In the global economy, the quantity and quality of human resources possessed by a corporate is a key indicator for its competitiveness. Human resources of firms are playing an 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 object to build up panel data which enables to measure the level of human resources of firms both at the firm level and the worker level as well as to measure the relationship between the level of human resources and the performance of firms.
The HCCP 1st wave data was obtained from the 454 firms and 13,000 workers in 2005. The 2nd wave data was successfully collected in 2007. We cleaned the data by various error checking methods for several months. And we added to the data not only the financial informations from Korea Information Service Company but also the patent informations from Patent Agency of Korea.
In 2009 we have surveyed the panel firms to create the 3rd wave data. In total, about 470 firms have been surveyed along with approximately 12,000 workers who are team leaders and teammates. The data collection process goes through December 2009.
In order to reduce the attrition rate, the survey has been conducted as a joint effort between KRIVET and the Ministry of Labor(MOL) of Korea. Also we made efforts to give the services to the panel firms, especially HR(Human Resources) seminar and HR letter on the state-of-the-art human resources methods.
So far, data collection has been made successfully. Data collected still needs to go through validation process where firms and employees will be contacted to verify the answers that are proven incomplete or incorrect. The 3rd wave of HCCP still has the following processes which are composed of error checking, academic seminar, writing basic report, and opening to the public.