human
capital management
"Employee
costs can exceed 40% of corporate expense,"
says Jac Fitz-enz (see below). With
this in mind managing the acquisition
of talent and the productivity and longevity
of employees, the human capital, in
corporations is essential.
The
term human capital originated with Theodore
Schultz, 1979 Nobel Laureate in
economic science. He offered this definition
of human capital:
Consider all human abilities to
be either innate or acquired. Every
person is born with a particular set
of genes, which determines his innate
ability. Attributes of acquired population
quality, which are valuable and can
be augmented by appropriate investment,
will be treated as human capital.
To
elaborate on that definition, the book
The
ROI of Human Capital, written by
Jac
Fitz-enz describes Human Capital
as a combination of the following:
- The
traits one brings to the job: intelligence,
energy, a generally positive attitude,
reliability, and commitment.
- One's
ability to learn: aptitude, imagination,
creativity, and what is often called
"street smarts," saavy (or
how to get things done).
- One's
motivation to share information and
knowledge: team spirit and goal orientation.
Bill
contributes to the advancement of this
key corporate area, on both the corporate
and talent side, through:
Talent
Acquisition
Retention
Practices |
