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Human Resource Management in a Business Context, 3rd edition by Alan Price
Human Resource Management in a Business Context provides an international focus on the theory and practice
of people management. A thorough and comprehensive overview of all the key aspects of HRM, including articles from HRM Guide and other sources,
key concepts, review questions and case studies for discussion and analysis.
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Within Europe, the EU has created a new dimension for people management. It
has undertaken a number of initiatives which are aimed at improving economic
conditions in less privileged regions.
Investigate the European Commission: main information site for the European Union
Human capital
Personal and national success are increasingly correlated with the possession of
skills. Skilled individuals can command a premium salary in periods of high economic activity.
Worldwide, unemployment levels remain high, while organizations
have difficulty filling vacancies which require specific expertise. A shortage of skilled people can act as a
limiting factor on individual organizations and the economy as a whole.
It is in the interest of any country to maximise its human resources by
investing in the skills of its workforce, its human capital.
The concept encompasses investment in the skills
of the labour force, including education and vocational training to develop specific skills. Human capital is one component of a country's
overall competitiveness. The most successful developing countries, for example, Singapore and Malaysia, are
investing heavily in the education and technical skills of their population.
Pages 122-128 (pages 56-58 in the 1st edition) of Human Resource Management in a Business Context provides further
illllustrations and analysis of the concept of human capital
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