The paper seeks to answer the question: Why is Human Resource Management Important (HRM)? The paper presents HRM and competitive business advantage; objectives of HRM as strategic management goal; HR practices in an organizational setting; diversity management as a strategic HR goal and so on…
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This essay discusses that in the global business environment, it is impossible to have technology, machinery or processes which are not available with a firms competitors. But even in the most technological and fully automated facilities, it’s the skill of employees and their commitment which tends to create the competitive advantage. Every successful company has at least one or more competitive advantage that is factors which enables the company to differentiate its products and services from that of its competitors and in a way increase the market share. For example, Apple creative employees tend to produce innovative products. Southwest Airlines is the low cost leader with effective employment policies which motivated the work force. Competitive advantage is the new perspective catchphrase of HRM and business which is mainly achieved by organisation through its employees. This helps to reinforce the value and importance for human resource planning, compensation, recruitment and selection, diversity management and others types of human resource practices. Companies value the employees as return on investment and not just cost which is to be borne by the employer. The advantage is thus not only derived from formal reshaping and reorganisation but also with respect to training and expertise which is made available to the organisation. The adaptability by the employees allows the organisation to have strategic flexibility along with the commitment of the employees to the business plan of the organisation and their goals are the other benefits of the competitive advantage for an organisation....
mployees are likely to give excellent work which in return adds value to the organisation; with sound employee relation it encourages investors to buy shares and raise funds for the company; the resources of the organisation are used in the most effective way through recruitment of the best people; the organisational culture tends to be more conducive to quality performance; change can be easily implemented and the core competences of the organisation are enhanced as well as strengthen (Simms, 2005, p.8). According to research, it has been indicated that with HRM practises a firm can have a strong impact over competitive advantage. Number of studies has shown the links between HR practises and profits. A study conducted by Chris Ryan has founded that there exists a relation between the HRM practices and shareholders return. It was concluded that nearly about 15% to 30% of the total value is attributed to the HRM practices which included providing employees with an effective training; letting the employees know what is expected from them and discharging the employees who are below average (Kleiman, 2003, p.13). Objectives of Human Resource Management as Strategic Management Goal Human Resource Management is often described as an approach towards traditional personnel management. Thus HRM can be defined as a set of procedures, policies, programs which are designed in order to maximise the organisation and personal goals. It is in fact the procedure which binds the individuals and the organisation together with a main purpose of achieving the desired objectives. The strategic HRM is all about adaptation and integration, thus the objective includes HRM is integrated with the strategic needs and strategy of the firm or organisation The policies of Human resources are
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Globalization has influenced business around the world and it has changed how businesses are managed and operated today (Mittleman, 2000). Organizations have expanded their operations to different countries and as businesses have expanded their operations, the role of human resource management has changed as well.
In the contemporary market characterised with intense competition, most organisations have diverted from conventional perception of human resource as passive resource that can be manipulated to get things done.
Human resource management of an organization deals with a number of management decisions which have a major impact and influence on the people of the organization. The human resource management when dealt with in a strategic manner with strategic plans and well thought out and strategically devised practices, then this is referred to as Strategic Human Resource Management. The main aim of this paper is to compare and contrast the various approaches of strategic human resource management.
This transformation has had major impacts in organizational management. The concept of SHRM has evolved as a bridge between the management of organizational human resource and business strategies. The major impact has been seen through the alignment of the human resources to the performance of the firm to give it a competitive advantage.
Human capital being the biggest driver of the organization mission highly emphasizes the utmost importance of strategic human resource management (Baruch and Peiperl, 2000) Q.1 Explain how planning makes the benefits possible In both organizations whose business agenda if focused on selling of goods or services, human capital is a valuable asset.
Strategic human resource management can be defined as an efficient management process of utilizing human resources to the best extent and it aims at enhancing the organizational efficiency (Fombrun et al., 1984). It is a complex process that is continuous in nature
One element that plays a substantive role in ensuring the success of an organization is the job description, and, therefore, the paper discusses the aspect of job analysis as the cornerstone of human resource
Fordism supported domestic mass production and the allocation of high wages among laborers. It was under fordism concept that mass consumption considerations got integrated with accountabilities on production. The philosophy of fordism has influenced business operation
They can improve the knowledge, skills, and increase retention of quality employees while enhancing the nonperformers ability to suit the firm’s needs (Liker & Michael, 2010). An inquiry made regarding this argument is that a company’s current
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