“Intellectual capital” is treated as a business asset, just as much as any other tangible asset.
Investopedia confirms that, ‘Businesses can increase intellectual capital by hiring better employees, conducting training programs for employees, and developing new patents.’ It includes human capital as a critical component.
The human capital that can be retained with reduced employee turnover is key to building your organization’s intellectual capital. Employee turnover has taken a toll on various industries, as workers are found to be continuously switching jobs, resulting in high attrition rates. As a result, in these uncertain economic times, retaining and engaging employees has become a difficult challenge.