Economics

8 Importance of Human Resources

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Human resource has an important role to play in the economic development of a country. A healthy, skilled, and educated population is the pre-condition of economic development. The utilization of available resources of the country depends upon the availability and the status of the human resource development of the country. In this topic, you will be clear about all the importance of human resources.

Importances of Human Resource

What is human resources?

Human resources refer to the knowledge, skill, efficiency, and physical and mental capacity to do work inherent in the people of the country. Thus, human resources are meant the physical and mental quality of the people of the country.

How human resoruce helps to develop country?

The development of a country depends upon its quality of human resources. The technological development of today’s world is the outcome of human resource development. These efforts have been instrumental in raising the living standards of people through economic growth. Human resources can contribute a lot to the field of economic development. A low level of human development causes a low level of economic growth and further deterioration in the lives of the poor, which will, in turn, lead to malnutrition, poor health, poor education, etc.

Human resource has an important role to play in the economic development of a country. A healthy, skilled, and educated population is the pre-condition of economic development. It increases productivity and also contributes to inequality and justice. The role of human resources in the economic development of a country becomes evident from the following facts:

Mail 8 Importance of Human Resources

1. To utilize natural resources

Nepal has vast potential for the development of natural resources like water, forest, minerals, etc. Human resource is essential for the maximum utilization of these resources. As labor is the only active factor of production, nothing can be done without human efforts.

2. To develop infrastructure

Basic infrastructures such as roads, transportation, communication, power supply, etc. are the precondition of the economic development of a country. The development of these infrastructures depends upon the capability of the human resource of the country.

3.Basis of agriculture and industrial development

Modern and superior technologies should be used for the modernization of agriculture and rapid industrialization. This is possible only by the use of skilled manpower. Agriculture is one of the main sources of raw materials for industry and companies which are based on agricultural items. Using technology in agriculture gives more production of crops and raw materials.

4. To improve technology

Human resources can play a vital role in the improvement of technology. It provides knowledge to change and replace existing and traditional techniques with new technology. This, in turn, helps to improve the economic growth of the country.

5. To increase production

The development of human resources increases the knowledge of natural resources, introduces new production techniques, extends the market, and opportunities for economic activities. These all lead to an increase in production. Moreover, it helps to remove the economic backwardness of the country.

6. Basis of social development 

Civilized society is a sign of human resource development. Human resource development makes society aware of the rules and regulations, the right and duties, and so on because only an educated and awarded person can provide the right message to society. Each and every individual is associated with a society when the manpower of the society is developed then the whole society becomes developed.

7. To utilize physical capital

Existing physical capital should be properly utilized for economic development. Human resources are essential to operate machinery and equipment and to run factories and industries. When they work for the company and industry, their and organization’s capital and profit increase rapidly and continuously.

8. To compensate for the deficiency of natural resources

The utilization of human resources can compensate for the deficiency of natural resources. Many countries like Japan, South Korea, Singapore, etc. are poor in natural resources but they are able to achieve high economic growth through proper utilization of human resources.

Finally, people are both the agents and subject of development, because every effort made on development is ultimately aimed at the welfare of the people themselves.

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Why human resource is important?

Human resource has an important role to play in the economic development of a country. A healthy, skilled, and educated population is the pre-condition of economic development. It increases productivity and also contributes to inequality and justice.

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