Human Capital Acceleration
The term human capital refers to the economic value of a worker's experience and skills. Human capital, an intangible asset, includes assets like education, training, intelligence, skills, health, and other things employers’ value such as loyalty and punctuality and perceived to increase productivity and thus profitability. The Buddhist Economy is revolutionary in the fact that work is meant to be meaningful and creative, not stressful. This system is successful when it is able to focus on the health and spiritual wellbeing of the individual as well as the economic goals being fulfilled. The western concept emphasizes the development of knowledge, skills, and behavior whereas the Buddhist approach polishes inside, or develops people’s minds and souls.
Human Capital formation
One of the emerging development strategies to exploit technology is to develop the country’s human capital to be of high caliber with goodness, ethics and morals, discipline, and a positive attitude toward society. New emerging trend is to focus on the most essential issues is education for human capital building. Empowered people with capability of exploitation of emerging technologies will become the work force that drives a sustainable developed country. Old historical scientific evidenced based facts should be the approach backed by Buddhist concepts for teaching and learning. The holistic view of the world in which everything is interrelated, the discipline, and the interpersonal relations. The western concept emphasizes the development of knowledge, skills, and behavior whereas the Buddhist approach polishes inside, or develops people’s minds and souls.
Buddhism, though primarily misperceived as merely a religion, can be regarded as an integrated source of ideas and insightful learning for so many disciplines and branches of human knowledge, which we are even unaware of till the date. Buddhist values are found incorruptibly alert and alarmed to highlight the profound principles of organizational work ethics, business values, rules and regulations, theory, doctrine, precepts, moral conduct and behavior of the people which are few of critical discussions that modern management practice urges to gauge the success of any institutions. Highlights on the relationship between Buddhist values and work. ethics on human resource management (HRM) practices and organizational performance are important.
Historical evidences of Human Capital in Nepal
Those who don't know history won't be able to improve the present and plan for future generations. Current generation will be able to describe a way that a past historical event could inform their understanding of the recent event. The Cultural Capital, Human Capital and Social Capital were high in Nepal in earlier days, however, youth should find out how such best practices spread from the land of Gautam Buddha into several other countries boosting economy and the same practices deteriorated in our own country. In West Indies countries schools’ children are taught about Nepal as a living museum of the world while teaching about original skills on craft and heritage of Nepal. The emperor of China handed over the daughter from the royal family to Arniko, an artist and Architect of Nepal because of the magnificent skill he possessed then. Many Nepalese people are introduced by Japanese experts to people in Japan and world as people coming from the great nation where best management practices originated in ancient days and they quote the valuable contents written in old ancient carved stone slabs called Shilapatra known as stone documents in the Archeology department and Museums in Nepal. There is a serious need to analyze these trends in Nepal, offering a comprehensive agenda to exploit the opportunities offered by converging technologies while minimizing the risks to vulnerable populations. Researchers should study and propose the ancient Human capital system and draw strategies for building public sector capacity and promoting data and technology governance frameworks in a rapidly evolving technology landscape.
The countries which practiced Pancha Sheel have adopted good governing system in the world. The focus was also on Human Capital Development. Nepal has to explore retrieving stone documented rich information of the past. The knowledge gained from this region of the world was implemented in Korea, Japan, China, Tibet, Laos , Vietnam, Thailand etc. United Nation has reported that countries who adopted these practices (Buddhist econmy) have flourished. The country, the birth place of Gautam Buddha, remained poor. In the past the local citizens had to flee for being attacked by rulers who replaced such best Human Development practices by convincing innocent citizens to believe more into focusing on blind faith based on illusionary theory by engaging them more on superstitious unproductive rituals. They succeeded in filling contents of those innocent brains with fear related belief system erasing the Human Capital development policies of the past.
