The Role of Human Capital in Today's Competitive Environment

Explain the role of human capital in today's competitive environment?
Why retaining human capital is important for the organization?
Human capital is one of the essential capital in the increasing competitiveness of today's business environment. Since businesses need to differentiate themselves from others, their quality of service or product should be different and unique. In turn, the planning, implementation, and maintenance of these competitiveness advantages would not be possible without human capital.
Accordingly, it a well-known fact among organizations that one of their foremost responsibilities for success is finding the right individuals for their organization. Individuals who have the right skill, attitudes, and values to contribute to their business's continuous growth and competitiveness. Nonetheless, human capital does not stop with the hiring process. It is only one of the phases of human capital, which includes 'developing' and 'retaining' their employees.
As stated earlier, the second part of human capital processes in organizations is the development of their hire...