Factors Affecting the Efficiency of Human Capital

Topic Content:

Competence:

Competence is a combination of knowledge, skills, attitudes, and/or personal traits demonstrated in a person’s behaviour that allows them to achieve specific objectives at work.

Competencies are more than just skills because employees have the power to gain new knowledge and generate new skills with training.

Education is the major means of accumulating human capital. For example, a doctor can gain a level of human capital with training and education but develop a greater gain in human capital over time with continuous practice and experience. In addition to formal education, an employee can increase human capital at work through different experiences and training.

Knowledge:

Knowledge is another major factor of development in human capital. Knowledge is effective when an individual receives an