Continue

Started by Ulla Siegel May 28.

Green Smart Technical 800+ Turnkey Projects in UAE – Rope Access Company in Dubai

Green smart is an ISO 9001: 2015 QMS, OHSAS 18001: 2017 OHSMS, ISO 14001: …Continue

Tags: window, cleaning, services, facade, companies

Started by Manikandan Apr 23.

What % of Dollars should be bugeted for All Safety Training for a "Heavy Equipment Road Construction" company with 100 employees? 1 Reply

I have been at a Highway and Road Construction company for six months. I am developing a (first) complete training program. I am the 1st full time safety hire for this company. I need to develop a…Continue

Started by JTurpening. Last reply by Jen McDade Feb 19.

Badge

Loading…

© 2019   Created by Safety Community.   Powered by

Badges  |  Report an Issue  |  Terms of Service