Consider the following statements regarding the concept of Human Capital in strategic human resource management: 1. It encompasses the collective knowledge, technical skills, and intellectual attributes of employees. 2. It represents intangible capabilities and competencies that generate sustained value for an organization. 3. It refers strictly and exclusively to monetary and financial assets invested in payroll and compensation. 4. Practical experience, institutional insights, and personal competencies constitute key elements of human capital. Which of the statements given above are CORRECT?

Human Capital refers to the economic value of a worker's experience, skills, knowledge, attributes, and overall capabilities that contribute to organizational performance and competitive advantage. Why Statements 1, 2, and 4 are correct: Statement 1: Human capital inherently includes the collective knowledge, expertise, and technical skills possessed by individual employees. Statement 2: It represents non-physical, intangible human resources that drive organizational innovation, operational efficiency, and value creation. Statement 4: Practical work experience, competencies, judgment, problem-solving abilities, and personal wisdom are all integral components of human capital.