Human Capital, An Intangible Asset for a Company's success.

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Quote from: karabiber on September 17, 2023, 09:48:17 AM

"Imagine if you took over Silicon Valley, if you conquered it with troops. Where the most valuable companies in the world are, where the richest people in the world invest, what would you get? Nothing."

This sentence appears in Harari's books. Because the only thing that makes Silicon Valley valuable is the people who add value to it. The creativity, intelligence and quality of education of these people make it valuable. They produced 1 gram chips with 10 billion transistors in them from sea sand and opened and closed an era with this. They changed the whole world. This could only be done with human capital, and so it was. Nothing else is needed.

Human capital has always been the most important factor to determine the success of a company and even a country, however during the last decades there has been a shift in the way many companies treat their employees, treating them as if they are just cogs in the machine and they can just replace you with another person without too much of a problem, and while this can be the case in a great deal of positions, there are many employees which quit their jobs or were fired and showed their previous employers that they were indispensable for the operations of the company.

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Quote from: Ayers on September 17, 2023, 03:10:34 AM

Maybe there are differences between countries and I haven't seen what you're talking about in the years I've been an employee. But I have a question, how will they fire you if you work hard and give your all? I mean, are they willing to fire a good employee to replace someone who is lazier than you but still pays that salary? Meanwhile, to retain and receive your dedication, just increasing the salary a little will not be a big request for them. A good leader will never easily give up talented and dedicated people to accept lazy people, that will only cause the company to go bankrupt soon. And as for those companies, they don't even deserve you working for them.

Technically you're correct, but don't forget there are a lot unemployment rate in big population country, so even though he's work really hard, but as long as his position is just a general and easier to be replaced, the owner will have nothing lose to fire him.

Increasing salary a little will not enough because he will try to demand more and more, this make the owner has no option except to fire him than decreasing the company's profit.

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"Imagine if you took over Silicon Valley, if you conquered it with troops. Where the most valuable companies in the world are, where the richest people in the world invest, what would you get? Nothing."

This sentence appears in Harari's books. Because the only thing that makes Silicon Valley valuable is the people who add value to it. The creativity, intelligence and quality of education of these people make it valuable. They produced 1 gram chips with 10 billion transistors in them from sea sand and opened and closed an era with this. They changed the whole world. This could only be done with human capital, and so it was. Nothing else is needed.

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Quote from: serjent05 on September 14, 2023, 05:49:52 PM

It is indeed the workforce is the driving force for a business's success. The right choice of people and the right path of workforce learning enhances this success. A business is nothing when there is no workforce behin it, or the human capital is not managed enough to produce the desired result that give a company more profit.

Giving training to people, allowing them to have a good enough rest, and paying their overtime accordingly will enhance the workforce's loyalty thus can help in securing the future of the company.

Just to add to what you said: it is true that when you show love to the employees, they will also love their work and be encouraged to do it. If the business owners show sincere appreciation to their employees, the employees will undoubtedly return the favor.

If you are the owner of a business or corporation, then it goes without saying that those employees will interact and deal with your clients the majority of the time when you are not at your firm.

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Quote from: Solosanz on September 16, 2023, 09:27:41 AM

Quote from: Ayers on September 16, 2023, 08:49:09 AM

Instead of blaming companies for not treating their employees well. Why don't employees show their full potential because I believe there is no company that doesn't want to value talent. But the sad thing is that most employees always complain that the salary is too low, so they don't want to try their best and only work with the capacity they think is worthy of the salary they receive. They are too greedy when they want to receive a high salary before contributing to the company, while to get a high salary, they must devote themselves first.
If you were a business owner, would you pay high salaries to everyone, even those who know nothing, or would you only pay based on ability after evaluating each person?

This is really depends on where you live.

If you're live in a developed country where they paid high wage according your skill, low corruption, and small population, your point are correct.

But if you're live in a developing country where they paid low or minimum wage, high corruption, and big population, your point are wrong. Even you've work very hard and show your full capability, they will take advantage over your kindness and hard work. They will happy, if their employees are willing to work harder for small amount wage, why not? if you complaining why you're not get higher wage, they can replace you easily because there are many unemployment due to big population.

