Lesson Progress
0% Complete
Human Capital is the workforce a company employs. It is the combination of employees’ competencies and their commitment to the organization for which they work. Human Capital can be defined as human knowledge and skill acquired that aid productive activities. It is the knowledge embodied in people which enables them to effectively and efficiently perform different types of work.
The characteristics of human capital are as follows.
- Academic Institution: Schools, Colleges, Universities
- Lecturers, Teachers, and others to ensure an effective learning process
- Training centers for the acquisition of basic skills
- Workshops for the training of artisans e.g. Repairers, electricians, welders, etc.
- On the job training programs
- Scholarship awards
- Conducive Learning environment
Returns of Human Capital
1. It leads to increase in infrastructural facilities
2. It promotes capital formation for economic growth and development
3. It increases quality and standard of living
4. The investment in capital leads to qualitative growth
5. It promotes innovations and research
Responses