"The term human capital refers to the economic value of a worker's experience and skills. Human capital includes assets like education, training, intelligence, skills, health, and other things employers value such as loyalty and punctuality. It can be used by an organization to advance its goals. Human capital is important because some level of human knowledge and skills is necessary in order for an organization to accomplish anything. It plays an important role in people's development, improving the life and income, increasing knowledge, skill, and product capacities, economic growth and reducing poverty. The overarching goal of human capital management is to strengthen corporate performance and competitive position. To achieve this, costs must be reduced over the long term while product, process, and service quality are improved. The three human capital components are time, talent and energy."

Saranya R Kurup

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