Home About IUP Magazines Journals Books Amicus Archives
     
A Guided Tour | Recommend | Links | Subscriber Services | Feedback | Subscribe Online
 
Effective Executive Magazine:
Human Asset : Leverage on it
:
:
:
:
:
:
:
:
:
 
 
 
 
 
 
 

 
 
 

Companies can retain their talented people by using knowledge management so that they are given an opportunity to transfer and share their knowledge. They can enhance employee retention rates by recognizing the value of employee knowledge and rewarding them for it.

Most of the organizations think that their employees or hu- man resources constitute the most valuable element in their asset portfolio. People are not organizational asset: they cannot be owned or controlled. However, people are the owners of human capital-talent, skills, knowledge and enthusiasm—some of which are invested in their work.

The company acquires this human capital asset in exchange for rewards (salary, benefits and perquisites). Organization theory views labor as a cost to be controlled. Moreover, since labor cannot be separated from human motivation and free will, incentives are needed to ensure that employees commit their full energies and skills to the goals of the organization.

As human capital, knowledge-based perspective understands workers as human assets who create the value of the organization. By joining and staying in the organization, employees invest and put at risk some of their human capital.

By taking advantage of opportunities for continued learning and development, their human capital is deepened and expanded. Since employees have interests and obligations outside of work, to their families, communities and themselves. They cannot and do not wish to commit their full energies to the organization. Therefore, efforts are needed to integrate work and personal aspects of life. Employees also bring a variety of expectations to their jobs, including an interest in having meaningful influence and voice in matters that are important to them. At the same time, employers can reasonably expect employees and their representative organizations to contribute to the continued viability and effectiveness of the enterprise.

 
 
 

The company acquires, human capital asset, exchange for rewards, salary, benefits, perquisites, Organization, views labor, cost to be controlled, human motivation, employees, full energies and skills, human capital, knowledge-based perspective, advantage of opportunities, development, interests and obligations, families, communities, personal aspects of life, expectations to their jobs, effectiveness of the enterprise