Human capital and factors affecting it.

[TOZZIBLINKZ]

the concept of human capital refers to the skill , experience , training , education , knowledge , technical know-how , and competencies etc , attributed and contributed by humans to a business . In other words , human capital can be referred to as the value that is added into a company by an employee , worker or staff which can be measured by the employees skills and competencies .human capital is a important factor of production and employing individuals with the right education , experience , skills , and training can improve efficiency productivity and profitability . Good day above writings in mind one may want to know the characteristics of human capital.

the first thing to know is that human capital is a human factor hence its supply can easily be controlled , the second thing to know is that human capital requires motivation to perform efficiently and increase productivity that is why a business owner must be efficient in providing motivation and encouragement to his employees to boost productivity of business goals and objective . Finally human capital has the capability of controlling other factors of production this is so true because with the availability of raw material human beings are able to manufacture and convert this raw materials into usable and desirable items with the help of their human training , skills , and knowledge .

 

[Jasz]

Human capital is one of the three primary classes of assets in economics, the other two being physical and financial. Human capital refers to things that affect an individual's productivity, such as knowledge, education, training, ability, and experience.
The human capital theory states that a firm's performance is dependent on the quality of its people, and that attracting and retaining good employees is important to the company's success. Some factors that affect human capital include:

-The education level and experience of potential employees

-The family situation of potential employees (such as availability of childcare)

-The compensation offered by the company

-The quality of benefits provided to the employees (such as vacation time or health care)

 

[Abee111]

Human Capital is a measure of the skills, education, capacity and attributes of labour which influence their productive capacity and earning potential the knowledge, skills, competencies and other attributes embodied in individuals or groups of individuals acquired during their life and used to produce goods, services or ideas in market circumstances.
Some of the factors that do affect human capital in most countries are
Competencies. Competence is a combination of knowledge, skills, attitudes, and/or personal traits demonstrated in a person's behavior that allows them to achieve specific objectives at work
knowledge
organizational Development
Risk
Family influence and many more related issue that affects human capital.

 

[funmi]

I see some countries trying all means to try as much as possible to attract foreign human resource into their country, country such as Canada always have programs where they will.systematically try to get more human resources to work in their country so as to boost their output. There are other countries too where they are experiencing underpopulation where their resources outweighs the available population and hence they even encourage their citizens to increase their birth rate. This is because this people have come to see that the human resources is one that we can never under look. When we look at production closely we will realise that the factors that makes it up includes land, labour and capital and entrepreneur. Here it is obvious labour plays a huge role in making production very possible. Unfortunately there are factors that could indeed affect the quality of labour that we are having . as it appears that not everyone is indeed very vibrant enough to engage in productive activities maybe as a result of the level education or even the health conditions this are the factors that can affect the quality of labour. Then perhaps the pay rate can also affect the quality of labour.