Human Capital Management: An Emerging Human Resource Management Practice
| International Journal of Economics and Management Studies |
| © 2018 by SSRG - IJEMS Journal |
| Volume 5 Issue 3 |
| Year of Publication : 2018 |
| Authors : Kratika Sharma, Nitin Jaiswal |
10.14445/23939125/IJEMS-V5I3P106
How to Cite?
Kratika Sharma, Nitin Jaiswal, "Human Capital Management: An Emerging Human Resource Management Practice," SSRG International Journal of Economics and Management Studies, vol. 5, no. 3, pp. 36-41, 2018. Crossref, https://doi.org/10.14445/23939125/IJEMS-V5I3P106
Abstract:
Human capital is just one of an organization’s intangible assets. It is basically all of the competencies and commitment of the people within an organization i.e. their skills, experience, potential and capacity. Human capital management is a reciprocal relationship between supply and demand: employees, contractors and consultants invest their own human capital into business enterprises and the business enterprises need to manage the supplier. Any organization interested in its performance will naturally ask how well they are managing this asset to ensure maximum return on their investment. In the same way, all employees, contractors, consultants and providers of human capital want to ensure they are getting the appropriate return for their own human capital investing through salary, bonuses, benefits, and so on. The results of this study show the strategic importance of human capital and managing them in organizations. The principal purport of this study is to explore and look for variety of aspects and the significance of human capital in today’s hypercompetitive environment besides delve in to details for gaining more insights regarding the subject in focus i.e. human capital. The paper is an exploratory study, which by and large relies heavily on the analysis of available literature. Organizations have been persistently adverting fair amount of emphasis on human capital by taking necessary measures to develop a culture of knowledge sharing, retain highly competent employees to generate more innovative ideas with a view to achieve the competitive advantage for having an edge over contemporary organizations. The inference is that human capital by all means is positively related to the organizational productivity since implementation of the creative ideas and innovations do improve the organizational outcomes. As a result of intellectual capital employees tend to become loyal and passionate about their work and devote their talents to the best of their potential to achieve the all-important competitive advantage. The results of this study show the strategic importance of human capital and managing them in organizations.
Keywords:
Human Capital, Organizational Performance, Competent Employees, Intellectual Capital, Social Capital, Competitive Advantage.
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