Human Capital : The knowledge , skills,
and capabilities of individuals that have economic value to an organization.
Human capital is intangible and elusive
and can not be managed the way organizations manage jobs, products and
technologies
If a valued employee leave a company , he
takes their human capital with them
Responding to the Market
- Total Quality Management
- Six Sigma
- Reengineering
Each of the above has direct implication for
HR
Containing Cost
- Downsizing
- Outsourcing
- Productivity enhancements
Performance = f(ability, motivation,
environment)
Demographic Changes
- The diversity challenge
- Age distribution of employees
- Gender distribution of workforce
- Rising level of education
- The changing nature of job
Cultural Change
- Employee rights
- Concern for privacy
- Changing attitude toward work
- Balancing work and family
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