Nowadays the role of human resources and knowledge is highly appreciated by companies and organizations. Therefore, the thesis aimed at identifying methods of measuring the value of human resources and capital.
The primary focus was made on situations when standard measuring methods were absent. It is a matter of fact that organizations which are willing to remain highly competitive in business environment have to realize the power of knowledge and to find ways to manage human resources and knowledge more effective.
The central argument of the study was that most organizations were not aware of ways to measure the value of human resources and knowledge and, therefore, they were less effective or even failing in abilities to maximize the value of shareholders. Instead, companies were underutilizing human resources.
Qualitative method was incorporated to collect primary data for study which was run through two phases: pilot testing and large-scale testing. The study provided in-depth analysis and relevant comparison of all industries involved in the project. Deductive category application models and inductive category development steps were used to analyze the collected data. Actually, 80 companies from 16 different regions were analyzed.
Findings suggested that no single standard of measuring the value of knowledge and human resources existed in the market. The one which exists fails to adequately address the true value of human resources and knowledge. Therefore, the conclusion was that the value of knowledge and human resources were not underestimated.
The Business plan on Human Resource Planning 3
The process that connects an organization’s strategic plan with its human resource needs is called human resource planning. The process ensures that staffing needs are addressed to achieve the organization’s objectives. Human resource planning is important because it helps an organization maintain a competitive edge and retain employees. Human resource planning determines the supply and demand of ...
Nevertheless, more attention should be paid to human capital as it is effective way to improve customers’ service and to foster innovations and to increase productivity. It is hardly possible to measure the value of human capital and, therefore, the study proposed to identify knowledge and human capital and only than to think of costs if ignoring knowledge.