Evidence based local language
One has to explore India and neighboring countries on regional history from the perspective of language. Prakrit as older than Sanskrit, while the general perception is that Sanskrit is the oldest language and the mother of many other languages. Buddhism is not the name of a religion but that of a civilization. Researchers are now claiming that Vedic religion had flourished in the north-western region of the Indian sub-continent while Buddhism rose in the east. Had Buddhism been a reaction to the Vedic religion, it would have risen in the western part of the country instead of in Keekat Pradesh (Magadha), which was untouched by the Aryans.
Researchers are now referring to Ashokan inscriptions and the statements and the travelogues of foreigners who travelled to India. Buddhist stream is older than the Vedic stream. They are also claiming that the Indus Valley Civilization was also a Buddhist Civilization. The way Buddha is shown draping a shawl and his idols bear striking resemblance to an idol excavated from the Indus valley. They are also saying that Sanskrit is the language of foreigners and Vedic civilization too is foreign. This is reason why foreign rulers like Shakas and Iranis were the first to get the inscriptions written in this language.
The researchers investigated 383 stone inscriptions of Shri Lanka filled with value adding information to the general public. The impression management strategies used by Ceylonese kings to communicate with their subjects are consistent with those used by more modern charismatic leaders. However, the way strategies were implemented differed. This study contributes to the literature on the motivations and impression management techniques used by charismatic leaders and it adds to the limited knowledge on ancient Sri Lanka. Examining how charismatic leaders in the form of Ceylonese kings used inscriptions may provide insights into how modern-day chief executive officers or partners of major accounting practices use narrative components of annual reports and other forms of corporate communications to portray their leadership. Prakrit is the older language. Sanskrit came later.
Chronicling history, historians made additions, alterations and used facts selectively. This history is just the history of those in power. In the words of Chinua Achebe “Until the lions have their own historians, the history of the hunt will glorify the hunter.” That is why, our regional culture is prominent, original culture is deformed and the history of the original inhabitants is patchy. Information system based on true evidences has become a true reality with the availability of growing archeological data, Data Sciences, sophisticated Statistical tools and modern AI based tools.
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The economics of Buddhism brings to the fore a conundrum with which Buddhists have had to contend since the time of the Buddha: how should Buddhists engage in economic activity in order to provide for their individual lifestyles and the Buddhist monasteries that support Buddhism? The widespread image of a monk or nun sitting deep in meditation in a cave may exemplify a religion that values nonattachment to materiality and disengagement with economic action. However, when looking more closely at how Buddhist monastics maintain these austere lifestyles, one sees a complex Buddhist economic engagement throughout the history of Buddhism. The economics of Buddhism examines how Buddhists must necessarily engage in economic relations not only to support their lifestyles, but also to establish and expand Buddhist institutions across the world.
A large part of Buddhist economic engagement involves an economy of merit. Buddhists have been dependent on dāna, a system of donation and sponsorship, that has aided the building and expansion of Buddhism since the time of the Buddha. This merit-based economy involves a system of exchange in which virtuous actions such as generosity are rewarded with an accumulation of merit (puñña), leading to beneficial circumstances in this life or the next life to come. Based on this system of exchange, monks and nuns receive remuneration from the lay community for their services. It is due to this merit economy that monks and nuns have been able to pursue a monastic lifestyle and monasteries have been built, some of which have become economic epicenters for the surrounding community. Historically, large monasteries across Asia have acquired large plots of land, accumulated large storehouses of grains and goods, and engaged in various other economic endeavors, such as lending money, running businesses, hiring laborers, and so forth. In order to maintain these at times very large Buddhist institutions that have supported monks and nuns, and in essence the survival of Buddhism, this system of exchange—money for merit—has been a crucial aspect of Buddhism.
