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href=\"https:\/\/xtsumugu.com\/blog\/human-capital-management\/\">\u4eba\u7684\u8cc7\u672c\u7d4c\u55b6\u3068\u306f\uff1f\u6ce8\u76ee\u3055\u308c\u308b\u80cc\u666f\u30fb\u30e1\u30ea\u30c3\u30c8\u30fb\u4f01\u696d\u306e\u53d6\u308a\u7d44\u307f\u4e8b\u4f8b\u3092\u89e3\u8aac<\/a><\/p>\n<h3>\u8cc7\u672c\u30b3\u30b9\u30c8\u3068\u306f\uff1fWACC\u3068ROIC\u306e\u95a2\u4fc2<\/h3>\n<p>\u4eba\u7684\u8cc7\u672c\u6295\u8cc7\u3068\u4f01\u696d\u4fa1\u5024\u306e\u95a2\u4fc2\u3092\u8003\u3048\u308b\u3046\u3048\u3067\u3001\u62bc\u3055\u3048\u3066\u304a\u304d\u305f\u3044\u306e\u304c\u300c\u8cc7\u672c\u30b3\u30b9\u30c8\u300d\u3068\u300cROIC\u300d\u3067\u3059\u3002<\/p>\n<p>\u4f01\u696d\u306f\u3001\u682a\u4e3b\u3084\u91d1\u878d\u6a5f\u95a2\u306a\u3069\u304b\u3089\u8abf\u9054\u3057\u305f\u8cc7\u91d1\u3092\u4f7f\u3063\u3066\u4e8b\u696d\u3092\u884c\u3044\u307e\u3059\u3002\u5f53\u7136\u306a\u304c\u3089\u3001\u8abf\u9054\u3057\u305f\u8cc7\u91d1\u306b\u306f\u4e00\u5b9a\u306e\u30b3\u30b9\u30c8\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u4e00\u65b9\u3001\u305d\u306e\u8cc7\u672c\u3092\u4e8b\u696d\u306b\u6295\u5165\u3057\u3066\u3001\u3069\u308c\u3060\u3051\u52b9\u7387\u3088\u304f\u5229\u76ca\u3092\u751f\u307f\u51fa\u3057\u305f\u304b\u3092\u898b\u308b\u4ee3\u8868\u7684\u306a\u6307\u6a19\u304cROIC\u3067\u3059\u3002<\/p>\n<p><mark><strong>\u7c21\u5358\u306b\u3044\u3048\u3070\u300c\u8cc7\u91d1\u3092\u8abf\u9054\u3059\u308b\u305f\u3081\u306b\u5fc5\u8981\u306a\u30b3\u30b9\u30c8\u300d\u3088\u308a\u3082\u300c\u305d\u306e\u8cc7\u91d1\u3092\u4f7f\u3063\u3066\u751f\u307f\u51fa\u3059\u53ce\u76ca\u6027\u300d\u304c\u9ad8\u3051\u308c\u3070\u3001\u4f01\u696d\u4fa1\u5024\u3092\u751f\u307f\u51fa\u3057\u3066\u3044\u308b\u3068\u8003\u3048\u3089\u308c\u307e\u3059\u3002<\/strong><\/mark><\/p>\n<h4>ROIC\uff08\u6295\u5165\u8cc7\u672c\u5229\u76ca\u7387\uff09\u3068\u306f<\/h4>\n<p>ROIC\uff08Return on Invested Capital\uff1a\u6295\u5165\u8cc7\u672c\u5229\u76ca\u7387\uff09\u306f\u3001\u4f01\u696d\u304c\u4e8b\u696d\u306b\u6295\u5165\u3057\u305f\u8cc7\u672c\u3092\u4f7f\u3063\u3066\u3001\u3069\u308c\u3060\u3051\u52b9\u7387\u3088\u304f\u5229\u76ca\u3092\u751f\u307f\u51fa\u3057\u3066\u3044\u308b\u304b\u3092\u898b\u308b\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p>\u4e00\u822c\u7684\u306b\u306f\u3001\u6b21\u306e\u8003\u3048\u65b9\u3067\u7b97\u51fa\u3057\u307e\u3059\u3002<\/p>\n<p><strong>ROIC \uff1d \u7a0e\u5f15\u5f8c\u55b6\u696d\u5229\u76ca\uff08NOPAT\uff09\u00f7 \u6295\u4e0b\u8cc7\u672c<\/strong><\/p>\n<p>ROIC\u304c\u9ad8\u3051\u308c\u3070\u3001\u9650\u3089\u308c\u305f\u8cc7\u672c\u304b\u3089\u3088\u308a\u591a\u304f\u306e\u5229\u76ca\u3092\u751f\u307f\u51fa\u3057\u3066\u3044\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u4eba\u7684\u8cc7\u672c\u6295\u8cc7\u3082ROIC\u3068\u7121\u95a2\u4fc2\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u305f\u3068\u3048\u3070\u3001\u793e\u54e1\u306e\u30b9\u30ad\u30eb\u5411\u4e0a\u306b\u3088\u3063\u3066\u4e00\u4eba\u3042\u305f\u308a\u306e\u751f\u7523\u6027\u304c\u4e0a\u304c\u3063\u305f\u308a\u3001\u9069\u5207\u306a\u914d\u7f6e\u306b\u3088\u3063\u3066\u4e8b\u696d\u306e\u53ce\u76ca\u6027\u304c\u6539\u5584\u3057\u305f\u308a\u3059\u308c\u3070\u3001\u7d50\u679c\u3068\u3057\u3066ROIC\u306e\u5411\u4e0a\u306b\u3064\u306a\u304c\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u305f\u3060\u3057\u3001\u7814\u4fee\u3092\u5897\u3084\u305b\u3070ROIC\u304c\u4e0a\u304c\u308b\u3068\u3044\u3046\u5358\u7d14\u306a\u95a2\u4fc2\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u4eba\u7684\u8cc7\u672c\u3078\u306e\u6295\u8cc7\u3092\u3001\u58f2\u4e0a\u3001\u751f\u7523\u6027\u3001\u5229\u76ca\u7387\u3001\u96e2\u8077\u7387\u306a\u3069\u306e\u5909\u5316\u3068\u3042\u308f\u305b\u3066\u78ba\u8a8d\u3059\u308b\u3053\u3068\u304c\u91cd\u8981\u3067\u3059\u3002<\/p>\n<h4>WACC\uff08\u52a0\u91cd\u5e73\u5747\u8cc7\u672c\u30b3\u30b9\u30c8\uff09\u3068\u306f<\/h4>\n<p>WACC\uff08Weighted Average Cost of Capital\uff1a\u52a0\u91cd\u5e73\u5747\u8cc7\u672c\u30b3\u30b9\u30c8\uff09\u306f\u3001\u4f01\u696d\u304c\u682a\u4e3b\u3084\u50b5\u6a29\u8005\u304b\u3089\u8cc7\u91d1\u3092\u8abf\u9054\u3059\u308b\u305f\u3081\u306b\u5fc5\u8981\u3068\u306a\u308b\u30b3\u30b9\u30c8\u3092\u3001\u8cc7\u672c\u69cb\u6210\u306b\u5fdc\u3058\u3066\u52a0\u91cd\u5e73\u5747\u3057\u305f\u3082\u306e\u3067\u3059\u3002<\/p>\n<p>\u4f01\u696d\u5074\u304b\u3089\u898b\u308c\u3070\u3001\u4e8b\u696d\u3084\u6295\u8cc7\u306b\u3088\u3063\u3066\u6700\u4f4e\u9650\u8d85\u3048\u308b\u3079\u304d\u53ce\u76ca\u7387\u306e\u76ee\u5b89\u306e\u4e00\u3064\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u305f\u3068\u3048\u3070\u3001WACC\u304c5\uff05\u306a\u306e\u306b\u3001\u6295\u8cc7\u3057\u305f\u4e