Human Capital Management: An Emerging Human Resource Management Practice
The principal purport of this study is to explore and look for variety of aspects and the significance of human capital in today’s hyper-competitive environment besides delve in to details for gaining more insights regarding the subject in focus i.e. human capital. The paper is an exploratory study, which by and large relies heavily on the analysis of available literature and model testing. Organizations have been persistently adverting fair amount of emphasis on human capital by taking necessary measures to develop a culture of knowledge sharing, retain highly competent employees to generate more innovative ideas with a view to achieve the competitive advantage for having an edge over contemporary organizations. Having set forth afore-said goals; top management of dynamic organizations more often than not encourage their employees to actively participate in the knowledge sharing practices. The inference is that human capital by all means is positively related to the organizational productivity since implementation of the creative ideas and innovations do improve the organizational outcomes. As a result of intellectual capital employees tend to become loyal and passionate about their work and devote their talents to the best of their potential to achieve the all important competitive advantage.
Key words: Human Capital, Organizational Performance, Competent Employees, Intellectual Capital, Social Capital, Competitive Advantage.
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