A New Hybrid AHP-TOPSIS Method for Ranking Human Capital Indicators by Normalized Decision Matrix

Abstract

Human Capital or HC plays a significant role in the field of economic growth. Advancement on human capital and knowledge-based economy are of core importance for developing countries. Active representatives of capital accumulation are the people and utilizing natural resources for contributing to the socio-economic growth of the country. Evaluation of HC helps organizations to concern about their present position taking Human Capital Management into account. The core goal of this work is to measure performance of each organization individually based on criteria and rating the individual depending on the measurements. The technique used in this paper is based on the integration of "AHP" and "TOPSIS" as "AHP-TOPSIS" Hybrid method. The Analytic Hierarchy Process determines criteria's weight and significance of the indicators or alternatives. The final ranking of HC is done by TOPSIS method considering the importance of the indicators. The proposed MCDM approach is effective, compatible and reliable considering the goal of the study.