ANALYSIS OF HUMAN RESOURCE DEVELOPMENT STRATEGIES: PERSPECTIVES ON HUMAN INVESTMENT MANAGEMENT (HIM), HUMAN RESOURCE MANAGEMENT (HRM), AND HUMAN CAPITAL MANAGEMENT (HCM)

Authors

  • Sumartan Sumartan Program Studi Agribisnis, Universitas Ichsan Sidenreng Rappang, Indonesia
  • Muh Akob Program Pascasarjana STIEM Bongaya, Makassar, Indonesia
  • Edy Jumady Program Pascasarjana STIEM Bongaya, Makassar, Indonesia
  • Syamsu Alam Program Pascasarjana STIEM Bongaya, Makassar, Indonesia
  • Herman Syahruddin Program Pascasarjana STIEM Bongaya, Makassar, Indonesia

DOI:

https://doi.org/10.61912/jeinsa.v4i1.125

Keywords:

Human Resource Development, Human Capital Management, Human Investment Management, Strategic Human Resource Management

Abstract

Human resource development (HRD) has become a strategic factor in enhancing organizational competitiveness and sustainability in the era of global competition. However, partial approaches to HR management often hinder the optimal utilization of individual and organizational potential. This study aims to analyze HRD strategies from three main perspectives: Human Resource Management (HRM), Human Capital Management (HCM), and Human Investment Management (HIM). The research employs a literature review method with a descriptive qualitative approach, examining various scholarly sources related to the concepts and practices of HRD. The findings indicate that HRM focuses on operational aspects such as recruitment and training; HCM emphasizes the management of competencies as strategic assets; while HIM views human resources as long-term investments requiring sustainable development planning. The integration of these three perspectives offers a more holistic approach to designing effective HRD strategies. This study concludes that a balanced emphasis on operational efficiency, human capital optimization, and investment orientation in HR management is essential to achieving long-term organizational goals.

References

Aguinis, H. (2012). Performance Management. 3th Edition. Published by Pearson Education.

Alieffiansyah, M. K., Arifin, M. Z., & Ismail, I. (2024). Tantangan dan peluang MSDM terhadap perkembangan teknologi. Jurnal Media Akademik (JMA), 2(12), Desember 2024.

An, L., & López-Carr, D. (2012). Understanding human decisions in coupled natural and human systems. Ecological Modelling, 229, 1–4. https://doi.org/10.1016/j.ecolmodel.2011.10.023

Armstrong, M. (2006). Strategic Human Resource Management: A Guide to Action. 3rd ed. www.kogan-page.co.uk

Armstrong, M. (2006). A Handbook of Human Resource Management Practice. 10th ed. www.kogan-page.co.uk

Bach, S. & Edwards, M. R. (2013). Managing Human Resources: Human Resource Management in Transition. Edwards. 5th ed. Ed. A John Wiley and Sons, Ltd., Publication

Baron, A. dan Armstrong, M. (2007). Human Capital Management: Achieving Added Value through People. Published in Great Britain and the United States in 2007 by Kogan Page Limited. www.kogan-page.co.uk

Basuki, N. (2023). Mengoptimalkan modal manusia: Strategi manajemen sumber daya manusia yang efektif untuk pertumbuhan organisasi yang berkelanjutan. Jurnal Ilmiah Manajemen, 4(2).

Becker, G.S. (1964). Human Capital: A Theoretical and Empirical Analysis, with Special Reference to Education. University of Chicago Press, Chicago.

Becker, B.E, & Huselid, M.A. (1998). High Performance Work Systems and Firm Performance: A Synthesis of Research and Managerial Implications. Research in Personnel and Human Resources Management, 16, 53-101.

Becker, B.E., & Huselid, M.A. (2006). Strategic Human Resources Management: Where Do We Go From Here? Journal of Management, 32 (6). 898-925. DOI: 10.1177/0149206306293668

Becker, B.E., Huselid, M.A., & Ulrich, D. (2001). The HR Scorecard: Linking People, Strategi, and Performane. Harvard Business School Press.

Behrman, J. M. (1999). Labor Markets in Developing Countries. In O. Ashenfelter & D. Card (Eds.), Handbook of labor economics (Vol. 3). Elsevier.

Bontis, N, Dragonetti, N C, Jacobsen, K and Roos, G. (1999). The Knowledge Toolbox: A Review of the Tools Available to Measure and Manage Intangible Resources. European Management Journal, 17(4), pp 391–402

Bontis, N. & Fitz-enz, J. (2002). Intellectual Capital ROI: A Causal Map of Human Capital Antecedents and Consequents, Journal of Intellectual Capital, 3 (3), 223-247.

Borjas, G. J. (2016). Labor Economics (7th ed.). McGraw-Hill.

Boxall, P.; Purcell, J.; Wright, P. (2007). (Eds.). The Oxford Handbook of Human Resource Management. Published in the United States by Oxford University Press Inc., New York

Brewster, C., Chung, C., & Sparrow, P. (2016). Globalizing Human Resource Management. 2nd Edition. Routledge.

