ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Similar terms include manpower, labor, personnel, associates or simply: people.

Detailed explanation-2: -“Human capital” is a term that refers to the people or the workforce who are available for various jobs. “Labor” is the work that people do. 2. “Human capital” refers to the knowledge, competence, and the ability of people to perform labor.

Detailed explanation-3: -A human resource is one person within a company’s overall workforce, with each person lending their skills and talents to the organization to help it succeed. Any person willing to trade their labor, knowledge, or time for compensation in an effort to improve the organization is a human resource.

Detailed explanation-4: -Other terms sometimes used to describe the HRM field include “organizational management", “manpower management", “talent management", “personnel management", “workforce management", and simply “people management".

Detailed explanation-5: -Hiring, firing, and training are some examples of human resources (HR) responsibilities.