Application
This unit describes the skills and knowledge required to identify human capital; to consult on advantages of human capital with internal and external stakeholders or collaborative partners; and to develop and monitor capital value attained through implementation of development activities.
It applies to individuals working to enhance individual, team and organisational capabilities. While not all individuals will operate within an organisation that acknowledges and treats people as a capital asset, training and related people development activities may be advanced by considering principles and practices relating to the concept of human capital.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Identify human capital | 1.1 Analyse and evaluate principles of human capital theory and concepts 1.2 Assess factors involved in formation of human capital 1.3 Determine capital asset value of human resources in an organisation, an industry or region 1.4 Determine relationship between human capital and organisational requirements |
2. Consult on advantages of human capital development | 2.1 Develop and prioritise strategies for deploying human capital development strategies to support the organisation’ training needs profile in consultation with key stakeholders 2.2 Negotiate with key stakeholders on opportunities for collaborative human capital development projects |
3. Develop and monitor human capital development | 3.1 Complete human capital needs analysis and development planning according to organisational requirements 3.2 Analyse and interpret information and data on human capital gaps and forecasts 3.3 Implement options and strategies to develop, attract and retain talent 3.4 Implement options and actions to optimise asset value of human resources in relation to organisational strategic imperatives 3.5 Determine talent and develop potential of human capital required to meet organisational requirements 3.6 Promote capacity of organisation, team and individual employees to achieve strategic and personal advantage through effort to develop human capabilities |
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
Skill | Performance Criteria | Description |
Reading | 1.1-1.4, 2.1, 3.1, 3.2, 3.5 | Interprets textual information obtained from a range of sources and determines how content may be applied to develop human capital |
Writing | 1.1-1.4, 2.1, 3.1, 3.2, 3.5 | Integrates information and ideas from a range of sources to identify and communicate a human capital development strategy |
Oral Communication | 2.1, 2.2, 3.6 | Presents information and discusses ideas using vocabulary and features appropriate to the target groups Uses listening and questioning skills to confirm and clarify ideas |
Numeracy | 3.2 | Uses calculations and numerical analysis to analyse and interpret business technology, software applications and undertake statistical analysis |
Navigate the world of work | 1.4, 2.1, 3.1, 3.5 | Understands and adheres to organisational policies and procedures and considers own role in terms of its contribution to broader goals of work environment |
Interact with others | 2.1, 2.2, 3.6 | Collaborates with others to seek and share opinions and negotiate agreement Tailors communication to achieve its purpose, demonstrating understanding of the needs, interests of the audience |
Get the work done | 1.1-1.4, 2.1, 3.1-3.5 | Plans, organises and monitors tasks to implement a human capital development strategy Uses problem-solving techniques to systematically gather, analyse and evaluate information about human capital requirements Uses digital tools and technologies for analysis of data about human capital value |
Sectors
Workforce Development – Learning and Development