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Measure human capital because people really matter: development and validation of human capital scale (HuCapS)

Rinki Dahiya (Department of Organisational Behavior and Human Resource Management, Indian Institute of Management Sirmaur, Paonta Sahib, India)
Juhi Raghuvanshi (Technology Management and Entrepreneurship, University of New Brunswick, Fredericton, Canada)

International Journal of Productivity and Performance Management

ISSN: 1741-0401

Article publication date: 30 August 2021

Issue publication date: 24 June 2022

616

Abstract

Purpose

Notwithstanding the findings of several published articles on human capital, there is scarcity of a comprehensive instrument to measure it. In this direction, the objective of present research is to develop a valid and reliable scale to assess human capital.

Design/methodology/approach

This research was divided into two parts. Study 1 focused on literature review of human capital measures, development of items and exploring the factor structure of human capital construct on a sample of 184 employees. Study 2 was based on the survey of 212 employees, and reliability assessment and confirmatory factor analysis was performed to validate the factor structure of human capital construct.

Findings

The findings can be summarized in two ways. Study 1 present that human capital scale is multidimensional consisting of employee capability, leadership and motivation, employee satisfaction and creativity. The findings of study 2 confirms the validity and reliability of three factor structure of human capital construct consisting of 18 items in total.

Practical implications

The study provides a multidimensional psychometric instrument which can help in measuring the human capital of the organization from the perspective of capabilities, satisfaction and creativity and leadership and motivation. Moreover, it can serve as an aid to human resource (HR) and human resource development (HRD) professionals for human capital assessment in the organizations.

Originality/value

This study provides a measure to assess human capital in Indian manufacturing sector organizations that makes a novel contribution to the area.

Keywords

Acknowledgements

Declaration: There is no potential conflict of interest

No funding was taken to conduct the research study

Citation

Dahiya, R. and Raghuvanshi, J. (2022), "Measure human capital because people really matter: development and validation of human capital scale (HuCapS)", International Journal of Productivity and Performance Management, Vol. 71 No. 6, pp. 2235-2261. https://doi.org/10.1108/IJPPM-11-2020-0594

Publisher

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Emerald Publishing Limited

Copyright © 2021, Emerald Publishing Limited

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