Question

Explain the term 'human capital' and state any two functions of it.

Answer 1

human capital: the skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.

Human capital is an asset consisting of the knowledge and skills held by a person that can be used by an organization to advance its goals. ... The staffing function of human resource management searches, recruits and acquires employees with the human capital necessary for the organization's needs.

Answer 2

Answer:

An investment in human capital means investing in education or some form of on-the job training to improve workforce quality. Such investments provide returns to the individual as well as to the economy as a whole. Individuals benefit from higher earnings, and the economy as a whole benefits from higher productivity.

human capital: the skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country. ... The staffing function of human resource management searches, recruits and acquires employees with the human capital necessary for the organization's needs.