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Purpose The purpose of this paper is to draw attention to value‐creating processes and their impacts on human capital valuation in high‐contact service industries. Design/methodology/approach The main argument in this paper is developed from existing theoretical and empirical research in the fields of intellectual capital, organizational behavior, marketing, and economics. This paper is conceptual and the approach adopted is analytical. Extant research and concepts have been used to develop a human capital valuation model in high‐contact service industries and to discuss both research and managerial implications. Findings Provides conceptual description of a value matrix that can be employed to identify more accurately value drivers of human capital in various industries. Research limitations/implications The article provides a novel conceptualization of value drivers in industry. A limitation of the paper is that it is conceptual. Practical implications This paper provides a useful tool to identify human capital value drivers in various industries. The value matrix can help group industries based on these value characteristics making comparisons across and within industries more readily available. Originality/value The article proposes a novel way to analyze value addition and transfer in industries. It moves extant research further by outlining a mechanism to identify relevant drivers of human capital with increased precision.
Namasivayam et al. (Sat,) studied this question.