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| Author: | McKenzie, L. J. Melling, G. L. |
| Title: | Skills-based human capital budgeting: a strategic initiative not a financial exercise |
| Journal: | Journal of Cost Management
2001 : MAY-JUN, VOL. 15:3, p. 30-36 |
| Index terms: | HUMAN CAPITAL BUDGETING SKILLS |
| Language: | eng |
| Abstract: | The authors of the paper state that the human capital planning and budgeting processes, if properly implemented, will become a key driver of strategy. They also state that strategic human capital planning and budgeting ensures that the best resources are mobilized for each internal process. The authors express an opinion that the key issue, in human capital planning and budgeting is ensuring that the right people with the right skills are in the right jobs at the right time. This includes understanding the fungibility level of the organization's human capital as well as the ability to measure and cost human capital capacity. |
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