Maybe there are differences between countries and I haven't seen what you're talking about in the years I've been an employee. But I have a question, how will they fire you if you work hard and give your all? I mean, are they willing to fire a good employee to replace someone who is lazier than you but still pays that salary? Meanwhile, to retain and receive your dedication, just increasing the salary a little will not be a big request for them. A good leader will never easily give up talented and dedicated people to accept lazy people, that will only cause the company to go bankrupt soon. And as for those companies, they don't even deserve you working for them.

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Quote from: Casdinyard on September 16, 2023, 05:35:20 PM

While it is inspiring, There's a darker side to this growing awareness of what Human Capital is. For instance, we're mostly aware of what AI is and how it threatens to take the jobs of regular people away. From grunt work to managerial positions in corporate. We're at the cusp of a paradigm shift which could go well or worse and at this moment, thanks to corporate greed and the lack of care and value for human life by many business owners and corporate personnel, AI is winning, off of the hard works and decades of dedication, talent, and experiences that human workers invested into by the way.

There's also the age-old debate of wage increase which many businesses withhold against their employees regardless of how valuable they are to the company, so yeah. It's one thing to be aware of what Human Capital is, it's another to acknowledge it and give people proper credit and care.

You bring up an important point. The fact that many business owners and company personnel do not care about and value human life has caused the change to accelerate. I do not want to define this change as positive or negative. Artificial intelligence uses the experience humans have accumulated over the years, but can it truly replace human capital? This may happen in some jobs, but not in all jobs. This change is happening because human capital is not valued and there is always a desire to cheapen production.

This sentence of yours summarizes everything. “It's one thing to be aware of what Human Capital is, it's another to acknowledge it and give people proper credit and care.”

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While it is inspiring, There's a darker side to this growing awareness of what Human Capital is. For instance, we're mostly aware of what AI is and how it threatens to take the jobs of regular people away. From grunt work to managerial positions in corporate. We're at the cusp of a paradigm shift which could go well or worse and at this moment, thanks to corporate greed and the lack of care and value for human life by many business owners and corporate personnel, AI is winning, off of the hard works and decades of dedication, talent, and experiences that human workers invested into by the way.

There's also the age-old debate of wage increase which many businesses withhold against their employees regardless of how valuable they are to the company, so yeah. It's one thing to be aware of what Human Capital is, it's another to acknowledge it and give people proper credit and care.

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Quote from: Jawhead999 on September 15, 2023, 03:43:25 AM

Imagine you're have a company and you're really care with your employees for giving many good thing for them, but after next few years they submit a resignation letter Cheesy

You expect them to work for you entire of their life because you've give many training course, development, pay good amount of salary etc, but the reality people comes and go, all of your investment in human capital are become useless because you need to spend more money to train the new employee.

This is why investing in human capital isn't good.

There are pros and cons in investing in Human Capital, the good thing here to avoid such a waste is to find good people that is loyal to the company. People will eventually resign or retire, but the good thing is that the company is able to maximize the potential of that person that produce way more profit than the expenses the company spent training them. Aside from that, these people can also train other people in the company. It is normal to pass down the knowledge and skills to juniors in the workplace.

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Quote from: indo1 on September 15, 2023, 01:43:32 PM

Yes, actually humans have unlimited talents compared to other assets created by humans. but unfortunately employees are underestimated in some countries. assume these are just employees who get paid when they work, even though with the help of the employees the company runs very well. I don't feel human resources are lacking. but sometimes attention from the company, and some needs that should be the company's responsibility are not met.

When it comes to job and professional scale of service pay on wages and salaries, people were not being justified because ot everyone is paid according to how their standard worth or the efforts rendered on the job they do, there's no specific pay rates to each category of labour in work settings and these also is determined by the country where this is applicable to those working under someone, some company earn more but give less to their workers as salary because there's no strict compliance to the appropriate paying rate over human efforts.

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Quote from: lionheart78 on September 15, 2023, 10:35:02 AM

I bet these employees who suffer such exploitation don't have loyalty to the company and they will leave the moment they find the greener pasture with the same treatment or better. However, I cannot deny that many companies thrive like these since they are just lucky to have more people looking for a job than the job availability. This mostly happen to casual employees at the lower level of the chain. But on the higher level job where education, mastery, management, and critical thinking are involved, companies are taking good care of them since they know that the services offered by these individuals are very essential to the company's success.

