• Carol Bond
    Carol Bond, 2017/02/03 09:31

    Further detail about human capital:

    What is it?
    Human capital incorporates the health, knowledge, skills, intellectual outputs, motivation and capacity for relationships of the individual. Human Capital is also about joy, passion, empathy and spirituality.

    Why it is important to organisations?  
    Organisations depend on individuals to function – they need a healthy, motivated and skilled workforce, for instance. Intellectual capital and knowledge management is increasingly recognised as a key intangible creator of wealth. Damaging human capital by abuse of human or labour rights or compromising health and safety has direct, as well as reputational costs.

    Ways that an organisation can enhance its human capital:
    • Give employees (and where possible other stakeholders) access to training, development and life long learning and capture and sharing knowledge.
    • Respect human rights throughout its operations and geographical regions.
    • Understand and respect human values and their different cultural contexts.
    • Ensure adequate health and safety arrangements, incorporating physical and mental wellbeing
    • Use health promotion and education to support a high standard of health.
    • Provide a reasonable living wage and fair remuneration for employees and business partners.
    • Create opportunities for varied and satisfying work.
    • Allow for and enhance recreation time and support individuals’ active involvement in society. 

    For more information please refer to "Capitalism As If The World Matters" by Jonathon Porritt, available from Earthscan.

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