HUMAN CAPITAL IN THE 21ST CENTURY : A FACTOR DRIVING SUCCESS
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Abstract
This article aimed to 1) study the importance of human capital and analyze the componence of human capital and 2) present guidelines of human capital to according with the 21st century strategies, Human capital was a crucial role in driving organizational success and economic development by enhancing competitiveness and promoting long-term sustainability. According to the perspectives of Schultz (1961: 3; Becker. 1964: 12) found that human capital such as education and training was a vital factor that improved workforce productivity and generated economic returns. Human capital comprised core components including knowledge, skills, abilities, and behaviors (Noe, et al. 2021: 91) all of which were essential variables for organizational effectiveness and performance. In the digital era, human capital management must emphasize continuous development, lifelong learning, and the integration of technology to enhance employee potential in a comprehensive manner. Therefore, a systematic and context-responsive approach to human capital development was regarded as a key strategy for achieving sustainable competitive advantage and long-term organizational success in the 21st century.
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