Definitely, if they see a better opportunity, they will gladly accept, but the problem too is that in some third-world countries where it is usually so difficult to secure a good job, citizens just manage whatever job they have been employed on, no matter the pay or unfair reward for their efforts, and like you said, if it's for a company where the required staff that is needed is less compared to the high number of applicants, those that would be employed would consider themselves lucky, and at such a time, they can decide to work with such company, no matter the condition.

There was this company that my one of my uncle was working with last year (a refinery), but the company usually delays paying salaries; sometimes they can even owe them for three months. Despite the debt the company was owing their staff, they still assured them that they would pay, but the day they were paid, it was only for two months that the company paid for and still owe for one month. Luckily, he got another job with a better offer and pay.

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I've heard the term human capital before when I had an Economics course at the university, but yeah, it was hard for me to understand that initially. Now I think it's actually a huge deal, but also that we should remember that humans are much more than capital and deserve to be treated as much more than that. Interestingly, though, it is acknowledging human capital that can help to improve working conditions and provide opportunities to workers, taking into account that it's a valuable resource that should be cherished and well-cared for.

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Quote from: BitDane on September 13, 2023, 06:45:15 PM

~snip

So for any investors that are aspiring to put up their company own company, one should consider learning about Human Capital because it will really lead a company to success if one manage it successfully.

You probably wanted to say businessman or company founder, right?

So, ~~an investor~~ businessman should undoubtedly think about human capital first of all, because no business is possible without this capital, that is, employees. ~~An investor~~ businessman won’t do all the work himself, right. It is traditionally accepted that the basis of any business is the client, because they bring money and without them the business means nothing. But it seems to me that this doesn't create a complete picture, because I believe that business is also impossible without human capital, that is, people who, through their labor, allow this business to function. And of course, any businessman simply must take this into account.

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Quote from: Darker45 on September 13, 2023, 07:30:30 PM

I always admire companies and businesses, big and small, that heavily invest in human capital. A happy, healthy, and satisfied worker will always be a lot more productive than a worker who is underpaid, overworked, and is only keeping the job merely for the reason that he/she needs to eat three times a day. That's regardless of working hours.

There have already been numerous studies conducted in many parts of the world, for example, that found out that a 4-day working setup is much better than the usual 5/6-day working setup, not only in terms of the workers' health but even in terms of their productivity. Work-related burnout or stress which affects the workers' health and even personal relationships or social life affect their productivity. They'd be less active, less driven, less critical, and so on.

Very suitable. Yes. As you said, the health factor is the main factor that needs to be considered, especially if you work for a company, especially a private one. Usually bona fide companies have big targets at the end of the year and they must be achieved. What is certain is that in order to do/achieve this, their team needs energy, good stamina and a stable health condition in carrying out the company's year-end targets.

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Quote from: indo1 on September 15, 2023, 01:43:32 PM

Yes, actually humans have unlimited talents compared to other assets created by humans. but unfortunately employees are underestimated in some countries. assume these are just employees who get paid when they work, even though with the help of the employees the company runs very well. I don't feel human resources are lacking. but sometimes attention from the company, and some needs that should be the company's responsibility are not met.

Maybe this only happens in one country, because not all companies treat their employees that way. You can look at and research several other companies in different countries to find out how the company treats its employees. Because I think companies that don't respect their employees and take the employees who work for them for granted, the company will not progress and could even potentially go bankrupt if there are no employees working for them anymore in the future.

Employees are part of the company's assets so the company must be able to look after them well enough so that the company can continue to move and operate well every day. Because companies that are able to market their products quite smoothly are companies that do not have problems internally and externally within the scope of their own marketing targets.

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Quote from: Ayers on September 16, 2023, 08:49:09 AM

Instead of blaming companies for not treating their employees well. Why don't employees show their full potential because I believe there is no company that doesn't want to value talent. But the sad thing is that most employees always complain that the salary is too low, so they don't want to try their best and only work with the capacity they think is worthy of the salary they receive. They are too greedy when they want to receive a high salary before contributing to the company, while to get a high salary, they must devote themselves first.
If you were a business owner, would you pay high salaries to everyone, even those who know nothing, or would you only pay based on ability after evaluating each person?

This is really depends on where you live.

If you're live in a developed country where they paid high wage according your skill, low corruption, and small population, your point are correct.

