Relationship between HRM and Soft Capitalism - Essay Example

June 9, Relationship between HRM and Soft_Capitalism 0 Introduction_ The soft _capitalism concept entails the importance of globalization efforts. Globalization efforts include selling products and services that significantly fill the different needs of the customers. The concept includes work-related flexibility, empathy, creativity, as well as knowledge (Krauss, 2009). Flexibility entails using different methods to accomplish the same task. Empathy includes prioritizing the company’s goals and objectives over the employees’ personal goals and objectives. One media critic shows the human_resource management_department can uses the soft_capital funds to effectively enhance the capacity, skills, and aptitudes of the line_and staff_employees. With the funds, the human_resource department can easily pay implement on_the job_trainings for the newly hired employees. The same department can use the funds to upgrade the skills of the currently employed employees. The same department uses soft_capitalism funds to pay for the enhancement of the organization employees’ flexibility. Flexibility entails using diverse ways to accomplish different tasks or responsibilities. The department is responsible for the empathy training of the employees. The department uses the on soft_capital funds to maximize the creativity, empathy, & flexibility of employees. 2.0 Soft_Capitalism (Importance) The soft_capitalism business concept enhances the achievement of organizational goals and objectives. Soft_capital entails the allocation of funds for the payment of the employees’ salaries, wages, commissions and other related expenses. The concept focuses on the maximization of the creativity, culture, and knowledge of the employees within organization. The maximization increases the organisation’s competitiveness within each market segment (Sayer, 2007). Further, soft_capitalism includes four major factors. One factor is shared values. Each employee of a team or department must share the same values. For example, the production department must share the same quality value. Each employee must strive to deliver the best quality product or service output. Combined, the employees’ total quality production output overshoots the organisation’s prescribed quality production output benchmark (Sayer, 2007). Further, another factor is style. The management style must fit the temperament of the majority of the employees. Some employees perform better under a carrot management approach. The approach entails offering rewards, promotions, citations, and other fringe benefits to top performing employees. Other employees excel under a stick management approach. The approach includes penalizing lackluster performing employees. Implementing the wrong management style may trigger employee job dissatisfaction and the resignation of several skilled and top performing employees (Sayer, 2007). Furthermore, a third value is staff. Management prefers to hire and/or retain employees who overshoot their production benchmarks. On the other hand, management may retrench employees who continually fail to meet prescribed production benchmarks. Management needs highly qualified employees. Compared to the greenhorn or neophyte employee, highly qualified employees or experts can better achieve overall organizational goals as well as objectives. The management’s allocation of funds for the development of the employees ensure reaching the prescribed benchmarks (Sayer, 2007). Moreover, the fourth value is skills. Companies prefer skilled employees over neophyte ones. In terms of production outputs, some employees have more skills than others. Compared to the low performing employees, it is normal for an entity to keep the services of the cream_of the_crop (most qualified or expert) employees. In the job learning process, some employees learn the job intricacies faster than other employees. The fast learners easily attain the skills needed to quickly meet prescribed individual work goals and tasks. Management must effectively motivate the employees to develop the required skills needed to accomplish the assigned individual tasks and responsibilities. (Harris & Richard, 2012). Management allocates financial resources (soft capital) in the selection, hiring, training, promotion, and retention of potential top performing employees. Consequently, top performing employees generate very satisfied current and future business customers. Successfully filling the production and service needs of current and future business customers increases the organisation’s current revenues. Increasing revenues precipitates to higher overall organizational net profits. 3.0 Human_Resource Management (Development) The organisation’s human_resource management or HRM department focuses on the management of human resources (Shawn&Rebecca, 2011). The human resources are the line and staff employees. One group of employees may be working the marketing or store departments. Another group of employees may be assigned to the production of factory units. A third group of employees may be reporting to the administration office. The employees may be classified as regular or part time employees. Likewise, the employees may be described as neophyte employee, semi skilled employee, or highly skilled (expert) individual. The same department’s main responsibility is to enhance the employees’ achievement of prescribed organizational goals and objectives (Shawn & Rebecca, 2011). In this regard, the department must give its best to chisel the rough untrained newly hired worker into the perfectly molded top performing employee within the least possible time period. The department must screen each job applicant for possible work-related potentials. The department must motivate the newly hired employees to turn their potential work-related strengths into meeting overall organizational targets. Such potentials will serve as a basis for improving the newly hired employees’ skills. With the developed work-related skills, the trained employees can easily reach prescribed individual work benchmarks. For example, a newly hired employee who is adept in accounting and finance may be assigned in the accounting department or administration office. An extrovert job applicant who had prior 10 years sales experience and prefers meeting strangers and customers can be assigned to do marketing work, as store sales person. For job applicants who can easily adjust to different persons, the department may promote such people-oriented person as supervisor of a group of employees. The department must not assign an introvert job applicant to a sales job as such person prefers to be alone in a room doing paperwork, away from the eyes of the company’s current and future business customers. Clearly, the department must fit the skills, values, rights temperaments, capacities, and capabilities of a job applicant to job that requires such skills, temperaments, values, rights, capacities, and capabilities. (Kolachi & Akan, 2014). The human_resource department must create an environment