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Personnel economics has been defined as "the application of economic and mathematical approaches and econometric and statistical methods to traditional questions in human resources management". [1] It is an area of applied micro labor economics , but there are a few key distinctions.
It is often required of human resources departments to show the organizational value of money and time spent on human resources management training and activities. The value of reporting and analysis of HR performance in various areas aims to improve the organization's function and internal temperature. [1]
Human resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. [1] [2] A narrower concept is human capital, the knowledge and skills which the individuals command. [3]
The human performance improvement industry uses job analysis to make sure training and development activities are focused and effective. [3] In the fields of human resources (HR) and industrial psychology, job analysis is often used to gather information for use in personnel selection, training, classification, and/or compensation. [9]
Human capital or human assets is a concept used by economists to designate personal attributes considered useful in the production process.It encompasses employee knowledge, skills, know-how, good health, and education. [1]
Human performance modeling (HPM) is a method of quantifying human behavior, cognition, and processes.It is a tool used by human factors researchers and practitioners for both the analysis of human function and for the development of systems designed for optimal user experience and interaction . [1]
A meta-analysis of selection methods in personnel psychology found that general mental ability was the best overall predictor of job performance and training performance. [13] While intelligence (general mental ability) is the strongest known predictor of job performance, that is less true for fields that are information-rich and require much ...
Human performance technology (HPT), also known as human performance improvement (HPI), or human performance assessment (HPA), is a field of study related to process improvement methodologies such as organization development, motivation, instructional technology, human factors, learning, performance support systems, knowledge management, and training.