INTERNATIONAL JOURNAL OF PROFESSIONAL STUDIES

The human resources employed within the organizations are required to possess certain knowledge, competencies and aptitude in order to carry out their job duties in a well-organized manner and achieve desired goals and objectives. Human capital is referred to the knowledge, skills and capabilities that are possessed by the human resources. In order to achieve personal as well as professional goals, it is essential for them to pay adequate attention towards bringing about improvements in the concept of human capital management. In order to enrich human capital management, it is vital for the members of the organization to pay adequate attention towards understanding human capital theory and human capital measurement. Proper methods and strategies need to be put into operation to put into operation human capital management. The main areas that have been taken into account in this research paper include, understanding human capital and human capital management, difference between human resource management and human capital management, the elements of human capital, the significance of human capital theory, approaches to people management raised by human capital theory and human capital measurement.

Keywords: Competencies; Human Capital Management; Human Capital Measurement; Human Capital Theory; Knowledge; People Management