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9/26/2011 OBECTIVES FEM 4204 • To analyze the human capital planning and development • To examine the current status ...

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9/26/2011

OBECTIVES

FEM 4204

• To analyze the human capital planning and development • To examine the current status of human capital development in Malaysia • To examine the current status of human capital development in various countries • To understand the link between human capital and labor supply

HUMAN CAPITAL PLANNING & DEVELOPMENT: THE GOVT ZURONI MD. JUSOH RESOURCE MGT AND CONSUMER STUDIES, FACULTY OF HUMAN ECOLOGY

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REFERENCES

OUTLINE

• Begg, Begg, D., Fischer, S., and Dornbusch Dornbusch,, R. (1987) Economics,, McGraw Hill Economics • Rahmah Ismail (1996) Modal Manusia dan Perolehan Buruh Buruh,, Dewan Bahasa & Pustaka • Eigth Malaysia Plan 20012001-2005 • Seventh Malaysia Plan 1995 - 2000 • Ninth Malaysia Plan 2006 - 2010

• Human capital planning and development • The current status of human capital development in Malaysia • Human capital development in various countries – Less developed, developing and developed

• Human capital and labor supply

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Human Resource Planning and Development •

Consisted of the following: 1. 2. 3. 4.



Human Resource Planning and Development … cont • The scope:

Population Labor force (tenaga (tenaga buruh buruh)) Employment (Guna (Guna tenaga tenaga)) Education

– Improving human capital – Improving the capability of labor market – Controlling labor supply through population control

• The benefits:

The goals:

– Individuals: job satisfaction; safety and personal development; ensured with higher income – Institutions: Increased/improved creativity, productivity and capability ~ increases profit

– To increase productivity, per capita income and income distribution 5

Human Resource/Capital Planning and Development … cont

The Framework …. POPULATION DEMOGRAPHY Birth rate; Mortality rate; Family Planning

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1. The population planning and development:

SOCIAL

– Consisted of:

Health; Nutrition; Poverty; urban dev

• LABOR Guna Tenaga

EDUCATION Tenaga buruh

Econ aspects (formal & informal)

Preparation; Allocation; Use

Non econ aspects

Demographic aspects: birth rate, mortality rate & family planning – –



70 million population policy plan RM8: Table 4.1

Social aspects: health, nutrition, poverty and urban development

– It influences and related to the planning and dev of

Production capabilities; Per capita Income; Income distribution

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Labor force; employment and education

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Human Resource/Captal Planning and Development … cont

Human Resource/Capital Planning and Development … cont

2. The Labor related planning and development: – Consisted of: •





– Consisted of 2 aspects:

Employment (guna tenaga) –

Need to be planned so that the available labor force (tenaga buruh) can be absorbed RM8: Table 44 -2

Labor force (tenaga buruh) –

3. The educational planning and development: •

– –

• •

In this aspect what need to be considered are: • Preparation of entering the labor market • Budget allocation for improving labor quality • Efficient use of labor

Economic: formal and informal education RM8: Table 44-5; Table 44-6; Table 44-7; Table 44 -9 Government allocation for education and training: RM8 Table 4 -9

Non economic ~ influence the attitude and charisma Both aspects are impt in the development of one’s personality and the quality of labor supplied.

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Human Resource/Capital Planning and Development … cont

Human Resource/Capital Planning and Development … cont

• In short, the process of improving human capital:

HRD and Planning: What is done so far? • RM7 – achieved sustained econ growth through:

– Begin at the early stage of child development. How?

– Increase productivity from increased investment in HRD and new technology – Efficiency in use of labor (unemployment rate is low) – Strengthening the human resource base

• Through children’s nutrition intake and health

– The process continue when the children obtain formal and informal education – When the children finished schooling, they receive training to improve their human capital. 11

• Thus, the SS of highly skilled and trained manpower increased due to expansion in education and training institutions

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Human Resource/Capital Planning and Development … cont • RM8 – The economy moves towards higher capital--intensity and knowledgecapital knowledge-based production process.

