Managing Human Capital Essay

2492 Words10 Pages
Introduction: Human beings, as a social animal, have been working mutually since the beginning of civilization whether consciously or unconsciously. Human knowledge and experience was the outcome of the ability of managing actions in different complex issues and situations. Organizations while managing people may probably involve in the most difficult task that one faces in his/her daily lives. Though general human anatomy looks alike but not a single individual think, feel, see, hear, taste, understand and behave the same way. Culture, geographical location, nationality, religious beliefs, political, socio-cultural, economical and environmental backgrounds develops a unique set of morals, beliefs, norms and values in an individual. In our daily lives we come across this complexity and variety. This complexity and variety is often regarded as problem in management practice. Manager needs to deal with these issues in everyday work lives. It could be a tough situation for the managers where complexity, variety and diversity are higher depending upon the nature of business and business ethics. As Robbins and Judge (2007, pp.614) state: “competent employees don’t remain competent forever. Skills deteriorate and can become obsolete and new skills need to be learned. That’s why organizations spend billions of dollars each year on formal training” training enhances employees’ performance to greater extent. In the organization, training is considered as a crucial function of human resource. However, the major concerns of training spending should cover the areas of employees’ development to increase the capabilities of organization, productivities and survival in today turbulent economy. So, recognising human contribution for all organisations’ success, institution like CIPD has been emphasising organisations to invest heavily in training and development. An
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