Human capital refers to an individual's qualities deemed valuable to the manufacturing process. It includes employee knowledge, skills, expertise, health, and education. Social scientists use this term while referring to the monetary worth of a worker's knowledge and abilities. Explore human capital theory, its development, and significance in enhancing workforce productivity. Learn how businesses leverage it for competitive advantage. The process of adding to the stock of human capital over time is known as Human Capital Formation. In other words, Human capital formation is the process of acquiring and expanding the number of competent, educated, and experienced people who are essential to the country's economic, social, and political development. Human capital is the economic value of a worker's experience and skills that translates to productivity or profitability. Learn how human capital is enhanced by education, training, and benefits, and how it affects economic growth and migration.
