Review Article
The Role of Human Capital in Economic Development: A Theoretical Analysis
Tesfay Gebrehiwet Abrha*
,
Brhane Tesfay Weldeyohans
Issue:
Volume 13, Issue 2, June 2025
Pages:
30-35
Received:
2 March 2025
Accepted:
31 March 2025
Published:
27 April 2025
DOI:
10.11648/j.jhrm.20251302.11
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Views:
Abstract: Human capital is a critical driver of economic development, serving as the foundation for enhanced productivity, innovation, and sustained economic growth. This paper provides a comprehensive theoretical analysis of the relationship between human capital and economic development, examining key dimensions such as education, skill acquisition, and health. By synthesizing established economic theories, the study demonstrates how strategic investments in human capital ranging from formal education and vocational training to healthcare and nutrition generate long-term economic benefits. The findings reinforce the argument that human capital is not merely a complementary factor but a fundamental determinant of economic progress, shaping a nation’s ability to compete in an increasingly knowledge-driven global economy. The analysis highlights the pivotal role of quality education in equipping individuals with the cognitive and technical skills necessary for modern labor markets. Additionally, it underscores the significance of healthcare in ensuring a productive workforce, as healthy individuals are more capable of contributing to economic activities and adapting to technological advancements. Lifelong learning and continuous skill development are also emphasized as essential components of human capital accumulation, particularly in the face of rapid technological change and automation. To illustrate these concepts, the study examines case studies from countries with highly effective human capital systems, such as Finland and South Korea. These nations exemplify how targeted policies in education reform, equitable healthcare access, and gender-inclusive workforce participation can foster economic resilience and growth. Finland’s emphasis on teacher training and equitable education, alongside South Korea’s focus on STEM education and innovation, offers practical insights for policymakers. The paper concludes with actionable policy recommendations, advocating for increased investments in early childhood education, vocational training programs, and universal healthcare. Furthermore, it stresses the importance of gender equality in education and employment to fully harness human capital potential. By prioritizing these areas, governments can lay the groundwork for sustainable economic development, reducing inequality and enhancing global competitiveness. Ultimately, the study reinforces the imperative of human capital development as a cornerstone of prosperity in the 21st century.
Abstract: Human capital is a critical driver of economic development, serving as the foundation for enhanced productivity, innovation, and sustained economic growth. This paper provides a comprehensive theoretical analysis of the relationship between human capital and economic development, examining key dimensions such as education, skill acquisition, and he...
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Research Article
An Assessment of Corporate Wellness Programs on Employee Engagement in Five-Star Hotels in Kenya
Issue:
Volume 13, Issue 2, June 2025
Pages:
36-47
Received:
18 March 2025
Accepted:
28 March 2025
Published:
29 April 2025
DOI:
10.11648/j.jhrm.20251302.12
Downloads:
Views:
Abstract: Five-star hotels in Kenya have experienced high labour turnover which could be attributed to low engagement of workers. This study examined the effect of corporate wellness programs on employee engagement in five-star hotels in Kenya. The study was guided by Maslow’s hierarchy of needs theory. Positivism research philosophy, descriptive research design and stratified proportionate sampling were adopted. Data was gathered from a sample of 369 workers in seven five-star hotels in Kenya using questionnaires. Two five-star hotels in Nairobi City County served as the sites of a pilot test. The acquired data was subjected to both descriptive and inferential statistical analysis with the aid of SPSS version 24. The mean, standard deviation, coefficient of deviation, and percentages were illustrations of descriptive statistics. Multiple regression analysis and correlation analysis were representations of inferential statistics. The results showed that employee engagement and corporate wellness initiatives at Kenya's five-star hotels were significantly and positively related. Based on the study's findings, employee engagement and corporate wellness initiatives in Kenya's five-star hotels are positively correlated, and this relationship was moderated by organizational support. The study recommended that five-star hotels should prioritize the accessibility and convenience of recreational facilities, focus on diversifying the available wellness programs to cater to a broader range of employee preferences and conduct regular surveys or focus groups in order to gauge employee interests and preferences.
Abstract: Five-star hotels in Kenya have experienced high labour turnover which could be attributed to low engagement of workers. This study examined the effect of corporate wellness programs on employee engagement in five-star hotels in Kenya. The study was guided by Maslow’s hierarchy of needs theory. Positivism research philosophy, descriptive research de...
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