DEVELOPING QUALITY HUMAN CAPITAL
DEVELPOING QUALITY HUMAN CAPITAL: A STRATEGIC APPROACH TO BUSNIESS SUCCESS
1. INTRODUCTION
The key for future of any country and any institution lies in the talent, skills and capabilities of its people. With talent shortages projected to become more severe in much of the developed and developing world, human capital and workforces must be well establish for prepared the demand of competitive economies.
Human capital is the employees whom posses individual and collective knowledge, skill and abilities (Ivana, 2010). Employees are referred to as human capital as soon as they apply their knowledge and skill to create product and services that give value to the organization.
Human capital is not a one-dimensional concept but means different things to different stakeholder. In the business world, human capital is the economic value of an employee’s set of skills (The Human Capital Report, 2013).
Human capital lies at the core of innovation and a productive high income economy. It is the most important investment an organization makes. Tenth Malaysia Plan 2011-2015 (2010), no economy can succeed without a highly skilled talent base that is able to rapidly respond creatively to economic change.
In business world, strategic approach must been done to make sure the human capital growth follow the organization objective goal. Human resource management in an increasing number of organizations has become a major player in developing strategic plans and facilitating changes with the organization (J. Younger, A. Younger, & N. Thompshon, 2011). For that, the function of human resources management in the organization must take a lead to make sure this organization objective goal support by the human capital development. 2. STRATEGY DEVELOPING QUALITY HUMAN CAPITAL
A healthy competitive environment has been created and engagement levels have increase, having a positive effect on performance levels. A greater awareness of globalization and global market has also
1. INTRODUCTION
The key for future of any country and any institution lies in the talent, skills and capabilities of its people. With talent shortages projected to become more severe in much of the developed and developing world, human capital and workforces must be well establish for prepared the demand of competitive economies.
Human capital is the employees whom posses individual and collective knowledge, skill and abilities (Ivana, 2010). Employees are referred to as human capital as soon as they apply their knowledge and skill to create product and services that give value to the organization.
Human capital is not a one-dimensional concept but means different things to different stakeholder. In the business world, human capital is the economic value of an employee’s set of skills (The Human Capital Report, 2013).
Human capital lies at the core of innovation and a productive high income economy. It is the most important investment an organization makes. Tenth Malaysia Plan 2011-2015 (2010), no economy can succeed without a highly skilled talent base that is able to rapidly respond creatively to economic change.
In business world, strategic approach must been done to make sure the human capital growth follow the organization objective goal. Human resource management in an increasing number of organizations has become a major player in developing strategic plans and facilitating changes with the organization (J. Younger, A. Younger, & N. Thompshon, 2011). For that, the function of human resources management in the organization must take a lead to make sure this organization objective goal support by the human capital development. 2. STRATEGY DEVELOPING QUALITY HUMAN CAPITAL
A healthy competitive environment has been created and engagement levels have increase, having a positive effect on performance levels. A greater awareness of globalization and global market has also