According to Peers (2015), “From this perspective, human capital is little more than a historically specific modification to vocabulary about the labour market. Treating individual humans as a source for generating wealth, as a resource to be exploited, and from which to yield surplus” (p.57). The move away from the industrialised society into the 21st century knowledge based society, makes human capital theory even more relevant today. The organisation needs persons who have a strong knowledge base, have the technical capabilities to leverage technology for the benefit of the organisation. Therefore, a tenet of the human capital theory rests in the ongoing education of employees. Buta (2015) states that included in the concept of human capital theory is, “education and professional training (educational capital) - the set of knowledge, skills, economic, socio-cultural, civic behaviors, obtained through the investment in initial training and in the continuous training -ie the integrated system of skills (theoretical, practical, behavioral participatory)” (p.156). Human Capital Theory guides the Human Resource Department (HRD) in carrying out its functions. “All organizations depend on its employees to succeed. Through human capital development interest and commitment to duty is enhanced and hence the stress on investment in education and training in the workplace” (Alika & Aibieyi, 2014, p.58). The HRD for the Ministry of Education must be an example of the validity of the Human Capital Theory. It should be able to prove that educating persons truly makes them into productive and skilled persons who are capable to making their company
According to Peers (2015), “From this perspective, human capital is little more than a historically specific modification to vocabulary about the labour market. Treating individual humans as a source for generating wealth, as a resource to be exploited, and from which to yield surplus” (p.57). The move away from the industrialised society into the 21st century knowledge based society, makes human capital theory even more relevant today. The organisation needs persons who have a strong knowledge base, have the technical capabilities to leverage technology for the benefit of the organisation. Therefore, a tenet of the human capital theory rests in the ongoing education of employees. Buta (2015) states that included in the concept of human capital theory is, “education and professional training (educational capital) - the set of knowledge, skills, economic, socio-cultural, civic behaviors, obtained through the investment in initial training and in the continuous training -ie the integrated system of skills (theoretical, practical, behavioral participatory)” (p.156). Human Capital Theory guides the Human Resource Department (HRD) in carrying out its functions. “All organizations depend on its employees to succeed. Through human capital development interest and commitment to duty is enhanced and hence the stress on investment in education and training in the workplace” (Alika & Aibieyi, 2014, p.58). The HRD for the Ministry of Education must be an example of the validity of the Human Capital Theory. It should be able to prove that educating persons truly makes them into productive and skilled persons who are capable to making their company