Human capital is one of the pillars behind the success or failure of companies. Its correct management, as well as the attentive attention of HR, must be at the top of the priorities of organizations seeking high performance .
After all, reaching this position is a complex challenge.
Much more is needed than technologies and strategic innovations.
Your team of professionals, human capital, must be the vector of transformations, capable of adding value to each delivery, improving the work of the company.
However, be aware that it is not just about hiring professionals with exceptional resumes.
Firstly, appropriate management strategies are needed to help HR put together a diverse team, with different levels of experience and qualifications that adapt to the needs of the business.
This is a complicated mission, which is why the issue of human capital management raises so many questions.
In this content, we will give you all the answers!
Here you will find a real guide to human capital, management practices, how to make your company work and what technologies can help in the process. Ready to learn all this?
Keep reading with us, let's go!
What is human capital?
Basically, the definition of human capital is the sum of senegal whatsapp data an employee's knowledge.
When recognized, these capabilities can be used in the pursuit of the company's objectives, strategic actions, and internal business processes.
Human capital in organizations is not about a number or a reason for the number of employees, but about the opportunities created by it and the value that the employee adds to the company every day.
By generating profits from their work, developing routines and practices that value the company's culture, mission, products and services, human capital becomes an essential asset for companies that want to stay ahead of the competition.
This is why HR work has become increasingly important and strategic.
Human capital is not something purely “acquired” at the time of hiring.
Of course, there are times when a professional with extreme knowledge joins the team and enhances the company's human capital.
However, the issue also has to do with the way the organization works and develops its professionals.
It is necessary to be a continuous partner in the development of skills, knowledge and competencies .
In this way, the company provides the tools for the professional to grow, while on the other side of the coin, they feel motivated, valued and ready to add even more value to their performances.
When and where did the concept of human capital emerge?
The concept of human capital has long been debated in academic and policy spheres.
Its consolidation, however, has its origins in the studies of Theodore W. Schultz, an American economist, winner of the Nobel Prize in Economics in 1979, who worked on the concept in the 1950s, when he was studying the economic recovery of countries in the post-war period.
According to Schultz, “ human capital is the set of knowledge, skills and attitudes that favor the performance of work in order to produce economic value .”
In 1960, Gary Becker, another American economist, delved deeper into the topic, popularizing it among academics in the field.
For Becker, human capital was the essential differential that explained the gap in economic development between countries.
What is human capital for?
Human capital is one of the main means of generating income in a company. It serves as a traction for the company's deliveries, both in the operational and strategic spheres, to prove to be above quality.
However, this is where the need for good human capital management appears.
As you've learned, it's not enough to hire the best people. You may have an amazing but dysfunctional team on your hands as a team.
This is where good management comes into play.
It is necessary to recognize and value professionals, understanding their profile ( strengths, weaknesses, opportunities for improvement ) to create strategies that enhance their deliveries.
Have you ever heard that a good leader needs to manage each of his subordinates in a particular way, understanding each individual as unique? That's what we're talking about.
It is like a homemade, tailor-made solution with the company's signature, to develop and empower its employees.
This process also includes the area responsible for identifying, attracting, motivating and retaining the company's top talents.
In other words, human capital is a workforce that offers more than just operations, but actually adds value to the business.
It is therefore necessary to continuously invest in their qualification, motivation and better working conditions.
One way to do this, and one that works very well for the company's marketing, is to support employees in taking courses, undergraduate and graduate degrees.