Campbell, J. P., & Wiernik, B. M. (2015). Modeling and assessing work performance. Annual Review of Organizational Psychology and Organizational Behavior, 2(1), 47–74. https://doi.org/10.1146/annurev-orgpsych-032414-111427

Cao, M., Zhao, Y., & Zhao, S. (2020). Facilitating the implementation process of high-performance work systems: The role of authentic leadership. Frontiers in Psychology, 11, 550711. https://doi.org/10.3389/fpsyg.2020.550711

Cascio, W. F. (2022). Managing Human Resources: Productivity, Quality of Work Life, Profits. McGraw-Hill Education

Cascio, W.F. & Boudreau, J.W. (2011). Investing in People: Financial Impact of Human Resource Initiatives. 2nd ed. Pearson Education, Inc.

Chen, S. & Zheng, J. (2022). Influence of Organizational Learning and Dynamic Capability on Organizational Performance of Human Resource Service Enterprises: Moderation Effect of Technology Environment and Market Environment. Front. Psychol, Sec. Organizational Psychology. Vol. 13. https://doi.org/10.3389/fpsyg.2022.889327

Coppin, A. (2017). The Human Capital Imperative: Valuing Your Talent. Published by Springer Nature. DOI 10.1007/978-3-319-49121-9_22

Dai, D. Y. (2020). Rethinking human potential from a talent development perspective. Journal for the Education of the Gifted, 43(1), 19–37. https://doi.org/10.1177/0162353219897850

Dessler, G. (2020). Human Resource Management (16th ed.). New York, NY: Pearson Education. 1

Ekawati, R., & Soleha, L. K. (2017). Meningkatkan Kemampuan Inovasi Organisasi Melalui Human Capital. Jurnal INTEKNA: Informasi Teknik Dan Niaga, 17(2), 141–147.

Fitz-enz, J. (2009). The ROI of Human Capital: Measuring the Economic Value of Employee Performance. American Management Association.

Fitz-enz J., & Davidson B. (2002). How to measure human resource management (3rd Ed.). McGraw Hill. 1

Forrester, S. V., Ustinova, G. H., Kosyakova, I. V., Ronzhina, N. V., & Suraeva, M. O. (2016). Human Capital in the Innovative Conditions. IEJME - Mathematics Education, 11(8), 3048–3065

Frank, Robert H & Ben S. Bernanke (2007). Principles of Micro Economics. (Ed.3). New York: McGraw Hill,

García-Alcaraz, J. L., Alor-Hernández, G., Sánchez-Ramírez, C., Jiménez-Macías, E., Blanco-Fernández, J., & Latorre-Biel, J. I. (2018). Mediating Role of the Six Sigma Implementation Strategy and Investment in Human Resources in Economic Success and Sustainability. Sustainability (Switzerland), 10(6).

Giziene, V., Simanaviciene, Z., & Palekiene, O. (2012). Evaluation of Investment in Human Capital Economical Effectiveness. Engineering Economics, 23(2), 106–116.

Govender, C.M. (2021). (Eds.). Transitioning HRM to HSM - Human Self-Management Goes beyond Traditional HR. DOI 10.5772/intechopen.92925

Gumperz, J. (2014). Investment in Human Resources and the Evaluation of Capital. Financial Analist Journal, 20(5), 134–135.

Hartanto, Mardi F (2009). Paradigma Baru Manajemen Indonesia: Menciptakan Nilai dengan bertumpu pada Kebijakan dan Potensi Insani. Bandung: Mizan

Hermansyah, Tukiran, M., Herlina, E., & Andrianto, M.T. (2022). A Review of Strategic Human Resources Management in Organization. Budapest International Research and Critics Institute-Journal (BIRCI-Journal), 5 (2). 14422-14429. DOI: https://doi.org/10.33258/birci.v5i2.5309

Ingham, J. (2007). Strategic Human Capital Management: Creating Value through People. Published by Elsevier Ltd. All rights reserved

Jack J. Phillips dan Patricia Pulliam Phillips (2015). High-Impact Human Capital Strategy: Addressing the 12 Major Challenges Today’s Organizations. American Management Association: www.amanet.org

Juhro, S. & Trisnanto, B. (2018). Paradigma dan Model Pertumbuhan Ekonomi Endogen Indonesia. Bank Indonesia Institute.

Kucharþíkováa, A., Tokarþíkováa, E., Blaškováa, M. (2015). Human Capital Management – Aspect of The Human Capital Efficiency in University Education. Procedia - Social and Behavioral Sciences. 48-60

Khilji, S. E., & Wang, X. (2007). New evidence in an old debate: Investigating the relationship between HR satisfaction and turnover. International Business Review, 16(3), 377–395. https://doi.org/10.1016/j.ibusrev.2007.02.001.

Kramar, R., Bartram, T., De Cieri, H., Noe, R.A., Hollenbeck, J.R., Gerhart, B., & Wright, P.M. (2013). Human Resource Management: Strategy, People, Performance. 5th Edition. McGraw-Hill Education.