Human Resource /Capital Planning and Development … cont • Human Resource Policy Thrust: RM8

– Thus, the HRD&P goal: to create a critical mass of trained, skilled and knowledge manpower with the right motivation and attitude to optimize the use and development of new technologies and materials

• Thus, in RM8 the HRD focus on the enhancement of the qualitative aspects of human resources

– Promoting lifelong learning to enhance employability and productivity of the labor force – Optimizing the utilization of labor force – Increasing the SS of S&T manpower – Accelerating the implementation of the productivityproductivity-linked wage sys – Strengthening labor mkt info sys to increase labor mobility – Promoting M’sia as a regional center of educational excellence – Reinforcing positive values

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Human Resource/Capital Planning and Development … cont

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Human Resource/Capital Planning and Development … cont • RMK 9: Teras keke-2

• Human Resource Policy Thrust: RM8

– Meningkatkan keupayaan pengetahuan, kreativiti dan innovasi negara serta memupuk “minda kelas pertama” – Apa yang dirancang?

– Expand the SS of highly skilled and kk-manpower to support the development of kk-economy – Increase the accessibility to quality educations and training to enhance income generation capabilities and QoL – Improving the quality of teaching and learning materials, teacher training and educational support services to ensure that manpower SS is in line with technological change and mkt DD

• 2 buah universiti di Terengganu dan Kelantan • RM 1.15 billion – menambahbaik kemudahan sekolah luar bandar khususnya di Sabah dan Sarawak • Bina 180 sekolah rendah, 229 sekolah menengah dan sekolah berasrama penuh

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Human Resource/Capital Planning and Development … cont • RMK 9:

Human Resource/Capital Planning and Development … cont •

– Apa yang dirancang?

The measurement: 1. Human capital stock

• RM 690 juta – membina rumah guru sebahagiannya di kawasan luar bandar • RM 1.51 billion – program pengkomputeran sekolah dan RM 284 juta utk program pembestarian sekolah

• •

The number of population completed their education at various level The number of labor force in professional occupations (e.g. medical doctors, engineers) compared with the total population

2. Human capital development rate within a period •

Net increase in the number of people in high level jobs

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Human Resource/Capital Planning and Development … cont •

Other measurements/indicators: 1. Number of teachers per 10,000 populations 2. Number of engineers and scientist per 10,000 pop 3. Number of doctors and dentists per 10,000 pop 4. Ratio of students registered at lower educational level to the total number of pop aged bet 5 to 14 yr 5. Ratio of students registered at tertiary educational level to the total number of pop 19 aged bet 20 to 24 yrs

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Human Capital and Labor Supply • Labor supply: – Is linked to time allocation (mkt work vs other activities), – Time is exchanged for income – In the short run, • how long does one work to earn income is dependent upon the following: – Wage rate; unearned income; income of the spouse; no of children; household work; community work

• Individuals cannot change the market wage rate • Wage rate differentials occur due to differences in individual labor quality (skill, knowledge, health etc)

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Human Capital and Labor Supply

Human Capital and Labor Supply

… cont

• In the long run,

… cont

• In the long run,

– Human capital can be upgraded through education and training which in turn influence the labor earning – The decision to offer/supply labor

– The adjustment of labor involve assessment of current cost (low wage, transfer to someplace else) and future return.

• is related to the “desired education level” (i.e. accept low paying job that offers OJT and high paying job that require transfers to someplace else • Influence family wellbeing

• Thus, this adjustment is called INVESTMENT • The LR labor SS theory is called the Theory of Human capital investment decision

– To ensure better future, achieve higher wellbeing and standard of living, one is willing to spend money on tuition, move to someplace else, get a new job

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Human Capital and Labor Supply

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Human Capital and Labor Supply

… cont

• Types of Investment in Human Capital

… cont

• Measurement of Human Capital

– Investment in the workplace

– The two main components: Education and training – Thus, human capital measurement is based on the return of these two components – The return of other human capital components such as health and migration are difficult to measure

• Formal and informal training

– Investment outside the workplace • Schooling • Health • Seeking for employment

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Human Capital and Labor Supply

THANK YOU

… cont

• The rate of return on education – Formally, it is the interest rate that equates the cost of the investment with the present value of the stream of future benefits from the investment – E.g Bob is contemplating an ‘O’ Level/SPM at age 17 and expects to retire at age 56. 56.

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