Modification History
Not applicable.
Unit Descriptor
Unit descriptor |
This unit describes the performance outcomes, skills and knowledge required to identify human capital; to consult on the advantages of human capital with internal and external stakeholders or collaborative partners; and to develop and monitor the capital value attained through implementation of development activities. No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement. |
Application of the Unit
Application of the unit |
This unit applies to senior leaders or managers working to enhance individual, team and organisational capabilities. While not all senior leaders and managers will operate within an organisation that acknowledges and treats people as a capital asset, training and related people development activities may be advanced by considering principles and practices relating to the concept of human capital. The unit may relate equally to small scale learning activities within a small to medium sized organisation or a significant activity in a large organisation. |
Licensing/Regulatory Information
Not applicable.
Pre-Requisites
Prerequisite units |
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Employability Skills Information
Employability skills |
This unit contains employability skills. |
Elements and Performance Criteria Pre-Content
Elements describe the essential outcomes of a unit of competency. |
Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide. |
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
1. Identify human capital |
1.1. Analyse and evaluate the principles of human capital theory and concepts 1.2. Assess the factors involved in the formation of human capital 1.3. Determine the capital asset value of human resources in an organisation, an industry or a region 1.4. Determine the relationship between human capital and organisational requirements |
2. Consult on the advantages of human capital development |
2.1. Develop and prioritise strategies for deploying human capital development strategies to support the organisation training needs profile in consultation with key stakeholders 2.2. Negotiate with key stakeholders on opportunities for collaborative human capital development projects |
3. Develop and monitor human capital development |
3.1. Complete human capital needs analysis and development planning according to organisational requirements 3.2. Analyse and interpret information and data on human capital gaps and forecasts 3.3. Implement options and strategies to develop, attract and retain talent 3.4. Implement options and actions to optimise asset value of human resources in relation to organisational strategic imperatives 3.5. Determine talent and develop the potential of human capital required to meet organisational requirements 3.6. Promote the capacity of the organisation, team and individual employees to achieve strategic and personal advantage through effort to develop human capabilities |
Required Skills and Knowledge
REQUIRED SKILLS AND KNOWLEDGE |
This section describes the skills and knowledge required for this unit. |
Required skills |
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Required knowledge |
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Evidence Guide
EVIDENCE GUIDE |
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The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package. |
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Overview of assessment |
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Critical aspects for assessment and evidence required to demonstrate competency in this unit |
Evidence of the following is essential:
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Context of and specific resources for assessment |
Assessment must ensure:
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Method of assessment |
A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:
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Guidance information for assessment |
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:
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Range Statement
RANGE STATEMENT |
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The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included. |
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Human capital is the: |
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Capital asset value is the: |
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Organisational requirements may include: |
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Organisation training needs profile may include: |
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Key stakeholders may include: |
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Human capital needs analysis is the: |
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Information and data analysis will usually occur through deployment of: |
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Options for the purposes of human capital development planning may include: |
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Talent concerns the: |
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Capacity includes: |
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Unit Sector(s)
Unit sector |
Competency field
Competency field |
Workforce Development - Learning and Development |
Co-requisite units
Co-requisite units |
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