Reflection On Human Capital In Organizations

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In any organization, human capital is an extremely important asset and in a country like Singapore which relies heavily on its human capital, human resource management is indeed a challenging issue. In this reflection paper, I would critically evaluate on important theories and concepts related to human capital with a focus on the lifelong employment structure, flexi-time work model, and communication in the workforce. Also, I would relate these concepts to my personal work experiences and give further insights. Lifelong employment is an employment model which is widely adopted in Japan after the war period. Under this lifelong employment or shushin koyo system, an individual remains employed since his graduation from his studies till retirement . An important seniority-based promotion and wages structure known by the Japanese as nenko system often goes along with shushin koyo. Although in Singapore, such an employment model has never gained an extensive reach, I did get to observe Japanese employees staying loyal to their jobs or rather, their careers, during my short working stint as an administrative officer in a local Japanese Engineering firm. Many of the Japanese workers have remained in the company’s employ for at least a decade. Unless they commit serious breaches of ethics, they are likely to stay employed in the corporation for their entire career life. The shushin koyo system offers a high degree of job security to the employees. Furthermore, employers can invest heavily in human capital without fearing that the employees will leave the company after all the money is spent to train them. In this way, the company can nurture a strong, loyal and highly-skilled workforce that benefits the company greatly. However, in Singapore, with differences in culture and attitudes of her people from the Japanese, lifelong employment does not appeal that much

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