Culture of Polis, Year XVIII (2021), Issue 44, pp. 293–305
ISSN 1820-4589

Belgrade Academy of Business and Art Vocational Studies, Belgrade, Serbia

Faculty of Management, Sremski Karlovci, Serbia

UDC: 331.56:332.1

Review work
Received: 2021-02-05
Approved: 2021-02-23
Online: 2021-03-08


In modern business conditions, a special place belongs to the services provided by ICT companies. The most valuable property of these companies is human capital, ie employees with their knowledge, abilities and possibilities. The subject of research is human capital as one of the most important components of intellectual capital. The aim of this paper is to analyze human capital and its basic components: learning and education, experience and expertise, and innovation and creativity. In the period June-August 2020, research was conducted in ICT companies of the Republic of Serbia. The findings of the research showed that the employees in these companies assessed learning and education as the most important factor of human capital. These results should serve as a guideline for managers to identify the components of human capital that need to be further acted upon in order to improve the overall performance of employees, which directly reflects on the growth and development of the company itself.
human resources, ICT companies, knowledge economy, intellectual capital, human capital, innovation


  1. Аmstrong, Micheal. 2007. Strategic Human Resource Management: A Guide to Action, third edition. London: Kogan Page.
  2. Baron, Angela, and Michael Armstrong. 2008. Human Capital Management: Achieving Added Value through People. London, Philadelphia: Kogan Page.
  3. Bahtijarević-Šiber, Fikreta. 2014. Strateški menadžment ljudskih potencijala – Suvremeni trendovi i izazovi. Zagreb: Školska knjiga.
  4. Berger, Lance, and Dorothy Berger. 2004. The Talent Management Handbook: Creating Organizational Excellence by Developing and Promoting Your Best People. New York; London: McGraw Hill.
  5. Bontis, Nick. 1998. „Intellectual Capital: An Exploratory Study That Develops Measures and Models.“ Management Decision 36 (2): 63–76. doi: 10.1108/00251749810204142.
  6. Bontis, Nick, William Chua Chong Keow, and Stanley Richardson. 2000. „Intellectual Capital and Business Performance in Malaysian Industries.“ Journal of Intellectual Capital 1 (1): 85–100. doi: 10.1108/14691930010324188.
  7. Bose, Ranjit. 2004. „Knowledge Management Metrics.“ Industrial Management & Data Systems 104 (6): 457–468. doi: 10.1108/02635570410543771.
  8. Boudreau, John, and Ramstad, Peter. 2007. Beyond HR: The New Science of Human Capital. Boston, MA: Harvard Business School Press.
  9. Viedma Marti, José Maria, and Maria Cabrita. 2012. Entrepreneurial Excellence in the Knowledge Economy: Intellectual Capital Benchmarking Systems. Basingstoke: Palgrave Macmillan.
  10. De Pablos, Patricia Ordóñez, and Miltiadis Lytras. 2008. „Competencies and human resource management: implications for organizational competitive advantage.“ Journal of Knowledge Management 12 (6): 48–55. doi: 10.1108/13673270810913612.
  11. Dessler, Gary. 2007. Osnovi menadžmenta ljudskih resursa, četvrto izdanje. Beograd: Data status.
  12. Đorđević-Boljanović, Jelena. 2009. Menadžment znanja. Beograd: Data status.
  13. Edvinsson, Leif. 1997. „Developing intellectual capital at Skandia.“ Long Range Planning 30(3): 366–373. doi: 10.1016/S0024-6301(97)00016-2.
  14. Erwe, Ronel, Barbara Skadiang, and Banjo Roxas. 2017. „Knowledge management culture, strategy and process in Malaysan firms.“ Knowledge Management Research & Practice 10 (1): 89–98. doi: 10.1057/kmrp.2011.37.
  15. Zhou, Albert, and Dieter Fink. 2017. „Knowledge management and intellectual capital: an empirical examination of current practice in Australia.“ Knowledge Management Research & Practice 1 (2): 86–94. doi: 10.1057/palgrave.kmrp.8500009.
  16. Inyang, Benjamin James. 2010. „Strategic Human Resource Management (SHRM): A Paradigm Shift for Achieving Sustained Competitive Advantage in Organization.“ International Bulletin of Business Administration 7: 23–36.
  17. Janoševic, Stevo, and Vladimir Dženopoljac. 2014. „The Relevance of Intellectual Capital in Serbian ICT Industry.“ Ekonomika preduzeća 62 (7-8): 348–366.
  18. Kianto, Aino, Josune Sáenz, and Nekane Aramburu. 2017. „Knowledge-based human resource management practices, intellectual capital and innovation.“ Journal of Business Research 81 (C): 11–20. doi: 10.1016/j.jbusres.2017.07.018.
