Definitions: Intellectual and Human Capital• Intellectual capital relates to the collective value added to anorganisation by the employees’ knowledge and expertise.• This includes human capital – knowledge and competences that arerequired for particular jobs and that can be developed by learning toachieve higher performance – and social capital – the value thatcomes from networking and customer relationships, for example.• Human capital includes the flexibility of individual employees thatturns them into valuable assets when, through learning, they findthemselves able to make high-performance contributions to theorganisation.• Human capital ‘creates value by investing in the development ofindividuals’ (Stewart and Rigg, 2011, p.186).6
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