HUMAN CAPITAL
Sunday, March 1st, 2009It means the skill and knowledge which is embodied in the labor to produce economic value. Human capital such as skill, talent and knowledge can be acquired by the worker by providing required training, education and experience. The improvement in the productivity of labor and his dexterity amounts to Human capital. Although the cost of educating, training has to be expensed by the organization, it is a worthwhile investment which can be reaped with profit. By making a laborer trained, he can transform to others with ease which means transformation of knowledge and skill leads to better productivity and quality in the output and profitable for the organization.