8b\u696d\u304b\u30893\uff05\u7a0b\u5ea6\u306e\u53ce\u76ca\u3057\u304b\u751f\u307f\u51fa\u305b\u306a\u3051\u308c\u3070\u3001\u8cc7\u672c\u30b3\u30b9\u30c8\u306b\u898b\u5408\u3063\u305f\u30ea\u30bf\u30fc\u30f3\u3092\u5f97\u3089\u308c\u3066\u3044\u306a\u3044\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u53cd\u5bfe\u306b\u3001ROIC\u304cWACC\u3092\u7d99\u7d9a\u7684\u306b\u4e0a\u56de\u308c\u3070\u3001\u6295\u5165\u3057\u305f\u8cc7\u672c\u304b\u3089\u8cc7\u672c\u30b3\u30b9\u30c8\u3092\u8d85\u3048\u308b\u53ce\u76ca\u3092\u751f\u307f\u51fa\u3057\u3066\u3044\u308b\u3068\u8003\u3048\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n<h4>ROIC\uff1eWACC\u304c\u4f01\u696d\u4fa1\u5024\u5411\u4e0a\u306b\u3064\u306a\u304c\u308b\u7406\u7531<\/h4>\n<p>ROIC\u3068WACC\u306e\u95a2\u4fc2\u306f\u3001\u4f01\u696d\u304c\u8cc7\u672c\u3092\u4f7f\u3063\u3066\u4fa1\u5024\u3092\u751f\u307f\u51fa\u305b\u3066\u3044\u308b\u304b\u3092\u8003\u3048\u308b\u3046\u3048\u3067\u91cd\u8981\u3067\u3059\u3002<\/p>\n<p><mark><strong>ROIC\u304cWACC\u3092\u4e0a\u56de\u308b\u72b6\u614b\u3092\u7d99\u7d9a\u3067\u304d\u308c\u3070\u3001\u4f01\u696d\u306f\u8cc7\u672c\u30b3\u30b9\u30c8\u3092\u4e0a\u56de\u308b\u30ea\u30bf\u30fc\u30f3\u3092\u751f\u307f\u51fa\u3057\u3001\u4f01\u696d\u4fa1\u5024\u306e\u5411\u4e0a\u306b\u3064\u306a\u3052\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/strong><\/mark><\/p>\n<p>\u3053\u3053\u3067\u4eba\u7684\u8cc7\u672c\u6295\u8cc7\u304c\u95a2\u4fc2\u3057\u3066\u304d\u307e\u3059\u3002<\/p>\n<p>\u305f\u3068\u3048\u3070\u3001\u793e\u54e1\u6559\u80b2\u306b\u3088\u3063\u3066\u751f\u7523\u6027\u3092\u9ad8\u3081\u308b\u3001\u9069\u5207\u306a\u4eba\u6750\u914d\u7f6e\u306b\u3088\u3063\u3066\u5229\u76ca\u7387\u3092\u6539\u5584\u3059\u308b\u3001\u30a8\u30f3\u30b2\u30fc\u30b8\u30e1\u30f3\u30c8\u5411\u4e0a\u306b\u3088\u3063\u3066\u96e2\u8077\u3084\u63a1\u7528\u306e\u30b3\u30b9\u30c8\u3092\u6291\u3048\u308b\u3068\u3044\u3063\u305f\u53d6\u308a\u7d44\u307f\u306f\u3001\u4e8b\u696d\u306e\u53ce\u76ca\u6027\u3084\u8cc7\u672c\u52b9\u7387\u306b\u5f71\u97ff\u3057\u307e\u3059\u3002<\/p>\n<p>\u3064\u307e\u308a\u3001\u4eba\u7684\u8cc7\u672c\u6295\u8cc7\u306f\u300c\u7814\u4fee\u8cbb\u3092\u3044\u304f\u3089\u4f7f\u3063\u305f\u304b\u300d\u3060\u3051\u3067\u8a55\u4fa1\u3059\u308b\u3082\u306e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n<p><mark><strong>\u4eba\u6750