Measurement of Human Capital in the Specificity of a Construction Enterprise

AbstractHuman capital management has a well-founded position in every modern enterprise and perception of the human capital, as a source of competitive advantage constitutes a certain standard, which is undisputable nowadays. Numerous definitions of human capital usually present a human being with its central role in every organization constituting a basis for creation of organizational capital of an enterprise. Despite the fact that there is a well-founded opinion and thesis assuming that, contrary to many other intangible assets (including customer's capital), the human capital does not constitute a property of an enterprise, in numerous cases it is necessary to valuate human capital, e.g., for the purposes of proper management of this capital.This paper refers to one of the concepts of human capital measurement involving testing of the influence of human capital costs upon the level of EVA [economic value added] created by an enterprise. The concept presented in this paper is based on a direct analysis of the share of human capital (RHCI – role of human capital index) in the creation of EVA. The share has a character specific for a given sector and the construction sector shows a considerable specificity. The deliberations refer to an analogical concept used by Interbrand for valuation of brands. The first part of the paper refers to methods of valuation of human capital as discussed in the literature and the second (fundamental) part of the paper discusses the proposed model