  19. Lekić, Nemanja, Jelena Vapa-Tankosić, Jasmina Rajaković-Mijailović, and Snežana Lekić. 2019. „An Analysis of Factors Influencing Employee Job Satisfaction in a Public Sector.“ E and M Ekonomie a Management XXII (3): 83–99. doi: 10.15240/tul/001/2019-3-006.
  20.  Lekić, Nemanja, Jelena Vapa-Tankosić, Jasmina Rajaković-Mijailović, Snežana Lekić, i Jelena Mijailović. 2020. „Analiza strukturnog kapitala kao komponente intelektualnog kapitala u IKT preduzećima.“ Oditor 6 (3): 35–54. doi: 10.5937/Oditor2003033L.
  21. Lekić, Snežana, Jelena Vapa-Tankosić, Slavica Mandić, Jasmina Rajaković Mijailović, Nemanja Lekić, and Jelena Mijailović. 2020. „Analysis of the Quality of the Employee–Bank Relationship in Urban and Rural Areas.“ Sustainability 12 (13): 5448. doi: 10.3390/su12135448.
  22. Martínez García de Leaniz, Patricia, and Ignacio Rodríguez del Bosque. 2013. „Intellectual capital and relational capital: The role of sustainability in developing corporate reputation.“ Intangible Capital 9 (1): 262–280. doi:10.396/ic.378.
  23. Moslehi, Adel, Ali Mohaghar, Kambiz Badie, and Caro Lucas. 2006. „Introduction a Toolbox for IC Measurement in the Iran Insurance Industry.“ The Electronic Journal of Management 4 (2): 169–180.
  24. McElroy, Mark. 2002. „Social Inovation Capital.“ Journal of Intellectual Capital 3 (1): 30–39. doi: 10.1108/14691930210412827.
  25. Namasivayam, Karthik, and Basak Denizci. 2006. „Human Capital in Service Organizations: Identifying Value Drivers.“ Journal of Intellectual Capital 7 (3): 381–393. doi: 10.1108/1469130610681465.
  26. Norton, Renae, and Ronald Fox. 1997. The Change Equation: Capitalizing o Diversity for Effective Organizational Change. Washington, DC: American Psychological Association.
  27. Piansoongnern, Opas, Pacapol Jacrapan Anurit, and Chanchai Bunchapattanasakda. 2008. „Managing talented employees: A study of leading corporations in Europe.“ European Journal of Social Sciences 6 (1): 70–90.
  28. Ross, Gӧran, and Johan Ross. 1997. „Measuring your Company’s Intellectual Performance.“ Long Range Planning 30 (3): 413–426.
  29. Stewart, Thomas. 1998. Intellectual Capital: The New Wealth of Organizations. London: Nicolas Brealey Publishing.
  30. Subramaniam, Mohan, and Marck Youndt. 2005. „The influence of intellectual capital on the types of innovative capabilities.“ Academy of Management Journal 48 (3): 450–463. doi: 10.5465/amj.2005.17407911.
  31. Sundarsanam, Sudi, Ghulam Sorwar, and Bernard Marr. 2006. „Real Options and the Impact of Intellectual Capital on Corporate Value.“ Journal of Intellectual Capital 7 (3): 291–308. doi: 10.1108/1469193061068141.
  32. Sharabati, Abdel-Aziz Ahmad, Shawqi Naji Jawad, and Nick Bontis. 2010. „Intellectual capital and business performance in the pharmaceutical sector of Jordan.“ Management Decision 48 (1): 105–131. doi: 10.1108/00251741011014481.
  33. Thomas, David, and Robin Ely. 1996. „Making Differences Matter: A New Paradigm for Managing Diversity.“ Harvard Business Review 74 (5): 79–90.
  34. Urlich, Dave. 1998. „Intellectual Capital = Competence ´ Commitment.“ Sloan Management Review 39 (4): 15–27.
  35. Ulrich, Dave, and Wayne Brockbank. The HR Value Proposition. Boston MA: Harvard Business School Press.
  36. Frank, Frederick, and Craig Taylor. 2004. „Talent Management: Trends that Will Shape the Future.“ Human Resource Planning 27 (1): 33–41.
  37. Hormiga, Esther, Rosa Batista Canino, and Agustín Sánchez-Medina. 2011. „The role of intellectual capital in the success of new ventures.“ International Entrepreneurship and Management Journal 7 (1): 71-92. doi:10.1007/s11365-010-0139-y.
  38. Cabrita, Maria do Rosário, and Nick Bontis. 2008. „Intellectual Capital and Business Performance in the Portuguese Banking Industry.“ International Journal of Technology Management 43 (1-3): 212–237. doi: 10.1504/IJTM.2008.019416.
  39. Campion, Michela, Alexis Fink, Brian Ruggeberg, Linda Carr, Geneva Philips, and Ronal Odman. 2011. „Doing Competencies Models: Best Practices in Competency modeling.“ Personnel Psychology 64 (1): 225–262. doi: 10.1111/j.1744-6570.2010.01207.x.
  40. Youndt, Mark, and Scott Snell. 2004. „Human Resources Configurations, Intellectual Capital and Organizational Performance.“ Journal of Management Issues 16 (3): 337–360.