\u3078\u306e\u6295\u8cc7\u304c\u3001\u751f\u7523\u6027\u3084\u5229\u76ca\u7387\u3001\u96e2\u8077\u7387\u306a\u3069\u3092\u3069\u3046\u5909\u5316\u3055\u305b\u3001\u6700\u7d42\u7684\u306b\u4f01\u696d\u4fa1\u5024\u3078\u3069\u3046\u3064\u306a\u304c\u3063\u305f\u306e\u304b\u307e\u3067\u8003\u3048\u308b\u3053\u3068\u304c\u91cd\u8981\u3067\u3059\u3002<\/strong><\/mark><\/p>\n<p>\u95a2\u9023\u8a18\u4e8b\uff1a<a href=\"https:\/\/xtsumugu.com\/blog\/human-capital-management-examples\/\">\u4eba\u7684\u8cc7\u672c\u7d4c\u55b6\u306e\u6210\u529f\u4e8b\u4f8b\uff16\u9078\uff5c\u4f01\u696d\u306e\u53d6\u308a\u7d44\u307f\u304b\u3089\u5b66\u3076\u5177\u4f53\u7684\u306a\u65bd\u7b56\u3068\u9032\u3081\u65b9<\/a><\/p>\n<h2>\u4eba\u7684\u8cc7\u672c\u6295\u8cc7\u306e\u8cbb\u7528\u5bfe\u52b9\u679c\uff1aROI\u3068\u3044\u3046\u8996\u70b9\u304b\u3089\u898b\u308b<\/h2>\n<img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-102093\" src=\"https:\/\/xtsumugu.com\/new\/blog\/wp-content\/uploads\/2025\/08\/human-capital-investment-roi-1024x683.jpg\" alt=\"\u4eba\u7684\u8cc7\u672c\u6295\u8cc7\u306e\u8cbb\u7528\u5bfe\u52b9\u679c\uff08ROI\uff09\u3068\u751f\u7523\u6027\u30fb\u30a8\u30f3\u30b2\u30fc\u30b8\u30e1\u30f3\u30c8\u30fb\u96e2\u8077\u7387\u30fb\u58f2\u4e0a\u3078\u306e\u5f71\u97ff\u3092\u793a\u3057\u305f\u56f3\" width=\"728\" height=\"486\" srcset=\"https:\/\/xtsumugu.com\/new\/blog\/wp-content\/uploads\/2025\/08\/human-capital-investment-roi-1024x683.jpg 1024w, https:\/\/xtsumugu.com\/new\/blog\/wp-content\/uploads\/2025\/08\/human-capital-investment-roi-300x200.jpg 300w, https:\/\/xtsumugu.com\/new\/blog\/wp-content\/uploads\/2025\/08\/human-capital-investment-roi-768x512.jpg 768w, https:\/\/xtsumugu.com\/new\/blog\/wp-content\/uploads\/2025\/08\/human-capital-investment-roi-485x323.jpg 485w, https:\/\/xtsumugu.com\/new\/blog\/wp-content\/uploads\/2025\/08\/human-capital-investment-roi.jpg 1536w\" sizes=\"auto, (max-width: 728px) 100vw, 728px\" 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and Key Results\uff09\u306e\u6d3b\u7528\u3067\u3059\u3002\u4f1a\u793e\u3084\u7d44\u7e54\u306e\u65b9\u5411\u6027\u3068\u500b\u4eba\u306e\u76ee\u6a19\u3092\u3064\u306a\u3052\u306a\u304c\u3089\u3001\u793e\u54e1\u304c\u81ea\u3089\u8003\u3048\u3066\u6311\u6226\u3067\u304d\u308b\u74b0\u5883\u3065\u304f\u308a\u3092\u9032\u3081\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