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Nowadays many organizations like to emphasize on gaining a competitive advantage in the market. The advance equipments, new technology, good marketing strategic, excellent customer services and many other elements can be the factors to build up for the advantages. However, human resource is still the most important element to determining the success or failure of an organization. Without their support, the organization daily business function will not be done well and ready. Human resource is always related to one organization profitability and their ability cannot be replaced by machines. As is discussed by Hargreaves and Jarvis (1998:3) The skills, knowledge and experience of each individual contribute to the growth of organizations, communities and nations. Such valuable human talent can be thought of in terms of human capital and is one of the primary requirements for national economic development.138 Strategic human resource management is playing an important role as organization development in today’s competitive market. Organizations recognise the importance of focusing on the human factor to contribute ideas in order to improve the productivity. They design the recruiting plan to approach talent peoples, training and develop them in order to perform those competencies. The organization put in affords to meet the expectation of the employees so that create a workplace atmosphere among the employees (Upson,2011). Ironically, while human resources are the most important asset in an organization, they are also the cost involved during the training activity. As is stated by Outlow (1998), the organization suffers the cost if they employed the wrong candidate for the job. Such costs can be calculated in direct and hidden cost. Direct cost can be considered as recruitment advertisement, conduct new training for new staffs, medical check up and so on. Also, the company will found the hidden cost in such that way of lower morale among old employees.
human resources is similar to human capital with very small difference in meaning as human resources more focus in recruiting but human capital more focus in development inside and you can find human capital in companies who have very low turn over or they have low recruitment needs
Dear All,
Let's go to the wide spectrum of Human Resources functions and supports. Human Resources is a terminology phrase comprised for department name. It consists of four sections within HRD. 1. Personnel Management2. Human Resources Management3. Human Capital Management and finally4. People Management.
1. Personnel Management is concerned with obtaining, organizing and motivating the human resources required by the enterprise
2. Human Resources Management is a strategic and coherent approach to the management of an organization's most valued assets - the people working there who individually and collectively contribute to the achievement of its objectives.
3. Human Capital Management is an approach to obtaining, analysing and reporting on data which informs the direction of value adding people management stragegic investment and operations decisions at corporate level and at the level of front line management. In otherway, Return On Investment of Human Resources (ROI)
4. People Management consists with the policies and procedures which govern how people are managed and developed in organization.
Bilvi Thomas
Corporate HR Director
Al Handal International Group - Iraq and UAE
Human Resource is simply human potential. Potential with infinite capabilities and capacity with the possibility of beneficial engagement. Potential however, it must be noted does not have to be productive and that an opportunity has to be provided to translate potential into real value. Human Capital is a well employed human resource that is actively engaged in meaningful, worthwhile work and delivering some level of desired productivity. Human Capital is a question of factoring knowledge and application to physicality.
Yes, i agree with you, Dear Zafar Iqbal.
Human resource management consists of the activities managers perform to plan for, attract, develop, and retain an effective workforce. However, human capital is the economic or productive potential of employee knowledge, experience and actions. Thinking about people as human capital has an obvious basis: Attracting, retaining, and developing great people is sometimes the only way our organizations can keep up with the competition. Furthermore, two concepts important in this view of human resource management are human capital and social capital.
Human Resource is the Human Capital of an organization.
Historically, Human Resource describe the HR function while Human Capital capture details about the people who work for the whole organization; their attributes, their rewards, as well as organizational trends and risks.
Whatever the capital of the financial organization and the availability of all the ingredients is not enough if there is no human element trained to manage all the efficient human element is indispensable
Human resource is the back bone of any organisation and HR department always plays an important role for any organisation success or failure on the other end Human Capital is the people who work for the organisation which comes after all the proces of HR Recruitment and alot depends on Human Capital.
Human resource starts right from employee sourcing & hiring, identifying the talents, placing them in right job, developing the skills, personality and retaining them.
Human capital is cost invested on employees for hiring, training and retaining.