Since the time of the Buddha, the spread and survival of Buddhism has been reliant on economic exchanges and the economic environment of the time. This is very much the case in the early 21st century, with the spread of global capitalism affecting how Buddhist images, goods, and services have been adopted and altered in new environments. For example, with changing economic conditions and the rise of the consumer society, Buddhist monasteries have found new sources of income, such as through tourism. Global sentiments regarding Buddhism as primarily positive, furthermore, have led to the proliferation of Buddhist-inspired objects for sale in the mass consumer society. Instead of seeing Buddhist economic engagement as a paradox, or hypocrisy even, when looking closely at how Buddhism and economic relations are necessarily entwined, one sees a complex relationship that provides the basis for the survival and spread of Buddhism worldwide. Since human capital is based on the investment of employee skills and knowledge through education, these investments in human capital can be easily calculated. HR managers can calculate the total profits before and after any investments are made. Any return on investment of human capital can be calculated by dividing the company’s total profits by its overall investments in human capital.
There is a strong relationship between human capital and economic growth, which is why it can help boost the economy. That's because people come with a diverse set of skills and knowledge. This relationship can be measured by how much investment goes into people’s education. Human capital can depreciate are through unemployment, injury, mental decline, or the inability to keep up with innovation. An individual's human capital may depreciate if they can't or won't adopt new technology or techniques.
Nalanda University destruction
Why real history is never taught in schools ? After all history needs to be authentic. Real History is never taught because Westerners set up our educational system their way and we are following them. It is time, History textbooks are rewritten. 90% of the content in current History books glorify invaders rather than speaking about our rich heritage and about how invaders were responsible in wiping away our rich heritage.
There should be a drive of rewriting History textbooks.Academic organizations should follow this drive. Just imagine how minds of our future generation will be by reading only about glories of invaders instead of knowing about our rich ancient past. Inferiority complex will rule and they will love other cultures rather than their own rich culture.
Buddhism conquer by compassion others conquer by fear, greed and destroying. Buddhism is in every being but people fail to see it. The Great Indian subcontinent all became Buddhist and flourished over in Asia.
India lost a treasure house of information and handwritten texts from ancient period in this incident. India lost a treasure house of information and handwritten texts from ancient period in this incident. The ruins of Nalanda University are located in the Indian state of Bihar about 52–54 miles southeast of Patna.
It was the center of learning from 427 to 1197 CE. It has been called “one of the first great universities in recorded history. Nalanda University was supported by the Buddhist emperors and later in the last phase, by the Pala kings who ruled mostly the south and eastern part of India. It was a completely residential university believed to have 2,000 teachers and 10,000 students.
The curriculum of the university offered the study of abstract knowledge like Philosophy, religion, Buddhism, and scientific thoughts in astronomy, mathematics, anatomy, etc.
Nepal too has lost a treasure house of information and handwritten texts from ancient period. The invaders suppresed the local inhabitants and succeded in silencing them.
Education initiatives
In the last two decades, the world has witnessed an exponential increase in the number of educational institutes to meet the increasing demand for education. This has resulted in an unprecedented shortage of good teachers across schools, colleges and universities for aspiring students.
Recruiting quality teachers has become the biggest challenge for all successful and aspiring to be successful education systems as the success of any education system depends significantly on the quality of teaching professionals. Keeping this challenge in view, Global Placements introduced innovative processes in line with the best practices followed in teachers selection globally. Nepal has to improve this sector.
Education disruption post pandemic
Also clear from the results and role those digital technologies played in overcoming the challenges of the pandemic, government needs to scale up education technology using mobile phones to support school reopening, with long and short-term applications. Remote and e-learning can still play an important role, especially for those with irregular attendance and academically weaker students to offer customized learning paths, even after schools reopen.
Learning using mobile phones is the most well-received approach for e-learning according to our survey, and it covers the majority of the population. Hence, enabling teaching through mobile phones and providing free data packages will be effective in helping students for self-paced learning, augmented by regular monitoring and mentoring.
Low- tech and “no-tech” solutions that have proven effective in other countries (e.g., short message service and phone- based tutoring, solar powered radio, workbooks, and other distance-learning packages) may also be considered. School lockdowns have provoked significant problems, and point to a slow learning recovery amid possible high dropout rates and low attendance after schools reopen. The existing interventions for primary education are therefore unlikely to address these massive impacts. Instead, holistic new interventions are necessary to restore Nepal’s human capital growth to its impressive pre-pandemic track. Global Mobility is a great advantage available to companies to strengthen their operations by drawing on a diverse pool of talents required to succeed in today's business environment.
