TITLE: IMPLICATIONS OF INTELLECTUAL CAPITAL ON HUMAN RESOURCES MANAGEMENT

TABLE OF CONTENTS

1. Introduction pg 3
2. Elements of Intellectual Capital pg. 3
3. Preserving Intellectual Capital pg. 4
4. The Importance Of Implementing Intellectual Capital Processes pg. 4-5
5. The Value Factor pg. 5
6. Employee and Management Training & Development pg. 5 -6
7. Capture Process pg. 6
8.
It is very probable that many employees at this very time are quietly researching other places to work. In a Monster.com survey taken in May, 2009, 79% of jobholders expressed that they had stepped up their search for a new place to work since the recession began. Many employers may not fully grasp what it takes to retain good people. Therefore, “Intellectual Capital” is not only today’s challenge, but will most likely become tomorrow’s asset.
The Importance Of Implementing Intellectual Capital Processes
A key challenge today is that employees have tremendous knowledge about their job, the business processes, the data that supports their job and those processes, as well as knowledge of how most effectively to make things happen, and the insight about what works and what does not. Unfortunately, in most situations, they have no means, or incentive, to share their knowledge i.e. Their knowledge has not been captured, transferred, or made available to others. One impact of today’s recession and unemployment situation is that this knowledge is potentially lost to the organization. Human Resources professionals and managers have a major challenge to obtain and store information about:
• Core job knowledge of all employees, their experience, and their key skill-sets.
• Training is perhaps more important than ever.
• Performance review