23 Facts About Human capital

Human capital is a concept used by social scientists to designate personal attributes considered useful in the production process.

Research indicates that human capital investments have high economic returns throughout childhood and young adulthood.

The concept emphasizes that in many cases, human capital is accumulated specific to the nature of the task, and the human capital accumulated for the task are valuable to many firms requiring the transferable skills.

Becker's book entitled Human Capital, published in 1964, became a standard reference for many years.

Human capital is substitutable, but not transferable like land, labor, or fixed capital.

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Human capital in a broad sense is a collection of activities – all the knowledge, skills, abilities, experience, intelligence, training and competences possessed individually and collectively by individuals in a population.

The human capital is further distributed into three kinds; Knowledge Capital Social Capital Emotional Capital.

The learning outcomes data, methodology, and applications to the human capital literature underlying this effort were published in Nature.

New measure of expected human capital calculated for 195 countries from 1990 to 2016 and defined for each birth cohort as the expected years lived from age 20 to 64 years and adjusted for educational attainment, learning or education quality, and functional health status was published by The Lancet in September 2018.

Human capital management is the term used to describe workforce practices and resources that focus on maximizing needed skills through the recruitment, training, and development of employees.

Human capital is distinctly different from the tangible monetary capital due to the extraordinary characteristic of human capital to grow cumulatively over a long period of time.

The growth of tangible monetary Human capital is not always linear due to the shocks of business cycles.

Human capital is an intangible asset, and it is not owned by the firm that employs it and is generally not fungible.

Human capital when viewed from a time perspective consumes time in one of these key activities:.

When human capital is assessed by activity based costing via time allocations it becomes possible to assess human capital risk.

Human capital risk occurs when the organization operates below attainable operational excellence levels.

In corporate finance, human capital is one of the three primary components of intellectual capital.

Human capital is the value that the employees of a business provide through the application of skills, know-how and expertise.

Human capital is inherent in people and cannot be owned by an organization.

Human capital encompasses how effectively an organization uses its people resources as measured by creativity and innovation.

Concept of human capital can be infinitely elastic, including unmeasurable variables such as personal character or connections with insiders.

Specific human capital refers to skills or knowledge that is useful only to a single employer or industry, whereas general human capital is useful to all employers.

Human capital is central to debates about welfare, education, health care, and retirement.