International talents and business sense
When you look for talent all over the world, you increase the possibility of finding the best talent from global markets. In Sweden there is currently a shortage of skills in certain occupations. One solution is to recruit from other countries.
International recruiters find Strengths in ‘Diversity’ is regarded very favorably as it brings benefits on several levels such as access to alternative ways of thinking.
They see new recruits, with their experience of other countries and business climates, are able to see an operation in new ways and use different approaches to solve problems and develop products. The language skills and market knowledge a recruit from another country possesses provides a company with new ways to enter potential markets. If a company is considering a new export market, there is much to be gained by getting hold of local knowledge about customers and competitors, especially when it comes to the spoken and unspoken rules of business life.
There are also purely human aspects – a job in another country means new experiences, new knowledge and a chance to grow. What's more, whether the person is from a neighboring country or the other side of the world, bridges are built between cultures and people. It arouses curiosity and broadens horizons.
Trends of recruiters
Recruiting is being mission critical in business today. If a organizations don’t have the talents in the world where it is about intellectual property, cyber security and talents to produce great innovative ideas, if it is not at the top of the priority list, industry leaders will face high risk in today’s world. The first thing is capacity planning of people. Industry leaders need to understand what your productivity and output looks like. If things are mission critical for industry leaders, they need to be able to step forward and educate expectations around.
They have to make sure that they focus on telling company story telling. If story telling is weak they can’t articulate your company’s vision, values, roadmaps is, culture is, they are not going to get attention. If they have to prioritize story telling making sure they have mind blowing story to tell. Recruiter should be less like sales people more like business people as you move on to future. How they communicate in business term is critical using data and insights. Workforce planning needs to be agile. How they respond when business changes. How they react work collaboratively to be successful is important,
Human capital allows an economy to grow. When human capital increases in areas such as science, education, and management, it leads to increases in innovation, social well-being, equality, increased productivity, improved rates of participation, all of which contribute to economic growth. Increases in economic growth tend to improve the quality of life for a population.
Ways to increase your own human capital include more education, automating finances to improve efficiency, expanding your horizons outside of your social and workplaces, obtaining more experience, increasing participation in a multitude of activities or organizations, improving your communication skills, improving your health, and expanding your network.
Human capital risk refers to the gap between the human capital requirements of a company or organization and the existing human capital of its workforce. This gap can lead a company towards inefficiencies, inability to achieve its goals, a poor reputation, fraud, financial loss, and eventual closure. To reduce and eliminate human capital risk, an organization should train, foster, and support its workforce.
The future of recruiting Talents
After the Covid-19 pandemic led to a temporary hiring freeze in many industries, things are now brightening up. Entirely new recruiting trends have emerged that were not at the top of HR managers' agendas a year ago. Customizing recruitment and job offers to be more individualistic and candidate-centered. Acknowledging and removing the biases of recruiting teams in order to cement DEI into your organization. Optimizing the inclusion of data, automation and AI in the recruitment process. HR departments need to have the freedom to design products and services for human being behind the employee, and that’s the future. Not only is it now fundamental to offer hybrid ways of working, HR departments need to have the responsibility and freedom to develop products and services that cater to the human being. Companies need to reestablish new and contemporary boundaries between home life and work life, if they want to stay ahead and win the war for talent. People from other countries and parents with young children are in a better position to participate in the labor market than they were before. We now have a global market, that means less excuses to be hiring only male leaders, now is the time to tap into hidden talents, such as career mums or talents who don’t want to relocate. Make the process as data driven as possible so that’s how you get diverse talents in the door, but how do you retain them. Organizations need to focus on short term goals and offer employees a perspective for the next year or two rather than focusing on the wide and long term job perspective. Make the path to growth transparent and ensure opportunities are handed out equally among both genders. Some of the next goals for recruiting include offering more work place policies that are appealing for diverse candidates, such as flexible location and hours as well as offering more part time opportunities, including increasing the number of shared leadership models. Data, automation and ai
When we consider how we can remove biases from recruitment process, we think of making it automated. AI software can’t be biased. AI can learn human biases, depending on who is developing AI itself. AI can learn human biases, depending on who is developing the AI itself. The key to avoiding the replication biases is to ensure a diverse team builds the technology in the first place. It is also important to not only use right data, but also clean it of biases otherwise it can run the risk of enhancing and replicating human biases. Using the right data can significantly reduce time and cost per hire and produce a better employer - employee match. The future contains an combination of AI and people for this people centered business. We need team of Think Tanks wo will handle female factor for global career and leadership community on a mission to close the leadership gap by enabling the next generation of female leaders to get a seat at the table.
