The components of career capital for knowledge workers in the global economy

Abstract

The need for this research stemmed from the fact that in today’s new world of work, organisations and markets are demanding new skill sets, innovative approaches to delivery and increasingly higher performance levels. The impacts of globalisation, technology and the demand for knowledge have brought a new era in economies and organisations, resulting in new career realities. The purpose and direction of a knowledge worker’s career is no longer confined to a single employer boundary. Therein lies the opportunity for individuals to understand, manage and leverage this dynamic context for career progression and growth through the accumulation and implementation of relevant and valued career capital. This research investigated the components of career capital, the process of formation, differentiating features and their interrelationship for knowledge workers. A conceptual de jure model of career capital (Figure 6) was created from the concepts extracted from the literature review. This model was intentionally utilised as a discussion framework in the qualitative in-depth interview stage conducted with 18 respondents across the knowledge workers, human resource practitioners and recruitment specialist samples. The outcome allowed for the validation and enhancement of the de jure model. The de facto model of career capital (Figure 8) emerged from the research findings and was found to represent an integrated view of the components of career capital that are recognised in the new economy, thereby validating the literature review and contributing new insight. The outcome of this research could facilitate knowledge workers in enhancing their career capital stature in the market, making them more competitive and valued as employees. In addition, the research could provide an insightful platform for management in overseeing the new breed of workers in knowledge-based economy.