Innovation & strategy

Moving From Human Resources to Human Capital to Build Culture of Innovation

Human resources (HR) remains a compliance function in many companies. Building a culture of innovation and promoting creative flow requires reframing HR as a human capital function that develops needed leadership at all levels.
— By Daniel Perez

Human capital (HC) is defined as the economic value of an employee's knowledge, skills, experience, education, training and intelligence. Missing from this definition is the ability to innovate and be creative. Human capital is crucial for business growth, competitiveness, productivity and success, so leaving innovation and creativity out of the human capital definition ignores a critical element of economic value generation. Organizations know they need a culture of innovation, but do they know how to develop it?

HC professionals are tasked with bringing out the best in leaders on all levels and dimensions as contributors to business success through a culture of innovation. Organizational leader...

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