u307e\u305f\u3001\u4eba\u6750\u306e\u914d\u7f6e\u3084\u80b2\u6210\u306b\u3064\u3044\u3066\u7d4c\u55b6\u30ec\u30d9\u30eb\u3067\u8b70\u8ad6\u3059\u308b\u4ed5\u7d44\u307f\u3092\u8a2d\u3051\u308b\u306a\u3069\u3001\u4eba\u6750\u6226\u7565\u3092\u7d4c\u55b6\u8ab2\u984c\u3068\u3057\u3066\u6271\u3063\u3066\u3044\u308b\u70b9\u3082\u7279\u5fb4\u3067\u3059\u3002<\/p>\n<p><mark><strong>\u7814\u4fee\u3060\u3051\u306b\u983c\u308b\u306e\u3067\u306f\u306a\u304f\u3001\u76ee\u6a19\u8a2d\u5b9a\u3084\u914d\u7f6e\u3001\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306a\u3069\u3001\u793e\u54e1\u304c\u6210\u9577\u3057\u3084\u3059\u3044\u4ed5\u7d44\u307f\u305d\u306e\u3082\u306e\u3092\u6574\u3048\u3066\u3044\u308b\u70b9\u304c\u53c2\u8003\u306b\u306a\u308a\u307e\u3059\u3002<\/strong><\/mark><\/p>\n<h3>\u4f0a\u85e4\u5fe0\u5546\u4e8b\u682a\u5f0f\u4f1a\u793e\uff5c\u50cd\u304d\u65b9\u6539\u9769\u3092\u751f\u7523\u6027\u5411\u4e0a\u306b\u3064\u306a\u3052\u308b<\/h3>\n<p>\u4f0a\u85e4\u5fe0\u5546\u4e8b\u682a\u5f0f\u4f1a\u793e\u306f\u3001\u50cd\u304d\u65b9\u6539\u9769\u3068\u751f\u7523\u6027\u5411\u4e0a\u3092\u7d44\u307f\u5408\u308f\u305b\u305f\u53d6\u308a\u7d44\u307f\u3067\u77e5\u3089\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u4ee3\u8868\u7684\u306a\u306e\u304c\u671d\u578b\u52e4\u52d9\u5236\u5ea6\u3067\u3059\u3002\u9577\u6642\u9593\u52b4\u50cd\u3092\u524d\u63d0\u3068\u3057\u305f\u50cd\u304d\u65b9\u3092\u898b\u76f4\u3057\u3001\u9650\u3089\u308c\u305f\u6642\u9593\u306e\u4e2d\u3067\u6210\u679c\u3092\u4e0a\u3052\u308b\u50cd\u304d\u65b9\u3078\u306e\u8ee2\u63db\u3092\u9032\u3081\u3066\u304d\u307e\u3057\u305f\u3002<\/p>\n<p>\u4eba\u7684\u8cc7\u672c\u7d4c\u55b6\u3067\u306f\u3001\u793e\u54e1\u306b\u7814\u4fee\u3092\u63d0\u4f9b\u3059\u308b\u3053\u3068\u3060\u3051\u304c\u300c\u6295\u8cc7\u300d\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u793e\u54e1\u304c\u80fd\u529b\u3092\u767a\u63ee\u3057\u3084\u3059\u3044\u50cd\u304d\u65b9\u3084\u8077\u5834\u74b0\u5883\u3092\u6574\u3048\u308b\u3053\u3068\u3082\u91cd\u8981\u306a\u4eba\u7684\u8cc7\u672c\u6295\u8cc7\u3067\u3059\u3002<\/p>\n<p><mark><strong>\u4eba\u6750\u3078\u306e\u6295\u8cc7\u3092\u751f\u7523\u6027\u306a\u3069\u306e\u7d4c\u55b6\u6307\u6a19\u3068\u7d50\u3073\u3064\u3051\u3066\u8003\u3048\u308b\u3053\u3068\u3067\u3001\u4eba\u7684\u8cc7\u672c\u65bd\u7b56\u3092\u7d4c\u55b6\u8ab2\u984c\u3068\u3057\u3