Human capital management: new factors of production in the Indonesian life insurance industry

Suhardi Suhardi (1), Wasiman Wasiman (2), Pramita Studiviany Soemadijo (3), Yvonne Wangdra (4), Titik Purwati (5),
(1) Universitas Putera Batam  Indonesia
(2) Universitas Putera Batam  Indonesia
(3) Universitas 17 Agustus 1945, Surabaya  Indonesia
(4) Universitas Putera Batam  Indonesia
(5) Universitas Insan Budi Utomo  Indonesia

Corresponding Author


DOI : https://doi.org/10.29210/020243130

Full Text:    Language : en

Abstract


In the current era of the Information Society, competition in any business industry is increasingly fierce. However, the lack of skilled workers is a major obstacle in increasing company production. Human Resources problems are still not enough to overcome complex problems. In the current era of modern globalization, competitive advantage is largely determined by the formation of Human Capital. The inadequate level of knowledge from theoretical and practical aspects of Human Capital Management in increasing sustainable production determines the objectives of this research and problem formulation so that solutions can be found, because the attention of developed and developing countries is currently more focused on developing Human Capital which is one of the company's solutions in Human Resources development which tends to have a significant impact on performance. This research examines Human Capital's direct impact on employee performance and becomes a new production factor in the Indonesian Life Insurance industry. The results of this research are to justify and develop that human capital management including TASK (Talent, Attitude, Skill, Knowledge) through continuous training with studies in the Indonesian Life Insurance Industry sector is a production factor that can also improve employee and company performance.

Keywords


Human Capital Management; Human Resource Management; New Factors of Production; Life Insurance Industry

References


Ali, M., Egbetokun, A., & Memon, M. H. (2018). Human capital, social capabilities and economic growth. Economies, 6(1). https://doi.org/10.3390/economies6010002

Alnachef, T., Alhajjar, A., Hasan Alnachef, T., & Ahsan Alhajjar, A. (2017). Effect of Human Capital on Organizational Performance: A Literature Review 4 PUBLICATIONS 48 CITATIONS SEE PROFILE Effect of Human Capital on Organizational Performance: A Literature Review. Article in International Journal of Science and Research, 6. https://doi.org/10.21275/ART20176151

Armstrong, M., & Taylor, S. (2020). Armstrong’s Handbook of Human Resource Management Practice (15th ed.). Kogan Page.

Becker, G. S. (n.d.). The Age of Human Capital.

Bohlander, George., and Snell, S. (2010). Principles of Human Resource. Management (15 Mason). Cengage Learning.

Bontis, N. (2001): Assessing Knowledge Assets: a Review of the Models Used to Measure Intellectual Capital. IJMR

Boon, C., Eckardt, R., Lepak, D. P., &Boselie, P. (2018). Integrating strategic human capital and strategic human resource management. International Journal of Human Resource Management, 29(1), 34–67. https://doi.org/10.1080/09585192.2017.1380063

Cahyaningsih, E., Sensuse, D. I., Arymurthy, A. M., & Wibowo, W. C. (2017). NUSANTARA: A New Model of Knowledge Management in Government Human Capital Management. Procedia Computer Science, 124, 61–68. https://doi.org/10.1016/j.procs.2017.12.130

Cahyaningsih, E., Sensuse, D. I., &Noprisson, H. (2017). Multi Methods for Knowledge Management Strategy Roadmap of Government Human Capital Management. Procedia Computer Science, 124, 496–503. https://doi.org/10.1016/j.procs.2017.12.182

Endri. (2017). Peran Human Capital Dalam Meningkatkan. 6(2), 179–190.

Hossain, M. U., & Roy, I. (2016). Human Capital Management: The New Competitive Approach. In Article in International Journal of Commerce and Management. http://ijecm.co.uk/

Jamal, W. (2011). Impact of Human Capital Management on Organizational Performance. European Journal of Economics, Finance and Administrative Sciences, 34, 55–69. https://www.researchgate.net/publication/227825521

Kasmawati, O. Y. (2017). HUMAN CAPITAL DAN KINERJA KARYAWAN (SuatuTinjauanTeoritis). In Journal of Applied Business and Economics (Vol. 3, Issue 4).

Kucharčíková, A., Tokarčíková, E., &Blašková, M. (2015). Human Capital Management – Aspect of the Human Capital Efficiency in University Education. Procedia - Social and Behavioral Sciences, 177, 48–60. https://doi.org/10.1016/j.sbspro.2015.02.332

LantipDiatPrasojo, Amirul Mukminin, F. N. M. (2017). ManajemenStartegi Human Capital Dalam Pendidikan (1st ed.). UNY Press.

