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The importance of human resource factore in labout process - Essay Example

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Organisations have learned the hard way the crucial fact that of all the 5 M's considered as the means of production, viz. Men, Money, Materials, Machinery and Minutes, the factor " Men " is unique in the sense that it alone is not subject to the law of diminishing returns…
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The importance of human resource factore in labout process
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Download file to see previous pages Untrained individuals can only be considered just as "units of population" whereas trained and skilled individuals could justifiably be called as human resource. While the former is an asset to an organization, the latter invariably constitute the source of innumerable problems. Now the onus rests on the HR managers not only to select the right kind of candidates for various job openings but also to see that already working candidates also are continuously upgraded in their skills so that their contribution to the organizational growth is a continuous affair and not one which rests on chances.
While there could be very many factors which influence different kinds of employees, still we could always lay our hands on a few principles which have at least widespread, if not universal, application potential. In this analysis we try to identify such valuable HRM principles which have proven their worth in many organizations under many conditions. Such an exercise would sharpen our insight into many valuable HR practices and equip us with the kind of expertise which would help us handle our manpower in the most efficient way so that the mutual benefit of both the employers and the employees are optimized.
Considerable studies and research over the past few decades in the arena of HRM has enriched the subject itself with a variety of powerful principles culled from the past experience of various organizations in different world zones. Of the various HRM theories such as, Staffing Selectivity, Influence of Training on Firm Performance, Information Sharing, General Systems Theory, Role Behaviour Theory, Institutional Theory, Resource Dependence Theory, Human Capital Theory, Transformation Cost Economics, Agency Theory, The Resource Based Theory of the Firm, Compensation and Performance Management Systems, Job Security, Employee Participation Systems, Internal Labour Market Theory and Team-based Production Systems, let us take up for analysis and study some of them which are more relevant and/or powerful in delivering results in the present market scenario.
a) Staffing Selectivity aspect : The success of every organization is measured by the quantum of business it is able to create and the amount of profit that comes out of it. To accomplish this every employee has to contribute his or her mite in no small way. Any weaker link in the corporate chain can easily undermine the strength of the entire organization and the downfall could be fatal. So it is imperative that Staffing Selectivity plays a crucial role in the success or failure of any organization. Hiring, firing and promotion should all be crucially selective. The right kind of employees should only be selected for every job ...Download file to see next pagesRead More
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