Human Capital Development

Human capital is an important aspect of an individual's life that are affected by their education, training, and health. In order to optimize my human capital, I plan on continuing my education and pursuing a chemistry degree or taking part in a pharmacy program to be able to receive my Pharm. D. In order to accomplish this goal, I am interested in the pharmaceutical program offered by the Florida Agricultural and Mechanical University. The program that they offer would allow me to receive my pharmacy degree in six years and be guaranteed a job shortly after graduating. Another option would be to attend a school that focused primarily on pharmaceuticals such as the Massachusetts College of Pharmacy and health sciences. Throughout my schooling, I would like to shadow or intern for a professional in the field so I am able to better understand the qualities and aspects that pharmacists have to be equipped with.

“Human capital refers to the sum of the attributes, life experiences, knowledge, inventiveness, energy, and enthusiasm that the company’s employees their work (Weatherly, 2003).” These intangible assets have proven to be critical aspects of an organizations competitive advantage. T&D has a direct influence on these assets because “they affect education, work-related know-how and competence, and work relationships (Noe, 2013, p.14).

Term 12. Human Capital Theory- fundamental economic theory that can be used to measure the value of an employee's skill set (Pyke, 2013).

The strategic use of human resources is essential for all organisations that have objectives involving growth and stability. Therefore, it is essential for companies to closely examine their practices regarding their human capital to ensure a successful working environment. A selection of the major strategies and topics involving human capital are illustrated in the following report. Crackberry Communications should use this information to analyse potential risks and opportunities their human resource managers face.

According to Csintalan and Badulescu (2015), human capital refers to a stock of skills, knowledge, creativity, social and personality attributes, qualification of a worker (innate or acquired) that contribute to its productivity and ability to produce economic value (p. 668). Human capital is an impalpable quality that is not possessed by the establishment employing the workers, but rather renting these competencies from the employees. These rented skills may be the most valuable assets needed to support educators in an educational organization. For instances, education has the teacher as employees, and some of the skills necessary in the classroom are patience, adaptability, teamwork, communication, and leadership. The skills described

Human capital is a sum of total skills within an individual such as :education, intelligence, creativity, work experience, entrepreneurial vigor. It is what is left if somebody took away all of your assets. Human capital creates wealth and growth. What the author means by saying that, being poor is a symptom not an illness, is that the underlying problems are lack of skills or human capital. I agree because having human capital is not incurable. You can fix it by investing in your human capital. Human capital is about much more that earning more money, it makes us better parents, more informed voters, more appreciative of art & culture, and more able to enjoy the fruits of life. Human capital is linked to productivity. The poverty line is now

Human capital plays a vital role in providing the organisation with a valuable competitive advantage; in addition a reward and pay system concerning the employment relationship, is often viewed as a key method in obtaining maximum human capital, and thus a central part of managing a business.

* Human capital: intangible assets such as skills, knowledge, and value required by the strategy.

Human Capital theory which on the basis of Armstrong “People and their collective skills, abilities and experience, coupled with their ability to deploy these in the interests of the employing organization, are now recognized as making a significant contribution to organizational success and also constituting a significant source of competitive advantage”. (Armstrong & Baron 2002; cf. Armstrong, 2006).

Human resource , or any are- be it marketing, finance, or manufacturing- deserves more attention and resources if and only if it creates value. (Prof. Dave Ulrich, 2005). In is article he said that human capital is important intangible asset for creating a value. A company can influence, but not control, employee’s expectations and perceptions of the firm- two factors that largely drive their behavior, how hard they work, how well their actions support the firm’s interest and ultimately whether they will continue working for the firm.

Human Resources constitute as one of the most imperative components of any organization, be it small scale business or a large conglomerate. Some of the key functions of the Human

A company performs many duties that can be seen as both beneficial and detrimental, but the contribution of employees is always essential to its success. A company is the sum of its parts. The capital that makes it run and grow, the tangible assets such as computers and buildings, intangible assets such as corporate structure and mission, but mainly the people who strive to move the company toward its mission, build its capital and successfully use the tangible assets. Because people, in all levels of the company, are essential for the success of the business, there have to be plans and programs in place to ensure that these individuals are taken care of.

Human resources and human capital are different. Human resources management is the function by which the human capital is guided and directed. As previously stated, human capital is made up of the knowledge and skills that people possess. When a company hires an employee they are essentially “leasing” the talent that the individual owns. The company does not own the employee, their skills or abilities. Human capital emphasizes valuing people that work for the companies as assets; employees that add to the value of the organization, and when efficiently managed contributes to the overall success of the company in terms of employee productivity and contribution. The role of human resources in valuing human capital is mainly to figure out ways to attract and recruit the best people, find ways to make them better at what they do and bring the best out of them.

The term 'human asset ' may be characterized as the aggregate Knowledge, aptitudes, inventive capacities, and abilities and in addition the qualities, demeanor, methodologies and convictions of people included in the undertakings of the association. It is whole or total of intrinsic capacities, procured information and aptitudes spoke to buy gifts and aptitudes of persons utilized in an association.

Human Resource Development (HRD) is a function of an organization aims to provide the benefits to stakeholders especially to employees, society and organization or employer. The purpose of establishing HRD department within the organizations is to provide the personal development opportunities to staff for their career by offering them mentoring, personal planning, professional training, education, and so on, which could contribute in their personal development and ensure proper functioning of the organization (Swanson & Holton, 2001). On the other hand, HRD sometimes creates tensions between the stakeholders. Here, 'tension ' means a problematic state or a situation that could lead to dissatisfaction of any stakeholder (Autio, 2005).. However, in this essay, HRD benefits and effects i.e. tensions are discussed in context of the selected stakeholder i.e. employees, employers and society. It focuses on finding the effects on others while meeting the interests of any one of these stakeholders. Finally, by providing the outline of benefits provided by HRD, the conclusion is expressed.