The Value of Human Capital
What is Human Capital?
It is the Value each human is able to Create and Contribute to grow Personally and Professionally in the context of each one’s Life and Work; respectively.
Value is measurable as Functional (Quality), Economic (Cost), Lifetime (Delivery / Time), Emotional (Service / Empathy) and Brand (Digital Flexibility); mutually inclusively in the modern context.
This isn’t a new revelation but one that needs to be understood in the context of the emerging Digital World. Imagining and Institutionalizing Value demands a Dramatic Transformation; first at the level of Mindset / Education that is followed by Approach / Ownership (Technique and Tools) and Institutionalization / Ecosystem (Adoption of a Universal Process).
Why is it important to understand this formally?
Until this point in history, the evolution of society through the four generations of Industrial Revolution and three generations of Web / Internet with the preceding Renaissance failed to:
- Recognize the Value of Human Potential (Aspirations) and Performance (Expectations).
- Controlled the Value Creation Process with the power of Government, Industry and Commerce.
- The democratization opening a sliver of opportunity for a few has only worsened the problem; instead of uplifting the rest of their ilk, the privileged crossed over to the other side.
Isn’t it about time we look at employment in a mutually inclusive context of Intrapreneurs, Solopreneurs and Entrepreneurs. Shifting people from mere Consumers (Resources) to Contributors (Creators). We need to stop using the term Job and instead replace it in our dictionaries as Work.
In the narrative of the Future of Work, the origin is the Workforce. And this Workforce needs to be Transformed to raise Capital for a New Sustainable Planet that is different from the one that we currently live in and is on the precipice of a self-destructive implosion.
Each human is a unique life being with their own Aspiration / Potential that is infinite in its very nature. But evolution of life has limited Human Thinking severally; owing to Socio, Economic and Political forces usurping the power to influence and insist on a small minority controlling a large majority. The internet and Digital Technologies are empowering humans with Learning & Knowledge that can lead to the decontrolling / delimiting of the power exercised by a few to a larger section of the society; but the creation and progress of new Structures, Synergies and Systems is largely hampered by divisive narratives and a lack of unified approach.
Each Individual will have to take the accountability for the shift of power from forces that limit the potential to grow sustainably. The powers that be have no vested interests in transforming the way things are.
Shifting a Financial to Human Ecosystem
Let’s put the horse before the cart. Humans can connect to anyone anywhere on the planet through digital technologies. With the emerging enmeshed networks backed by pervasive computing, the Internet of the past will transform to Global Network of Communities that work with one another in a more sustainable manner than currently. Circularity will come to mean a Glocal (Globally Local) execution morphing the difficulties posed by the current Supply Chains. The Structures will truly adopt the distribution of Power, the Synergies will build a bridge across Global Cultures and the Systems will be democratic in letter and spirit.
Let us stop stereotyping and limiting people’s potential with pithy livelihood schemes. The people anywhere in the world don’t need Schemes but rather Synergies that include them in the human ecosystem. Don’t reserve opportunities but rather open it up for them and let them experience the freedom of being Valued. Governments and Societies must stop patronizing and start participating in the lives of people; both the privileged as well as the underprivileged. Both need to transform to a new societal paradigm that works on the triad of Social Justice, Increased Rate of Innovation and Sustainability.
It is important to understand and implement the concept of Equitable Income that places responsibility on both the Workers and Employers to engage in a contract that is equitable. The Worker’s Capabilities must be directly proportional to their Income. With a clear measurement of the the levels of Maturity as indicated in the Illustration 2 above. Therein lies the incentive for the triad of Societal Goals to be accomplished with measurable metrics.