What Is the Role of Human Capital?

The value of human capital refers to all the costs necessary to maintain the reproduction of human capital. It should include three aspects: the cost of living, the cost of education and the value created by the learner's own learning labor.

Human capital value

This entry lacks an overview map . Supplementing related content makes the entry more complete and can be upgraded quickly. Come on!

The value of human capital refers to all the costs necessary to maintain the reproduction of human capital. It should include three aspects: the cost of living, the cost of education and the value created by the learner's own learning labor.

Chinese name

Human capital value

Including

3 aspects

Including

Cost of living, education

Include

Human capital value is a quantified standard

The value of human capital is a quantified standard to measure the unit productivity of different employees within the enterprise, that is, the part of the company's income that is truly created by 'people'.

Production effect of human capital

The value of human capital is also decomposed into the investment amount of human capital obtained by individuals, the human capital value generated by the combination of individuals and organizations, the human capital value of organizational innovation and the human capital value of processes. For recessive

Formal education at all levels

Investment in formal education is the main way to accumulate human capital value. The value of human capital formed through formal school education is the core and most important component of human capital. School education can improve the general human capital level of a country, can reflect the scale effect of human capital investment, and is the best way to form the value of human capital. This approach increases the knowledge stock of human capital, which is expressed as the level of general education in the composition of human capital, that is, the degree of human capital is reflected by academic qualifications. Therefore, we can clearly judge and compare the human capital stock of a country or region, family, and laborer in a specific period based on the length of schooling received by the laborer and the educational background of the laborer.

Vocational Training

Vocational training refers to a kind of specialized human capital investment provided by the government, society or enterprises to workers to improve their working ability, technical level and proficiency, which has advantages not found in general school education. Vocational training is an important way for people to acquire and develop the knowledge, skills and skills needed to engage in a certain profession. This type of approach mainly focuses on the stock of occupations, expertise, and skills in the composition of human capital. Its performance is the level of professional technology in the composition of human capital.

Medical, health, health care

Expenditure for medical treatment, health, and health care is an investment made in improving the value of human capital from the physical quality of human resources, and it determines the level of human resource health stock. Improved health, increased average life expectancy, and reduced mortality rate mean higher labor productivity for workers, while reducing the loss of working hours due to illness.

Labor migration

Under the current level of human capital, improve the allocation of human capital through the flow and transfer of human resources, such as the movement of laborers in areas with abundant human capital to areas where they are lacking, and their professional counterparts to professional counterparts. So that human capital produces greater economic value. According to some surveys conducted by Bert Consulting in 2004, labor mobility costs cannot directly form or increase the human capital stock, but through the rational flow of labor, on a macro scale, it is possible to optimize the allocation of human capital and adjust the distribution of human capital. The degree of scarcity; on a micro level, human capital can be used most efficiently and profitably. Therefore, it is a necessary condition for the value and appreciation of human capital. ^[1]

The specificity and exclusivity of corporate human capital.

Specificity refers to the nature of assets that are difficult to use for other purposes after they are used for a specific purpose. The specificity of the operator's human capital comes from the practice of the operator in a specific enterprise. It is an investment of persistent knowledge and skills specifically to support the production of a specific team. It emphasizes the environment between the operator and the enterprise. Knowledge or skill dependence. If a person with some specific human capital investment exits the enterprise, it will not only bring losses to the enterprise, but also cause losses to himself, because the value formed by this specificity will not be fully reflected outside the enterprise. Proprietary means that once a resource is detached from the enterprise or organization, it will cause huge economic losses to the enterprise or organization; or, exclusive resources are the basis for the production, existence and development of an enterprise or organization, and its participation The situation directly affects the size of the enterprise or organization and the value of other team members.

The role of human capital is uncertain.

On the one hand, human capital is an invisible capital hidden in the individuals to which it depends, and its role is affected by the individual's psychological consciousness. In other words, as the subject individual, he has the conscious or unconscious choice to make or not to make an effort. The process and result of his choice are affected by the external environment, and this choice will affect his human capital. Play the role.

Human capital has an active role.

Human capital is living capital, while other physical capital and natural resources in the world are dead resources. It will not release huge productivity on its own. Human capital investment is required to obtain benefits. Therefore, the initiative of human capital is the greatest productivity and social wealth, and is the driving force and source for the continuous progress of science and technology. The initiative of human capital makes human capital not only have the function of exerting its own capabilities, but also the functions of absorption and digestion. For example, those companies with high human capital stocks not only have huge inherent creativity, but also have strong ability to absorb and digest foreign technologies, which can effectively transform their own technologies and promote their development, forming a strong competitiveness of enterprises.