Human capital businesses in Zambia

Human capital is the measure of the economic value of a person. The concept of human capital recognizes that not all labour is equal and that the quality of employees can be improved by investing in them. The education, experience and abilities of an employee have an economic value for employers and for the economy as a whole. The stock of knowledge, habits, social and personality attributes, including creativity, embodied in the ability to perform labour so as to produce economic value. Organizations that focus on this development in education and healthcare are listed in these categories.

In this section of Infobwana, you will find various companies and organisations that provide a wide selection of human capital management services in Zambia. They cover a wide variety of administrative and strategic practices and processes including:

• Training
• Workforce planning
• Workflow management
• Performance management
• Compensation planning
• Recruit hiring
• Payroll
• On boarding
• Time and attendance
• Reporting and analytics
• Compliance
• Employee service and self-service
• Benefits administration
• Retirement services

Factors that determine human capital

• Skills and qualifications
• Education levels
• Work experience
• Social skills – communication
• Intelligence
• Emotional intelligence
• Judgement
• Personality – hard working, harmonious in an office
• Habits and personality traits
• Creativity - Ability to innovate new working practices/products
• Fame and brand image of an individual. e.g. celebrities paid to endorse a product.
• Geography - Social peer pressure of the local environment can affect expectations and attitudes.

Once you get these services and they are done right, they will result in:

• Structural unemployment - Individuals whose human capital is inappropriate for modern employers may struggle to gain employment. A major issue in modern economies is that rapid deindustrialisation has left many manual workers, struggling to thrive in a very different labour market.
• Quality of employment - In the modern economy, there is increasing divergence between low-skilled, low-paid temporary jobs. Highly skilled workers have increased opportunities for self-employment or good employment contracts.
• Economic growth and productivity - Long-term economic growth depends increasingly on improvements in human capital. Better educated, innovative and creative workforce can help increase labour productivity and economic growth.
• Human capital flight - An era of globalisation and greater movement of workers has enabled skilled workers to move from low-income countries to higher income countries. This can have adverse effects for developing economies who lose their best human capital.
• Limited raw materials - Economic growth in countries with limited natural resources, e.g. Japan, Taiwan and South East Asia. Rely on high-skilled, innovative workforce adding value to raw materials in the manufacturing process.