User:Strategist.hr

Human resource function today drives the needs of the knowledge workers. Various industries are dependent on the human capital management for the success of their business. Human capital erosion is the biggest test and challenges of our times. In the knowledge era, human capital is the source of wealth. [A definitional note: human capital is the embodiment of productive capacity within people. It is the sum of people’s skills, knowledge, attributes, motivations, and fortitude. It can be given or rented to others, but only on a temporary basis; its ownership is non-transferable...We’ve heard the axiom that, “What gets measured gets managed.” This suggests then that the fundamental source of wealth creation—human capital—is seriously under managed in most organizations. That is because most organizations’ systems of measurement, shaped in part by accounting and reporting requirements, are still unduly influenced by measurement concepts dating back to the industrial era when physical capital was the primary source of wealth creation.

Human resource professionals across the industry are making innovative methods to map the human capital towards revenue generation activities. They are also making efforts to control the knowledge and talent erosion of the organization in multiple ways.