Over the past years, Artificial Intelligence (AI) and its participation in decision-making frameworks had exponential growth financially and academically in organizations among diverse industries. Modern society demands to automate tasks, processes, and systems. However, even with the significant growth in AI and consequently in the workforce needed to fulfill current demands, the gender gap is still a problem to be solved as in other STEM fields.
Nonetheless, even with these disappointing statistics about women’s inclusion in AI teams, there is a large spectrum of actions that multiple organizations are applying to close this gender gap. These strategies are only applicable and helpful when women themselves are seeking to achieve gender equality by becoming leaders and valuable team players in areas like Data Science, Machine Learning, AI research, MLOps, among other AI sub-areas. Women around the world are gathering knowledge and strategies to build communities in AI and boost the current and future generations of female leaders. Strategic Plan should be worked out based on key findings from an extensive consultative process, drawing on lessons and recommendations from evaluations, audits, and other assessments.
Women in Data
As Nepal passes the Covid-19 disruptions Nepal has the data on tragic loss of life, economic disruption, and wide-ranging social dislocation. Women were being affected differently than men; that they faced the double burden of job and household; that they, the heart of the informal economy, were first to lose their jobs. Nepal needs to have women working on that data.
Women give a more accurate picture of reality, one that policymakers, community leaders, and women themselves can use to make decisions that will shape Nepal’s recovery from the Covid-19 recession.
Without this vital information on gendered impacts, relief efforts were ineffective and unaccountable. For women in business, the lack of information on eligibility and application criteria became an obstacle to effective relief.
AI will eliminate low skilled jobs. There is a need for more women participating in the data and technology sector to fully appreciate women’s contributions to the economy, governance, and social life and the effects that policies have on them. Stakeholders should workout strategies to encourage girls and women to stay engaged with data and technology.
When it comes to learning math and engaging with data, there are no inherent differences between boys and girls, but social and cultural pressures push girls out of STEM and into other fields. Social factors affect the chances a girl will stay with STEM and forge a career in data or technology.
Math and science are equally important for girls and boys because they teach important analytical thinking skills. Their young minds should be exposed early to STEM toys and learning toolkits to help them develop the foundation of a scientific approach: try, fail, learn, and try again to achieve one’s goals. Most importantly, they will develop the confidence to hypothesize and experiment by themselves, and the self-assurance that they can excel in technical careers.
Girls need female mentors and role models. Girls in urban settings have access to resources (the internet, television, technical schools) that girls in rural settings may not. Making STEM available to all types of girls should be at the forefront of a strategy to increase their representation in STEM. It’s not just the arithmetic but the concepts and logic that math teaches girls and boys that set them up to succeed in STEM fields. At early age right from class five onward teach students to develop thinking in computing way. In eighth and ninth grades, encourage girls to stay in STEM. Women of all backgrounds can work on data-driven initiatives or support women in STEM with programs, jobs, or fellowships.
There is a need for encouraging women’s participation in Data for Development work to encourage evidence-based policymaking in Nepal.