Lengnick-hall, M. L., Lengnick-hall, C. A., & Rigsbee, C. M. (2013a). Human Resource Management Review Strategic human resource management and supply chain orientation. Human Resource Management Review, 23(4), 366–377. https://doi.org/10.1016/j.hrmr.2012.07.002

Lengnick-hall, M. L., Lengnick-hall, C. A., & Rigsbee, C. M. (2013b). Human Resource Management Review Strategic human resource management and supply chain orientation. 23, 366–377.

Marginson, S. (2017). Limitations of Human Capital Theory. Studies in Higher Education, University College London, UK.

Marimuthu, M., Arokiasamy, L., & Ismail, M. (2009). Human Capital Development and ITS Impact on Firm Performance: Evidence from Developmental Economics. In UluslararasıSosyalAratırmalarDergisiThe Journal of International Social Research (Vol. 2).

Mukminin, A., Habibi, A., Prasojo, L. D., & Yuliana, L. I. A. (2019). ManajemenSumber Daya Manusia dalam Pendidikan. In B. A. P. N. M. A. Tahalli& N. Hariyati (Eds.), UNY Press (1st ed.). UNY Press.

Noe, Raymond A., John R. Hollenbeck., B. G. and P. M. W. (2011). Fundamentals of Human Resource Management. McGraw Hill.

Nugraha, P. C., Susilo, H., & Aini, E. K. (2018). PENGARUH HUMAN CAPITAL TERHADAP KINERJA PERUSAHAAN (Studi pada Perusahaan Advertising dan Periklanan Malang yang Terdaftar pada Asosiasi Advertising dan Periklanan Malang). AdministrasiBisnis (JAB), 57(2), 180–189.

Philip, O. O. (2018). Impact of Human Capital Development on Employee Performance: A Study of Selected Oil Service Firms in Rivers. International Journal of Social Science and Management Research, 4(3), 56–69.

Piva, E., & Rossi-Lamastra, C. (2018). Human capital signals and entrepreneurs’ success in equity crowdfunding. Small Business Economics, 51(3), 667–686. https://doi.org/10.1007/s11187-017-9950-y

Prayetno, S. (2017). Strategi Human Capital: SebuahParadigma Baru Bagi Para Eksekutif? Ganesha, 1(2), 97–113.

PutiriBhuanaKatili, M. A. (2017). Pengaruh Human Capital Dan Corporate Value Terhadap Kinerja Karyawan.

Sinambela, L. P. (Prof. D. (2019). ManajemenSumber Daya Manusia. In PT.Bumi Aksara.

Suhardi. (2023). Pengantar Ekonomi Mikro (EdisiRevisi) (R. P. Setyaningrum& N. Aisyah, Eds.; 1st ed., Vol. 1). Gava Media.

Suhardi; Aisyah, N. P. P. T. I. B. U. B. I. A. (2023). The Importance of Human Capital in the Indonesian Life Insurance Industry as a Competitive Advantage. Kurdish Studies, 11(2).

Suhardi; Nainggolan, Nora, P. (2021). Servant Leadership, Team Member Exchange (TMX), and Foreign Ownership Life Insurance Employee Perfor- mance. IOSR Journal of Business and Management, 23(9), 12–20. https://doi.org/10.9790/487X-2309041220

Suhardi; Ratih, Ida Aju Brahma; Sari, I. A. B. (2018). The Effect of Competence, Compensation Of Organizational Citizenship Behavior And Performance Of Employees In Life Insurance Companies In Batam City. Archives of Business Research, 6(10), 295–307.

Taylor Stephen, & C. A. (2014). Human Resource Management (9th ed.).

Venkatesh Ganapathy. (2019). Strategic Management of Human Capital. In Journal of Chemical Information and Modeling (1st ed., Vol. 53, Issue 9). bookbon. https://doi.org/10.1017/CBO9781107415324.004

Zeb, A., Hazana Abdullah, N., Javaid, M., & Asad Khan, M. (2018). Impact of Human Capital Management Practices on Employees’ Job Performance. Journal of Physics: Conference Series, 1049(1). https://doi.org/10.1088/1742-6596/1049/1/012020.


Article Metrics

 Abstract Views : 392 times
 PDF Downloaded : 0 times

Refbacks

  • There are currently no refbacks.