This paper aims to extend the understanding of human and structural capital as key components of intellectual capital by refining their definitions and outlining their relationships. It argues that psychology and sociology can further develop the understanding of intellectual capital despite having not previously been sufficiently recognised as relevant to the debate. The paper draws on these disciplinary areas to develop a model that specifies subsets of human and structural capital, of intellectual capital and the relationship between them, as a basis for a more comprehensive definition and effective measurement of it across a range of industries and firms. Finally, it argues that it is important for employers to determine how to capture human capital and convert it into structural capital so that it is not lost in times of rapid restructuring and high staff turnover.
This paper reports on a qualitative study conducted in Adelaide, South Australia into the impact of mature‐aged unemployment and under‐employment on the individual. Data were collected by means of six individual and group interviews with a total of 27 participants (17 men and 10 women). The participants were asked about the impact on their quality of life, their expectations for the future and their short‐term and long‐term financial situation. The results suggest that there is a substantial ‘lost generation’ of mature‐aged unemployed people who are characterized by shrinking horizons and impaired quality of life. The participants expressed frustration at being unable to contribute to society and support their own adult children. Inability to use their skills and talents, with consequent skill depreciation, can lead to what we label the ‘peg‐down phenomenon’, an intermediate step between becoming unemployed and entering the ranks of the discouraged job‐seekers that ultimately leads to a premature exit from the workforce. This cohort is different from other age groups of unemployed people because of the unique developmental characteristics of middle‐aged people, compounded by financial and caring demands from both the younger and older generations. The paper concludes with policy recommendations, including expanding social inclusion policies to address the needs of this cohort and early intervention with more focused job‐specific training.
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