QUESTION
Write a short essay that discusses the following statement, using examples and references to support the answer.
*Human Resources* is the most important asset of an organization.
Hint : Human Resources refers to all employees in the organization.
The essay, of not more than 1,000 words, should be typewritten in Times New Roman, font size 12 and double-spaced with page numbers.
SOLUTION
Introduction:
Human resource is an important aspect of an organization and its need has been felt and realized after the advent of globalization where it became very imperative to manage and retain the human resource as the corporate market grows to become highly competitive and integrated. The present day world is a time of stiff competition and business competitive advantage where the human resource comes out to be an asset for the firm. The highly imperative aspect of human resource is its association with the profitability and productivity of the firm. Earlier it was considered that human resource is an indirect means to attain the desired outcomes and it is a liability of the firm but the implementation of strategic human resource practices brought in front the fact that human resource is an asset for any firm as it is directly linked with employer branding and productivity of the firm. [Chandraba and Kafee]
The importance of considering human resource as an asset lies in the fact that it is the association of all resources and its management to the fullest so that effective utilization of all resources could be attained. Secondly the nature of employment and organizational policies and framework determine the longevity of employee’s life in an organization thereby increasing the retention rate of the firm giving competitive advantage to the firm. Thirdly, highly competent employees means highly integrated and productive team or group which will enhance the firm’s production or service delivery as employees make a team and team performance is directly proportional to organizational market efficiency. Fourthly organization can flourish and grow well when the employees are happy and motivated as motivated employees will work not just for high productivity but also for firm’s achievement of long term goals, all these factors proves and makes us realize the importance of treating employees or personnel force as a important asset of the organization in present day corporate world. [Weatherly, 2003]
Making people your most important asset:
It has been seen that rigorous marketing and financial profit drives most of private firms towards considering employees as a centre for cost cutting, this is a common phenomenon and getting a transition from here to there will be very difficult for practical implementation. The transition to be achieved is mentioned with the help of a diagramme below: HR’S strategic architecture-
It can be seen that organization’s strategic focus and competency increases as the HR’s strategic focus and competency increases. We have noticed that HR has not just been considered as a tool for operational measurements but human resource has been included in systematic strategic maintenance. [Becker et al, 2001]
Organizations manage the HR nowadays with utmost precision and direct link with firm’s strategic goal setting. With the help of measuring employee’s performance and linking the performance with system’s growth and development we can achieve competitive growth by linking people, strategy and performance. The human resource is an important tool for implementing organizational goals on team levels and that can be achieved when HR top officials are motivated enough to have fulfilled self actualization needs and are open for consideration in strategic making of the firm. Human resource acts as a major liaison between the raw resources and the organizational goals and vision; this can be achieved when mediation is done with appropriate management techniques and this is where the organization realizes the real worth of human resource as a field of organizational growth and development.
Another aspect of human resource as an asset is the fact that we achieve what we invest, human resource management or strategic human resource management implements planning, organizing, controlling techniques on all resources including the human force and this strategic build up helps us to knowledge based, committed and competent employees who can work for achievement of organizational as well as individual goals. The human resource function should continuously look for ways to align more and more human resource systems and procedure with evolving directions of the organization. The human resource planning forecasts the need for further personnel designations and right people for the desired designations and also manages with creation of pool of candidates for the situation. The demand forecast and supply of labor can be managed with the help of strategic recruitment and planning for the future. Organizing the human resource helps a firm to manage with job responsibilities with ease and comfort as organizing comprises of job rotation, job enrichments, promotions, rewards and recognitions and similar other HR functions. They help a firm to organize the personnel force as per the demand of job and skills of the employees. Through this, employees can be made multi skilled and time management can also be very appropriate. [Boxell, 2003]
Conclusion:
Concluding it can be said that the analysis helped us to understand the need and importance of human resource in an organization. The human resource management is an important asset of the organization and not just the personnel force should be treated as a revenue centre but also the strategic HRM practices are the asset of an organization. The employees or the personnel force is not a liability but an asset to the firm. The employees are competent source of cost management, time management, efficiency management in terms of productivity and resource utilization. The strategic implementation of human resource practices helps to maintain the employee force highly motivated and gain competitive advantage over the competitors. Thus it can be said that human resource is an important asset of an organization and it has direct effect on smooth and efficient management of profitability and high competitive advantage of any firm.
References:
- Peter Chandraba, Robert D.O. Kafee, journal of international business and cultural studies, , viewed on 12th may, 2012, < http://www.aabri.com/manuscripts/09396.pdf>
- Lesie A. Weatherly, 2003, human capital, the elusive asset, viewed on 12th may, 2012, < http://www.ispi.org/pdf/suggestedReading/6_Weatherly_HumanCapital.pdf>
- Brain E. Becker, Dave Ulrich and Mark A. Huselid, 2001, making HR as a strategic asset, viewed on 12th may, 2012, < http://chrs.rutgers.edu/pub_documents/Huselid-Strategy.pdf>
- Peter Boxell, HR strategy and competitive advantage, human resource management journal, vol-13, npo-3, 2003, page no-5-20, viewed on 12th may, 2012, < http://www.blackwellpublishing.com/pdf/boxall.pdf>
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