But if you're live in a developing country where they paid low or minimum wage, high corruption, and big population, your point are wrong. Even you've work very hard and show your full capability, they will take advantage over your kindness and hard work. They will happy, if their employees are willing to work harder for small amount wage, why not? if you complaining why you're not get higher wage, they can replace you easily because there are many unemployment due to big population.

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Quote from: Gyfts on September 14, 2023, 08:53:34 AM

Quote from: BitDane on September 13, 2023, 06:45:15 PM

Improve education for your workforce
Provide a work culture that encourages creativity
Divide labor into specialized niches
Hire a diverse workforce
Provide ongoing coaching

Diversity in hiring used to mean ranges of individuals with diverse skill sets. Now, companies have turned diversity hiring to be based solely on race and not skill, sometimes turning down more qualified candidates who aren't of a particular skin color.

I suppose the logic is that diversity in race adds to social capital of a team -- but it's been refuted over and over again that race as a factor alone improves dynamics in the workforce or in academia. No evidence that "diversity hires" do anything but add to a company's ESG score.

That is one of the things that went too much in the wrong direction. Diversity based on race made sense when it first started. Because if we take USA for example, that means if you hire someone because they are white and do not hire a black person, that is racism and that shouldn't have existed. Meaning, a harvard graduate black person versus some state college white person shouldn't even be a question, you hire the harvard graduate everyday, but some companies didn't.

This resulted with diversity hiring, meaning you hire the best of the best from every race, whoever applies, you shouldn't look at their race, and hire them. But then suddenly it went too much ahead and now you hire diversely even if it means hiring someone worse, and went the other way.

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Quote from: indo1 on September 15, 2023, 01:43:32 PM

Yes, actually humans have unlimited talents compared to other assets created by humans. but unfortunately employees are underestimated in some countries. assume these are just employees who get paid when they work, even though with the help of the employees the company runs very well. I don't feel human resources are lacking. but sometimes attention from the company, and some needs that should be the company's responsibility are not met.

Instead of blaming companies for not treating their employees well. Why don't employees show their full potential because I believe there is no company that doesn't want to value talent. But the sad thing is that most employees always complain that the salary is too low, so they don't want to try their best and only work with the capacity they think is worthy of the salary they receive. They are too greedy when they want to receive a high salary before contributing to the company, while to get a high salary, they must devote themselves first.
If you were a business owner, would you pay high salaries to everyone, even those who know nothing, or would you only pay based on ability after evaluating each person?

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Quote from: indo1 on September 15, 2023, 01:43:32 PM

Yes, actually humans have unlimited talents compared to other assets created by humans. but unfortunately employees are underestimated in some countries. assume these are just employees who get paid when they work, even though with the help of the employees the company runs very well. I don't feel human resources are lacking. but sometimes attention from the company, and some needs that should be the company's responsibility are not met.

Although humans have unlimited talents, they cannot do everything they want. That's why they should focus on one thing until they really master it. If they really master it, they can get better jobs and earn better salaries too.

Unfortunately, many workers don't want to improve their abilities and are satisfied with what they get. This makes them unable to develop for the better because they must train them by participating in various training to hone their abilities.

They no longer want to bother training their skills, especially for workers about to retire. They become unproductive for the company and only work as hard as they can and think they will soon retire so there is no need to train their skills.

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Quote from: indo1 on September 15, 2023, 01:43:32 PM

Yes, actually humans have unlimited talents compared to other assets created by humans. but unfortunately employees are underestimated in some countries. assume these are just employees who get paid when they work, even though with the help of the employees the company runs very well. I don't feel human resources are lacking. but sometimes attention from the company, and some needs that should be the company's responsibility are not met.

I understand your point. If employees are paid well there utilization will be very high because monetary reward, salary and compensation are good drive for employees performance most times but when they are underemployed and underpaid, they are also likely not to put in their best or begin redundant in the company. It is wise to make employees happy by making sure they are well enumerated so that their performance can also be top notch and that will help grow the company.

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Yes, actually humans have unlimited talents compared to other assets created by humans. but unfortunately employees are underestimated in some countries. assume these are just employees who get paid when they work, even though with the help of the employees the company runs very well. I don't feel human resources are lacking. but sometimes attention from the company, and some needs that should be the company's responsibility are not met.

Topic: Human Capital, An Intangible Asset for a Company's success. (Read 388 times)