Human Resources

Issues related to development and management of social sector and services 

Significance of Human Capital

• For individuals and families: Higher earnings and improved standard of living
• Generational returns: Benefits of human capital transcend private returns, extending to others and across generations.
• For societies
• Building social capital:enhances social cohesion and equity while strengthening people’s trust in institutions.
• Incremental results on Human Capital: Societies need sufficient human capital in the form of competent people who have themselves been educated and trained as professors and other professionals to produce other human capital.
• For countries
• Human capital complements physical capital in the production process as people with higher human capital can use the physical capital more effectively and adapt faster to technological change
• Education provides knowledge to understand changes in society and scientific advancements, thus, facilitate inventions and innovations.
• People are more productive when they are healthier and appropriately trained. This contributes substantially towards increasing labour productivity and economic growth of a nation
• It is a central driver of sustainable growth and poverty reduction.