| Title | Literature Review of Human Capital Planning |
|---|---|
| ID_Doc | 66233 |
| Authors | Mohamed, M; Ragab, M; Arisha, A |
| Title | Literature Review of Human Capital Planning |
| Year | 2016 |
| Published | |
| Abstract | Human capital (HC) stands out as a substantial driver of the constant growth of organisations. It is also a key source to develop a sustainable competitive advantage in the current knowledge-based economy. HC, a core component of Intellectual Capital (IC), combines knowledge, skills, and abilities of employees to conduct useful activities in the business context. Forward-thinking organisations tend to formulate their core strategies using effective planning and management of their resources especially the HC. Human Capital Planning (HCP) has recently emerged as an important area of interest for both researchers and practitioners. The planning process includes the identification of the organisation's key strategic priorities and then the human planning takes place to ensure the optimal allocation of intellectual and knowledge resources to achieve business objectives. Organisations are recently alerted to the implications of HCP on minimising knowledge loss, developing knowledge resources, achieving enhanced performance, and fostering innovation. In recent study conducted by IBM, HCP was ranked as one of the top strategic priorities of global leading companies. This paper aims to provide a literature review on the development of the human capital planning process within organisations. The study also highlights major contributions of the prominent HCP frameworks and models used to assist in human capital management in order to leverage the existing knowledge within the organisation. In conclusion, understanding of the principles of HCP will have a its critical contribution in supporting effective Knowledge Management (KM) and equally enhancing organisational performance. |
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