Thursday, September 19, 2013

Human Capital Definitions

What is human capital? Wikipedia defines HC as:

"The stock of competencies, knowledge, social and personality attributes, including creativity, embodied in the ability to perform labor so as to produce economic value."

That means HC should be regarded as an aggregate economic view of the human being acting within economies, in an attempt to capture the social, biological, cultural and psychological complexity as they interact in explicit and/or economic transactions.

According to MBA Brief's definition of human capital, it is

"A sub category of intellectual capital focusing on the intangible value present in the people working for an organization (or in an economy). HC is the total value of all skills, expertise and competencies of a company to react on market demands and customer needs including leadership and management issues and capabilities. HC in an organization can be classified broadly into two main sub categories: Management and Employees."

Makes me wonder if we all agree on these definitions of human capital?