Lee, L. Y., Healy, M. P., Fischer, N. L., Tong, K., Chen, A. S. H., Sahakian, B. J., & Kourtzi, Z. (2024). Cognitive flexibility training for impact in real-world settings. Current Opinion in Behavioral Sciences, 59, 101413. https://doi.org/10.1016/j.cobeha.2024.101413

Lepak, David P; Snell, Scott A (1999). The Human Resource Architecture: Toward a Theory of Human Capital Allocation and Development. Academy of Management. The Academy of Management Review; Jan 1999; 24, 1

Lestari, D. A. P., Khuzaini, Shaddiq, S., Surya, A. & Sulastini (2024). Literature Review: Human Resource Challenges in Facing the Industry 4.0 Era. 1 (1), 1-9, https://journal.lp3ktk.com/index.php/jpe.

Losey, M; Meisinger, S; dan Ulrich, D. (Eds.). (2005). The Future of Human Resource Management: 64 Thought Leaders Explore the Critical HR Issues of Today and Tomorrow. Published by John Wiley & Sons, Inc., Hoboken, New Jersey

Nickels, W. G., McHugh, J. M., & McHugh, S. M. (2019). Understanding Business (12th ed.). McGraw-Hill

Nikmah, W., Mukarromah, A., Widyansyah, D., & Anshori, M. I. (2023). Penggunaan teknologi dalam pengembangan SDM. Mutiara: Jurnal Penelitian dan Karya Ilmiah, 1(5), Oktober 2023.

Paleri, P (2018). Human Investment Management: Raise the Level by Capitalising Human. Springer Nature Singapore Pte Ltd.

Rothwell, W.J dan Kazanas, H.C (2003). Planning And Managing Human Resources: Strategic Planning for Human Resources Management. Second Edition. Published by Human Resource Development Press, Inc. 22 Amherst Road Amherst, Massachusetts 01002

Roziq, M., Reawaroe, H. P. & Rosyidi, A. I. (2021). Investment Perspectives in Human Resources Management and Its Contribution on Organizational Performance and Competitive Advantages. Journal of Management and Leadership, 4 (1).

Schinnenburg, H., & Bohmer, N. (2025). Re-focusing talent management: Frontline and essential work as the contemporary challenge. Human Resource Management Review, 35, 101090. https://doi.org/10.1016/j.hrmr.2025.101090

Shofiana, D., Hasbullah, F., Farida, I., & Larasati, F. (2025). Effective recruitment strategies in modern human resources management. International Journal of Multidisciplinary Research and Analysis, 8(1), 130–137. https://doi.org/10.47191/ijmra/v8-i01-17

Senge, P. (2006). The Fifth Discipline: The Art and Practice of the Learning Organization. Ed. Second. New York: Doubleday.

Snyder, H. (2019). Literature Review as a Research Methodology: An Overview and Guidelines. Journal of Business Research, 104: 333-339. https://doi.org/10.1016/j.jbusres.2019.07.039. (https://www.sciencedirect.com/science/article/pii/S0148296319304564)

Sohel-Uz-Zaman, A.S.M., Kabir, A.I., Osman, A.Z.M.R., & Jalil, M.B. (2022). Strategic Human Resource Management, Human Capital Management and Talent Management: Same Goals Many Routes? Academy of Strategic Management Journal, 21(S1), 1-15.

Stredwick, J. (2023). An Introduction to Human Resource Management. 7th Edition. Routledge

Storey, J., & Wright, P.M. (2023). Strategic Human Resource Management: A Research Overview. Published by Routledge

Sugiyono (2021). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. Cetakan Ke-3. Bandung: Alfabeta

Sutrisno, E. (2010). Manajemen Sumber Daya Manusia. Jakarta: Kencana

Unger, J. M., Rauch, R., Frese, M. & Rosenbusch, N. (2011). Human Capital and Entrepreneurial Success: A Meta-analytical Review. Journal of Business Venturing, 26 (3). 341–358.

Ulrich, D., & Dulebohn, J. H. (2021). Are We There Yet? What We Know About the Role of Human Resource Professionals. Academy of Management Perspectives, 35(1), 29-46. DOI: 10.5465/amp.2019.0140.

Vitzileou, M., Glykas, M., & Melidis, G. (2022). Quality system management: The role of human resources. European Proceedings of Social and Behavioural Sciences (EpSBS), 17th International Strategic Management Conference (ISMC 2022). https://doi.org/10.15405/epsbs.2022.12.02.17

Downloads

Published

2025-06-30

How to Cite

Sumartan, S., Akob, M. ., Jumady, E. ., Alam, S. ., & Syahruddin, H. . (2025). ANALYSIS OF HUMAN RESOURCE DEVELOPMENT STRATEGIES: PERSPECTIVES ON HUMAN INVESTMENT MANAGEMENT (HIM), HUMAN RESOURCE MANAGEMENT (HRM), AND HUMAN CAPITAL MANAGEMENT (HCM). Jurnal Ekonomi Ichsan Sidenreng Rappang, 4(1), 182–196. https://doi.org/10.61912/jeinsa.v4i1.125

Issue

Section

Articles