where the employees are persuaded, encouraged, or challenged to enhance their current work- related skills, talents, and other capabilities. The same department must encourage the employees to give their best to achieving the organisation’s overall goals and objectives. The department must recognize the unique aspirations, preferences, and values of the employees. Consequently, the department must ensure the employees’ unique aspirations, preferences, and value will help accomplish organizational priorities, such as meeting customer’s quality product and service deadlines (Shawn & Rebecca, 2011). The same department must allocate time and funds for the continuing training of the current and future business employees. Most companies require newly hired employees to undergo a short term on_the job_training. Within the training period, the newly hired employees are taught the required skills, competencies, values, concepts, and other information needed to deliver quality products and services on time. After the training period, employees who excel in the training programs are assigned to their actual tasks. For those who fail to meet on_the job_training benchmarks, the HRM may be forced to terminate the training employment of the lackluster performing newly hired employee (Shawn&Rebecca, 2011). Similarly, the same department allocates time and funds for the advanced training of current employees. With technology constantly changing in our global business environment, employees must continue learn the new work processes. The company may replace its old production equipments with better ones. The better equipments are expected to produce more products or services within the same time period. The better equipments are expected to generate better quality finished products or services. The department must do its share in the temporary hiring of the expert who will teach the company employees the best way to use the newly acquired production equipments. Consequently, the current employees will easily gain the required skills, capabilities, and capacities needed to operate the new equipment more effectively (Shawn & Rebecca, 2011). The HRM department must impress on the management officers, especially the employees’ immediate supervisors, that the employees should be motivated, not harassed to accomplish their prescribed tasks. Supervisors must know that harassment may not be beneficial to the company. Harassment may trigger a decline in the harassed workers’ production outputs or production outputs’ quality. Supervisors must ensure the employees’ work dignity and rights are not violated. Possible violations may trigger labor court cases or resignations. The department must impress on the supervisors they should treat each subordinate humanely. Inhumanely treated employees may deliver intentionally low production outputs or quality in retaliation for the inhumane leadership (Feng, 2005). 4.0 Soft Capital funding of Human_Resource Management Activities Management must allocate soft capital to support the human_resource department. The department needs funds to implement its employee hiring, training, promotion, and other employee- related programs without soft capital. Soft capital focuses on funds allocated to employee-related activities. The department needs funds for the matching of the employees’ individual goals to the overall organizational goals. Hiring employees that have the qualifications needed to accomplish the assigned tasks requires funds. Training neophytes with the required job skills requires funds. The continuing work trainings needed to enhance the current work skills of the employees require training funds, soft capital funds (Feng, 2005). Consequently, the department uses the soft capital funds to ensure the employees’ values and goals are in line with the achievement of the organisation’s prescribed goals. For example, the marketing employees’ goal in selling more products is to generate higher sales commissions. Such employee goal typifies the organisation’s goal to increase its overall revenues (James et al, 2008). If the new sales person applicant’s goal is to avoid visiting new sales targets due to shyness, the human_resource department must not hire the new job applicant. Such personal goal will not be in line with the company’s overall goal, meeting as many new target customers as possible in order to generate higher revenues. For example, the department must not hire job applicants whose personality tests indicate they are introverts for the sales job. Introvert persons are best suited for jobs where they are alone. Soft capital funds must be allocated to the human_resource department to ensure employees prioritize and adhere to prescribed company policies. The department conducts regular seminars to remind the employees to obey all company regulations or policies. The department instills in the minds of the employees the benefits of heartfelt adherence to the organisation’s values (Harris & Richard, 2012). Implementing company values includes wearing the company uniform while inside the work place. Wearing the company’s prescribed work uniform is strong evidence that the employees adhere to the company’s prescribed revenue –generating values and policies. The uniform is a part of organizational culture. Further, the human_resource department uses soft capital funds to imbibe in the employees love for the company’s organizational culture. The funds can be use to reward employees who excel in their assigned tasks. The funds can be used to increase the fringe benefits of employees who show dedication and hard work. The funds can be used to create camaraderie among the employees. Parties, vacation trips, and other breaks from the monotony of everyday work will create a strong bond among the employees. The strong bond ensures employees will increase their current work outputs. Furthermore, the effective human_resource management department uses the soft_capital funds to help resolve work related problems within the organization (Gramberg, 2006). The department can act as mediator between two departments. For example, the sales department insists that the production department increase its production outputs. With the increased production outputs, the sales department personnel can sell more products, increasing overall organizational revenue. However, the production department prioritises production output quality over production quantities. Consequently, the production department is not burdened by sales quotas or sales benchmarks. As expected, the production department prefers lesser production of high quality products over more production of lackluster quality products. The human_resource department mediates by encouraging both departments to give way to the wishes or priorities of the other department. An amicable settlement is met where both sales department personnel and production department personnel are happy. 