The importance of human capital for an individual coming out of undergraduate or graduate studies is becoming extremely important. It is important because it separates you from other job candidates. It is no longer enough to have a 3.5 to 4.0 GPA. There are thousands of other graduates that have the same scores. Most likely they have similar internships as well. By the way, that’s just with candidates in the United States. There will be continued competition on a global scale, which makes developing your human capital that much more important.
Don’t take my word for it… Listen to your potential employer
Employers continually say there is not a problem in hiring unskilled workers. Their problem is hiring skilled workers. They are constantly complaining that there are not enough qualified candidates. Topmba.com released a survey and the number one item hiring managers wished candidates had more of was leadership skills. We also know that the number one complaint from employers back to universities is the lack of preparedness and lack of leadership abilities. They also point to a lack of experience. 56% of those surveyed said they preferred MBA candidates that had 3+ years of experience before beginning their MBA studies. This compares to only 6% for those that have 0 – 1 year of experience before beginning their studies. This is a statistic every person should be considering when contemplating getting their MBA.
The importance of human capital is also becoming prevalent in lending and financing. This is especially true for those that are 35 years and younger. For more information on how FitBUX uses human capital in our underwriting, please click here. The CFA also has more information on human capital and provides quality materials if you would like to learn more.
This topic is extremely important so please share this article with your friends. We can all use the help.