Human capital and productivity
Human capital, studied from the point of view of economists, is compared with investments in an asset that bring a certain profit. In this regard, we talked about the implicit return, or internal rate of return, an indicator that is used by economists to indicate the extent to which an additional year of study increases individual net benefits.
This is a parameter that represents the result of investments and which, for example, in the context of human capital, can estimate the difference in wages between people with different levels of education or different probability of employment, always based on the qualifications of different studies.
The return on human capital is proportional to the ability of companies to exploit existing opportunities and support human development, including through training and other organizational development activities. In this logic, as researcher Francesco Muzzarelli points out, training leadership is becoming more and more an important and central task for business leaders in relation to their employees, rather than a secondary option.
Human capital represents all the people who work for the company and have their own knowledge and experience that belongs to no one except those who own it. He represents one of the groups that, together with organizational and relational capital, contribute to the formation of intellectual capital, in which all knowledge and relationships that can be transformed into values merge. Thus, the central place is occupied by people who, through their work and the knowledge they have acquired, are able to create competitive relational organizations and structures.
To generate human capital, individuals or communities declare costs - also known in economics as production costs - natural-monetary, such as building schools, or non-monetary, such as the time parents spend with their children. These costs represent investments that a community or country is making in its future to improve living conditions in a logic that should be a sustainable economy.
Phenomena such as emigration and related brain drain, insufficient talent assessment, or insufficient public spending on schools are some examples of the impoverishment of human capital with consequences for the economic development of the Territory. Human capital is the basis of a system of interpersonal, formal and informal relationships that generate the social capital of a community, territory, country. Slot oynayarak büyük ikramiyeyi kazanın 7 slots casino