066\u6349\u3048\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/strong><\/mark><\/p>\n<h3>\u4e38\u4e95\u30b0\u30eb\u30fc\u30d7\uff5c\u793e\u54e1\u306e\u81ea\u767a\u6027\u3092\u751f\u304b\u3059\u7d44\u7e54\u3065\u304f\u308a<\/h3>\n<p>\u4e38\u4e95\u30b0\u30eb\u30fc\u30d7\u3067\u306f\u3001\u793e\u54e1\u304c\u81ea\u3089\u624b\u3092\u6319\u3052\u3066\u53c2\u52a0\u3059\u308b\u300c\u624b\u6319\u3052\u300d\u306e\u4ed5\u7d44\u307f\u3092\u3055\u307e\u3056\u307e\u306a\u5834\u9762\u3067\u53d6\u308a\u5165\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u4f1a\u793e\u304b\u3089\u4e00\u65b9\u7684\u306b\u30ad\u30e3\u30ea\u30a2\u3084\u4ed5\u4e8b\u3092\u4e0e\u3048\u308b\u306e\u3067\u306f\u306a\u304f\u3001\u793e\u54e1\u81ea\u8eab\u304c\u610f\u601d\u3092\u6301\u3063\u3066\u6311\u6226\u3059\u308b\u6a5f\u4f1a\u3092\u5897\u3084\u3059\u3053\u3068\u3067\u3001\u81ea\u5f8b\u7684\u306a\u30ad\u30e3\u30ea\u30a2\u5f62\u6210\u3084\u7d44\u7e54\u3078\u306e\u53c2\u52a0\u3092\u4fc3\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u4eba\u7684\u8cc7\u672c\u3078\u306e\u6295\u8cc7\u3068\u3044\u3046\u3068\u3001\u7814\u4fee\u8cbb\u3084\u63a1\u7528\u8cbb\u306a\u3069\u91d1\u984d\u3067\u8868\u3057\u3084\u3059\u3044\u3082\u306e\u306b\u76ee\u304c\u5411\u304d\u304c\u3061\u3067\u3059\u3002\u3057\u304b\u3057\u3001\u793e\u54e1\u304c\u6311\u6226\u3067\u304d\u308b\u5236\u5ea6\u3084\u7d44\u7e54\u98a8\u571f\u3092\u3064\u304f\u308b\u3053\u3068\u3082\u3001\u4eba\u6750\u306e\u4fa1\u5024\u3092\u9ad8\u3081\u308b\u53d6\u308a\u7d44\u307f\u306e\u4e00\u3064\u3067\u3059\u3002<\/p>\n<p><mark><strong>\u4eba\u7684\u8cc7\u672c\u7d4c\u55b6\u3067\u306f\u300c\u3044\u304f\u3089\u6295\u8cc7\u3059\u308b\u304b\u300d\u3060\u3051\u3067\u306a\u304f\u300c\u793e\u54e1\u304c\u6301\u3063\u3066\u3044\u308b\u529b\u3092\u767a\u63ee\u3067\u304d\u308b\u7d44\u7e54\u306b\u306a\u3063\u3066\u3044\u308b\u304b\u300d\u3068\u3044\u3046\u8996\u70b9\u3082\u6b20\u304b\u305b\u307e\u305b\u3093\u3002<\/strong><\/mark><\/p>\n<h3>\u6210\u529f\u4e8b\u4f8b\u3092\u305d\u306e\u307e\u307e\u771f\u4f3c\u3059\u308b\u5fc5\u8981\u306f\u306a\u3044<\/h3>\n<p>\u3053\u3053\u307e\u3067\u7d39\u4ecb\u3057\u305f\u4f01\u696d\u306f\u3001\u305d\u308c\u305e\u308c\u7570\u306a\u308b\u65b9\u6cd5\u3067\u4eba\u7684\u8cc7\u672c\u7d4c\u55b6\u306b\u53d6\u308a\u7d44\u3093\u3067\u3044\u307e\u3059\u300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