A Systematic Review on Human Capital: A View From Human Resource Development

Abstract

With rising globalisation and the overcrowding of the employment market because of recent crises in numerous economies throughout the world, human capital is receiving more attention. Both developed and developing countries place a greater emphasis on human capital development to accelerate economic growth by dedicating the required time and effort. As a result, one of the most important means of accessing the global stage is to build human capital. Firms must devote the required resources to building human capital, which has a significant influence on performance. From several critical viewpoints, this research investigates the extent to which human capital has direct implications on corporate performance. This survey also intends to review 42 human capital related papers. Additionally, this paper provides a comprehensive study concerning the chronological review based on each publication, while also focusing on and reviewing the topic knowledge utilizing a systematic literature review. Finally, this paper develops a model that explains the relationship between human capital and firm performance.
 Keywords: HRM practices, organization performance, human resource capital, human capital investment, employee engagement