Human capital and HR Operations of Hiring Expatriates

Human сapital is a cоmpanу asset, but it’s not listed on the balance sheet. Human capital is all of the creative skills, knowledge, talents, and abilities that embody employees.

Explain the unique characteristic of human capital for the right fit for International Human Resources Management operations of hiring expatriates. Define the ethnocentric, geocentric, polycentric, and regio-centric/region centric staffing approaches with the ability to adapt to different cultures in foreign environments. What are the strategies and challenges?

Write 4 FULL pages of text with 3-4 references in APA Format using the most recent data. Data must be peer reviewed from 2009 to present

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The concept of human capital traces its roots to the science of economic development. According to Kucharcikova et al. (2011), the economist is always interested in explaining workers ability to use machines and cope with hard work at their places of work. To this end, there is a need for knowledge and skills increase by such individuals so that they can be effective and progressive in social development. Until today, there is no consensus when it comes to the definition of human capital because of scientific problems in regards to the understanding of its nature, status, and role. In this paper, I will look at the various definitions of human capital. Next, I will interrogate how human capital affects the Human Resources management operations of hiring expatriates, as well as the strategies and challenges involved. 

Definitions of Human Capital Human capital traces its history to the works of T.W.Schultz and G.S. Becker of Chicago school of economics in the year 1960, when the concept was first developed. It, however, met a lot of resistance before being embraced by some scholars. Schultz states that human capital entails increased investment in individual’s education and training, which in long-term enhance their abilities and bring a change in job performance (1979). Marshal (1998) regards human capital as the sum investment on education undertaken by workers individually or as a group in an organization. Another definition is provided by Becker (1993), who explains that human capital is an inseparable trait from human beings, and is usually viewed in terms of education investment, health, training, and other skills. OKojie (1995), on the other hand, defines human capital as a sum of a country’s human resources abilities and skills. 

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