Human capital management (HCM) has sometimes been described simply as the new name for human resource management. However those active in HCM say this interpretation misses the point.
This page provides links to a broad range of resources relating to human capital management from Personnel Today, including our blog and a podcast. But we also aim to present here a wealth of other information about human capital management from throughout the internet.
Karen Dempsey interviews Northgate HR's Steve Foster (pictured), who gives an accessible account of what human capital is and how you can embrace it in your organisation.
What is human capital management?
The Chartered Institute for Personnel and Development (CIPD) has described human capital management as the “skill, experience and capacity to innovate, that is owned by individuals”, a sub-category, alongside social and organisational capital, of intellectual capital.
In June 2007, Wikipedia described human capital as “the stock of productive skills and technical knowledge embodied in labour”. It then goes on to look at how the term was used by economist Adam Smith in the 18th century before being used by 1950s economists such as AW Lewis and Arthur Cecil Pigou.