human capital

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Related to human capital: Human Capital Management

Human capital

The unique capabilities and expertise of individuals.

Human Capital

The measure of the output an employee with a certain skill set is able to make. The concept of human capital was developed in the 1960s and is founded on the idea that hard work, education, and skill development all lead to more output. As a result, companies are encouraged to invest in human capital through various means such as education and bonuses for exceptionally good work, among others.

human capital

the notion that human capabilities may be developed along the same lines as other forms of capital (e.g. PHYSICAL CAPITAL). Education and TRAINING are key elements of the human capital perpective. An economic perspective is typically applied to the analysis of human capital, and it is suggested that there are costs and returns to investments in human capital.

human capital

the body of human knowledge that contributes ‘know-how’ to productive activity. The knowledge base of a nation is added to by research and disseminated by teaching through general education and vocational training. INVESTMENT in human capital results in new, technically improved, products and production processes that improve ECONOMIC EFFICIENCY, and it can be as significant as physical CAPITAL in promoting ECONOMIC GROWTH. See ECONOMIC DEVELOPMENT.
References in periodicals archive ?
The report covers the market in the Americas, and the EMEA and APAC regions; it also covers the Global Human Capital Management market landscape and its growth prospects in the coming years.
Schultz (1961) emphasized the importance of human capital as a contributor to national wealth.
Managing or lowering the cost of human capital has tended to be the primary focus of many organizations as a means of improving profitability in the short term.
Echols' work on Human Capital investment, visit <http://www.
USTR could benefit from greater use of strategic human capital management principles in leadership and planning, considering that its small size and interagency trade leadership and coordination role give it a unique responsibility to lead the trade agenda.
Both the Krueger and Carneiro/Heckman chapters are grounded in economic theory, and both marshal a wealth of empirical evidence to support their arguments about what policies are likely and unlikely to increase human capital for those in the lower half of this distribution.
The book quickly explains the strategies of personnel management, which can be categorized into what has been called the "new science of human capital management," as posited by the authors.
There is reason to believe that if physical or human capital enlargements or technological improvements are taking place, the real growth factors must already have been unbound.
Kathy and her team drive the human capital side of the business," says Johnston, who like Nardelli is a General Electric veteran.
It might even bear some relationship to the human capital investments made in past periods--when the current range of workers in the labor force was attending schools and investing in skills, Most workers in the economy were educated years and even decades in the past--and they are the ones that have the greatest impact on current levels of productivity and growth.

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