Psychological, physical, and social capitals: A balanced approach for more effective human capital in today’s organizations and life

Abstract

In this article, we propose a comprehensive and integrated approach for recognizing, managing, developing, and leveraging positive human capital for successful outcomes in a variety of organizational and life domains. We call this conceptual framework the Balanced Positive Human Capital Equation. With the ultimate goal of obtaining “The Good Life,” the first part of our simply called HumCap equation consists of Psychological Capital (i.e., PsyCap). The positive psychological resources which comprise one’s PsyCap have after 20 years of evidence been clearly determined to be Hope, Efficacy, Resilience, and Optimism (i.e. “the HERO within”). The second part of our proposed HumCap equation includes Physical Capital (i.e., PhyCap). Some important dimensions of this PhyCap we suggest should include Mindfulness, Exercise, Nutrition, and Deep Breathing (i.e., “MEND your health”). The final pillar of this balanced approach to HumCap we propose includes Social Capital (SocCap). As established drivers of well-being and performance, we focus on the recognized important SocCap resources of Faith, Relationships/Networks, Organizational Culture, Noncognitive Empathy, and Teams/Communities (i.e., provide “A united FRONT”). We propose that these three positive psychological, physical, and social capital resources are interactive and when combined and, especially in balance, research and practice will support synergistic, desirable results. In constant pursuit of “The Good Life,” it is hoped the conceptual framework proposed in this article will provide a guide for developing stronger and more balanced human capital that is optimally suited to meet life’s worthwhile pursuits and wellness outcomes.