Economic value of a workers experience and skills. Human Capital includes education, training, skills and more.
Human capital is a key resource in driving innovation and developing economies. WRI can measure the human capital contribution of organisations by examining the earnings impacts of recipients of training/skills on the student, on the business and on the regional economy.
WRI completed a project for Dubbo Regional Council, Gilgandra Shire Council, Narromine Shire Council along with NSW Department Premier and Cabinet (DPC) to complete the Industry Skills and Opportunities report. This report uses Human Capital to deliver a capital expenditure and employment projection derived from a comprehensive assessment of planned capital projects in the Dubbo, Gilgandra and Narromine region over a 6 year period.
The report contains detailed key findings and provides recommendations for the Councils and the NSW Government to consider. This project was completed to provide a better understanding of the extent that skills shortages are impacting construction, infrastructure, rail and heavy industry sectors in the local economy and what can be done to mitigate these expected skill shortages once the expected major projects have commenced.