The Human Capital Of The World 's Underdeveloped Countries Essay

720 Words Jun 21st, 2015 3 Pages
According to experts, the human capital originated with Theodore Schultz, an economist that was interested in the world’s underdeveloped countries. Mr. Schultz claimed that improving the welfare of poor people did not depend on equipment, energy, land, but rather on education. He also argued that many have neglected to see human beings as capital and therefore they have done a poor job encouraging knowledge. Economist Theodore Schultz became a winner of the Noble Peace Prize in 1979. Today, because of his examples, others have embraced the importance of helping one another become more productive through the motivation of higher education and job training techniques. Studies have proven that investments in human capital are vital in sustaining economic growth. When we invest in human capital it means investing in education as well as on the job training which in turn will improve the quality of our workforce. Human capital and training working together are valuable tools that will provide positive results. Training is linked to performance and employee retention. Organizations that teach, coach, mentor and train their employees show a greater resolution in productivity overall than those that are resistant in molding their employees. To remain in competition, organizations must provide the necessary training to their employees. According to a quote from “Get Your People Working like They Mean It” by: Evelyn Jacks Everything is a Battle” Managers must be willing to engage…

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