5.0 New_Knowledge (Acquisition) The soft capital can be used to acquire work-related knowledge. The human_resource department can help in this area. If the company purchases new work-related software, the employees are not familiar with the strange new software. Consequently, the employee cannot perform the new software-based job task. The department uses the soft capital to hire an expert on the new software. The expert will train the employees to be experts in the use of the new software. With the new knowledge, the new software will help hasten production report outputs. The employees’ learning the new software will ensure achievement of organisation goals and objectives, including generating the required benchmark revenues (Daft & Lengel, 1986). Moreover, the human_resource department uses the soft_capital funds to improve the delivery of same department’s services (Daft&Lengel, 1986). The funds will help enhance the same department’s delivery of employee work-related programs. The funds will help pay for the hiring for more human_resource personnel. The funds will be used to purchase better employee training seminar equipments. The funds will help fund the training of the human_resource personnel. The funds will improve the quality of the employee counseling services. The funds will be used to improve research on the workplace conflict management will be implemented. Funds will be used to improve the monitoring and prevention of workplace bullying. Moreover, the human_resource department will use the soft_capital funds to enhance the employees’ flexibility (Daft & Lengel, 1986). Flexibility allows the employee to accomplish the assigned tasks using different effective alternatives. For example, the sales person’s car suddenly breaks down along London_Bridge. The sales person is caught between bringing the car to the nearest repair shop or leaving the car and taking the bus. The sales person is required to meet the prospective customers within 30 minutes. Consequently, the sales person decides to lock his car and take the bus. This is the essence of flexibility. In a Scotland bar, the bar tender’s blender malfunctions. The bar tender is in a predicament he cannot blend the customer’s drink because the blender malfunctions. The flexible bar tender decides to use a spoon to blend the customer’s dry martini cocktail drink. Compared to non_flexible employees, flexible employees can think of more ways to accomplish an assigned task or responsibility. 6.0 The relationship between HRM system and creativity Further, the human_resource department will use the soft_capital funds to enhance the employees’ creativity (Tsai& Cox, 2012). Creativity may include innovation. The department can hire new employees based on their creativity capacity. Compared to a person who is not creative, a person who is creative can better find ways to achieve a goal or objective. When a job calls for preparation of an advertising piece, usually the creative employees can easily come up with very attractive advertising material. Creativity entails one’s thinking out_of the_box. In layman’s language, it is classified as thinking outside of the normal way of thinking. Such thinking completely differs from the insanity –tainted concept that a person who does not produce a product the normal way can be classified as mentally challenged. Thinking_out of the box means that the person generates an idea or product that is useful to the average person. Such new product is not the result of imitating or copying the works of a famous artist or another person. Doing so may result to copyright infringement on the brainchild or invention of another person. Furthermore, several examples will indicate the importance of hiring a creative person for the job. Some painters became popular because of their art masterpieces. Such painters were creative (Tsai& Cox, 2012). The Mona_Lisa painting is another creative work of art. However, the average painter’s paintings are sold as mundane low-priced art pieces. The low prices of paintings indicate the average person feels that such normally created paintings can easily be replicated by other similarly mundane painters. Consequently, a creative sales person can create advertising materials that will entice current and future business customers to patronise the organisation’s products and services. Moreover, a creative person’s work is one that is uniquely different from the normal (mundane) ways of doing things. For example, a statue made from different scrap materials can be defined as creative. Normally, scrap materials are classified as trash material. Such scrap materials are normally thrown into the nearest garbage dump. However, one person is able to convert the worthless trash objects into a work of art. The creator of the transformers movie is creative. The creativity lies in the possibility of cars and other vehicles converting into to talking robots. Normally, cars and trucks cannot convert into talking living robots. In terms of workplace creativity, the production employee can be trained to create very attractive packages. The attractive packages will persuade the current and future business customers to purchase the company’s products and services (Shipton et al, 2005). Further, the human_resource department will use the soft_capital funds to enhance the employees’ empathy to the company’s priorities. Empathy entails thinking of complying with the company’s policies more than other non-company itineraries. For example, the company requires the production employees to work overtime. The overtime is needed in order to produce more products. The sales department needs the products to meet prescribed monthly sales benchmarks. When one employee’s wife calls the employee to remind him he must go home before 6 pm to immediately attend the 7 year old son’s 6 pm birthday party, the employee refuses to comply with his wife’s instructions. The employee prioritises the company’s welfare over his personal or family welfare. (Naranjo-Valencia et al, 2011). 7.0 Conclusion Summarizing, soft_capitalism includes funding the labor-related activities. Funds should be allocated for the salaries, wages, and other fringe benefits for the company’s line_and staff employees. Soft capitalism should include the human resource department’s enhancing the creativity of the current and future business employees. Similarly, the same department is tasked with maximizing the soft capital funds for the development of the line_and staff_employees’ empathy, creativity, as well as flexibility of the employees. Human_resource management entails the using soft_capital funds to continually train the employees to easily achieve current and future specific benchmarks. The fund amounts are used to improve the employees’ current work capabilities. The fund amounts are used to create responsive empathy among the organisation’s line and staff employees. Sales personnel can better fill the needs of the current and future business customers. Evidently, the human_resource department must use soft_capital funds to train the production employees to deliver higher quality products and services at a much lower trader by enhancing their empathy, flexibility, and creativity capacities. 8.0 References: Read More