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As a company develops a strategy or a new business design, it must pay appropriate attention to the human capital strategy that supports it.
Human capital is the accumulated stock of skills, experience, and knowledge that resides in an organization’s workforce and drives productive labor.
Human capital strategy is a form of asset management: a blueprint for securing, managing, and motivating the workforce needed to support the organization’s strategic goals. To be effective, the management practices that influence the workforce should be consistent with each other and mutually reinforcing.
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