The quantity and quality of human capital possessed by a corporate is a key indicator for its competitiveness. Human resources of firms are playing a ever more important role as firms face with such changes as rapid technological progress and changes in consumer demand.
The Human Capital Corporate Panel Survey(HCCP) has been launched with an objective to build up panel data which enables to measure the level of human resources of firms and the efforts of firms both at the firm level and the worker level as well as to measure the relationship between these two and the performance of firms. This panel survey is expected to fill the gap given the serious shortage when it comes to the data to measure human capital of firms and their employees and their relationship to the performance of firms.
In 2004, the survey design has been prepared including the questionnaires on firms, establishments, and their employees and the sampling design. Starting in June 2005, based the survey design developed in 2004, data collection has been made on the general characteristics of firms, their HRM and HRD practices, their employee profiles, and IR practices. For firms selected, similar data have been collected for establishments. For the employee survey, teams within the firm which represent the overall function of the firm including the management & administration and production of goods and service have been selected. Within each team selected, the head of the team and several teammates have been selected to be surveyed.
In total, 450 firms have been surveyed along with approximately 13,000 workers who are team leaders and teammates within the firm. The data collection process went through November 2005.
To make the data collection of firms successful which are known to be difficult, special efforts have been made. The survey has been conducted as a joint effort between KRIVET and the Ministry of Labour(MOE) which is expected to increase the response rate of firms. In addition, such organizations by firm owners as Korea Chamber of Commerce(KCC) and Managers Organization supported the survey either by encouraging firms to participate in the survey or by providing useful data.
So far, data collection has been made successfully on 450 firms and 13,000 workers. Data collected still needs to go through validation process in which firms and employees who answered the questionnaires will be contacted to verify the answers that are proven incomplete or incorrect. The 1st wave of HCCP still has the following process left to go though before fully completed...