A Review on Career Capital

Journal of Psychological Science ›› 2016, Vol. 39 ›› Issue (4) : 998-1004.

PDF(466 KB)
PDF(466 KB)
Journal of Psychological Science ›› 2016, Vol. 39 ›› Issue (4) : 998-1004.

A Review on Career Capital

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Abstract

With the development of globalization, the external environment of organization has been changed rapidly. Accordingly, the organization requires competent and flexible employees to adequate the organization development. According to a survey made by Accenture,89% employees consider career capital as the key to career success in the world. 84% employees express that they are trying to accumulate career capital. The research of career capital begins in 1990s. The purpose of this paper is to introduce career capital concept into Chinese career research, expand the research field and develop new direction for career management in China. This paper begins with the introduction of career capital. This concept is put forward by Defillippi and Arthur(1994) and is named as career competencies initially. Each arena of firm competency suggests a matching arena of career competency, which is introduced as know-why, know-how, and know-whom respectively. Many scholars define career capital from different points of view. This paper reviews career capital from the perspective of investment, capital composition and resource embedment. Based on the definitions of career capital, this paper reviews career capital models from the field of career management and human resource management practice. In career management field, career capital model named as intelligent career framework is composed of know-why, know-how and know-who, which is the most popular model in career capital research. In human resource management practice field, career capital contains must have capital and nice to have capital. The former is necessary for career development and the latter is the key to career success. career capital model in human resource management field shows the operation mechanism of career capital components. According to the literatures, the dimensions of career capital are based on three theories. They are intelligent career framework, social theory and resource embedded view. Based on intelligent career framework, the core of career capital is know-how, know-why and know-who, though scholars construct different dimensions of career capital. Based on social theory, researchers put forward that career capital is composed of economic capital, social capital and education capital. Based on embedded resource view, some scholars develop embedded and embodied career capital. As a new concept, career capital has been widely used in career management research. In cross-cultural research, research findings show that expatriation has positive effect on career capital. However, scholars have different findings about the accumulation effect of know-who. Some researches show that expatriation is beneficial to know-who capital; while some others find that it has negative effect on career capital. As for the importance of three dimensions of career capital, the contradiction is more complicated. Some researchers finds know-why is the most important, some finds know-who is, and some finds know-how is. In the literatures of antecedents and results of career capital, this paper categories the antecedents into job, individual and environmental factors, and the results into career success, entrepreneurship and career satisfaction. Finally, this paper shows the limitation of presents researches and directions of the future researches. At the same time, this paper illustrates how to use career capital in human resource management practice. Hopefully, it will provide new thoughts for career management research.

Key words

Career Capital / Career Management / Career Competency / Career Success

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A Review on Career Capital[J]. Journal of Psychological Science. 2016, 39(4): 998-1004
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