What is the human resource? What is human capital? What are the differences between human resource and human capital? Answer this question for 5 marks.
Answer-
Human Resource
Human resources is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the individuals command. Similar terms include manpower, labor, personnel, associates or simply: people.
Human Capital
The term human capital refers to the economic value of a worker's experience and skills. Human capital includes assets like education, training, intelligence, skills, health, and other things employers value such as loyalty and punctuality.
Difference between Human resource and Human Capital
Human Resource
Human resources is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the individuals command. Similar terms include manpower, labor, personnel, associates or simply: people.
Human Capital
The term human capital refers to the economic value of a worker's experience and skills. Human capital includes assets like education, training, intelligence, skills, health, and other things employers value such as loyalty and punctuality.
Difference between Human resource and Human Capital
• Human resources and human capital are concepts that are clearly very similar to each other as they refer to current or potential human skills, capabilities, and talent that are essential to the success of any organization.
• Human capital refers to the skills, training, experience, education, knowledge, know-how, and competencies that are currently being contributed by humans to a business.
• Human resources are the pool of available human skills, knowledge and expertise which can be drawn on and developed when required.