HUMAN CAPITAL DEVELOPMENT: THE MIDAS TOUCH OF ORGANIZATIONAL PROFITABILITY
Keywords:Human Capital, Development, Profitability, Organization, performance
In recent times, human capital development has been the focus of discussions in corporate organizations around the world. This is due to the fact that the growth of tangible capital stock of a nation is sustained by the quality and population of human capital. Organizations in the current digital dispensation are increasingly paying attention to development of human capital which is essentially the process of increasing knowledge, skills and capabilities of people in an organization to enable such entity to achieve its set goals and objectives. Empirical research method and descriptive research design were adopted in this article. Questionnaire instrument was used to gather primary data from PZ Cussons Plc., Lagos and Nigerian Breweries Plc., Lagos respectively to accomplish the research study. A total of 240 copies of questionnaire were administered to respondents in the two organizations and 174 were correctly completed and returned for analysis. The data gathered were analyzed using tables and percentages. The two hypotheses of the study were tested using Statistical Package for Social Sciences (SPSS) and regression analysis. The results obtained revealed that human capital development has significant effect on workforce contribution to the enterprise and enhanced productivity has significant effect on organizational performance. The paper recommended that corporate organizations should invest substantially in the development of their human capital in view of its immense contribution to the achievement of corporate bottom-line.