Human Resources And Human Resource Development

1023 Words Dec 12th, 2016 5 Pages
Human resource development is a broadly used term that refers to the helping employees develop their personal and organizational skills, knowledge, and abilities (The Balance. N.p.). The term has different connotations as it may refer to development of human capacities with the aim raising profit in business but also, especially in developing countries, with the aim of achieving personal and societal advancement (Cengage Learning, 2016.). Human resource development can be used by both public organizations, such as governments, and private corporations (Cengage Learning, 2016.). The focus of all aspects of human resource development is on developing the most superior workforce so that the organization and individual employees can accomplish their work goals in service to customers (The Balance. N.p.). Also, it is the framework for the expansion of human capital within an organization through the development of both the organization and the individual to achieve performance improvement (Boundless Business, 26 May 2016.).
"Human capital" is sometimes used synonymously with human resources, although human capital typically refers to a more narrow view (Boundless Business, 26 May 2016.). Human capital is the stock of competencies, knowledge, and social and personality attributes, including creativity, embodied in the ability to perform labor so as to produce economic value (Boundless Business, 26 May 2016.). It is an aggregate economic view of the human being acting within…
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