The process of developing human capital requires creating the necessary environments in which employees can learn better and apply innovative ideas, acquire new competencies, develop skills, behaviors and attitudes. Therefore, you can state that human capital development revolves around: Talent management.
Affects of human capital development ?
Human capital affects economic growth and can help to develop an economy by expanding the knowledge and skills of its people. The level of economic growth driven by consumer spending and business investment determines the amount of skilled labor needed.
A country which has abundant natural resources is in a position to develop more rapidly than a country that is deficient in such resources. However, the presence of abundant resources is not a sufficient enough condition to explain all aspects of economic growth. Economies are created and managed by people. These people must be capable of performing the duties required to create such an economy. Matters of economic growth and decline hinge on the population. This is called human capital, and to truly understand the world, we must understand the role that populations play in an economy’s growth or decline.
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