Why Focus on Human Capital Risk?
By Oleg Lebedev
A featured article of our April 2020 edition of PRMIA's Intelligent Risk quarterly newsletter
The impact of Human Capital on the economies of entire countries and individual organizations cannot be underestimated. At a macro-economic level, the quality and mobility of Human Capital are important factors when dealing with the consequences of the profound transformation of the world by technological advancements, the globalization of trade and production processes, demographic trends, and intense migration flows. Human Capital is firmly on the agenda of the World Bank and many Central Banks as a key driver of sound economic performance1. In a micro-economic context, Human Capital plays a pivotal role as an important intangible asset, providing a significant contribution to a company’s profitability despite not being listed on its balance sheet. The focus of this article is on Human Capital and the importance of successful management of risk it creates in the context of an organization.
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