Human asset management covers several interrelated and to some degree overlapping concepts, that individually and in combination affect competitiveness and performance.
Short-term and long-term corporate performance may be positively influenced when individual and overall competencies match requirements to execute the strategies.
It is the intrinsic worth of our people that comprise the human capital available to us, and at the same time that worth is a value-creating asset[8] After Andrew Mayo Human Asset Management as a term was first documented and used towards a wider audience by Sandeep Sander, CEO, SanderMap, in a presentation at the Human Resources Management Forum in Genoa, Italy, in October 2002.
Professor Andrew Mayo states in ‘The human value of the enterprise’ that “Every person is an individual, not just another ‘head’.
[9] This point of view was further emphasized by Prahalad and Ramaswamy (2004, p138), when they state that “…core competencies are unique skills that transcend individual business units, are deeply embedded in the organization, are hard for competitors to imitate, and are seen by customers as creating value”.