Preview
Preview

Importance of Human Resource Management Essay examples

:: 6 Works Cited
Length: 943 words (2.7 double-spaced pages)
Rating: Yellow      
Open Document
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

An organization’s resources can be classified into three categories: physical resources, human capital resources and organizational capital resources. Physical capital refers to non-human assets such as, machinery, infrastructure and other raw materials that are used within an organization’s production process. Human capital resources include the skill sets, knowledge, work experience and insights of each individual employed in the business. Organizational capital resources consist of an organization’s formal reporting structure, the planning, controlling and coordinating of systems, and interpersonal relationships formed within the work community (Barney, 1991, p.102).

As civilization progresses rapidly into the age of globalization, technology and competition, an inevitable shift in organizational paradigm is to be expected. In a fast-paced business environment, the fierce competition between businesses challenges products’ life cycles. As competition increases, a product’s life cycle shortens, and is faced with the threat of premature elimination. Today, much emphasis is placed on overall cost efficiency to maintain business sustainability and competitive edge. To achieve cost efficiency, a business must look at its resources and determine the correct strategy to deployment, which will help the business attain its business goals. One of the strategic moves to keeping a business cost effective is to implement a strategic approach to human resource management (Sondhi and Nirmal, 2013, p.4).

While it is still important for businesses to develop external competitiveness through introduction of new services, products or innovations, the business must prioritize its development of internal human assets as it is through the employe...


... middle of paper ...


...pact of Investments in Human Resources Activities on the Effectiveness of Investment in Human Capital: The Case of Commercial Banks in Jordan. International Journal of Business and Social Science, 3 (18), p. 154.


Barney, J. 1991. Firm Resources and Competitive Advantage. Journal of Management, 17 (1), p. 102.


Omerzel, D. and Gulev, R. 2011. Knowledge resources and competitive advantage. Managing Global Transitions, 9 (4), pp. 336-357.


Simon, S. 2013. The Essentials of Employee Engagement in Organizations. Journal of Contemporary Research in Management, 6 (1), pp. 64-65.


Sondhi, V. and Nirmal, P. 2013. Strategic Human Resource Management: A Reality Check. Review of Management, 3 p. 4.


Wright, P., Mcmahan, G. and Mcwilliams, A. 1993. Human Resources and Sustained Competitive Advantage: A Resource-Based Perspective. Center for Effective Organizations, p. 11.



Click the button above to view the complete essay, speech, term paper, or research paper








This essay is 100% guaranteed.


Title Length Color Rating  
The Importance of Human Resource Management Essay - Armstrong (2006) defined Human Resource Management as a strategic deployment of an organisation's most valued assets; the people working there, who individually and collectively contribute to the achievements and the objectives of the business. Links between HRM and performance are predominantly focused on the following practices: sophisticated selection and recruitment methods, training, teamwork, performance-related pay and employment security (Wall, Wood, 2005). Products can be copied, methods of production can be changed and optimized, companies can move from one continent to the next trying to exploit geographical advantages however, the one inescapable truth is that a strong, talented...   [tags: organisational performance, human resources,hrm]
:: 21 Works Cited
1427 words
(4.1 pages)
Powerful Essays [preview]
Importance of Human Resource Management Essays - Human resource is the most valuable asset of an organisation as it is the source of operational performance and competitive advantage in an organisation. An asset, by definition, is a useful or valuable thing or person. An organisation comprises of three types of assets, namely; financial assets, physical assets (infrastructure and equipment), intangible assets. Intangible assets include intellectual capital (patents, copyrights and trademarks), social capital and human capital. The creative thinking potential of an organisation’s current employees (Bolton, 1996), is the organisation’s most valuable asset, as people are the driving force within companies seeking to differentiate themselves i...   [tags: Human Resources Department]
:: 4 Works Cited
1176 words
(3.4 pages)
Strong Essays [preview]
The Importance of Human Resource Management Essay - Human resource management governs the most important asset of any organization: the employees. Human resources, or the employees of an organization, ‘both as labor and as a business function, has traditionally been viewed as a cost to be minimized and a potential source of efficiency gains’ (Becker and Gerhart, 1996, pp. 780). Organizations tend to overlook the fact that human resources is the backbone of any organization. Every one of us has our own personal skill sets, knowledge and experiences....   [tags: Performance Bonus, Communication]
:: 9 Works Cited
1057 words
(3 pages)
Strong Essays [preview]
The Importance of Human Resource Management Essay - Human resource management (HRM) is undoubtedly being considered as an indivisible element of the organisations from the outset. From recruitment to employee retention, HRM has always committed to assist company to search and retain talents that have values toward the sustainable development. In view of the fact that, there are several studies with evidences presented to prove that there is a relationship between HRM and organizational performance, in which some HRM theorists also suggested that there is a causal link between them (Cooke, 2000)....   [tags: development, performance, training] 1293 words
(3.7 pages)
Strong Essays [preview]
Human Resource Management and Health Care Essay - I. Introduction Human Resource Management is defined as the process of managing human talent to achieve an organization’s objectives (Bohlander & Snell, 2010). A more detailed definition is given by the Society for Human Resource Management which states that “human resource management is the function within an organization that focuses on recruiting, managing, and providing direction for the people who work in the organization” (Schmidt, 2011). The role that human resource management plays is the most vital in all business organizations....   [tags: Human Resource Management ]
:: 10 Works Cited
1335 words
(3.8 pages)
Strong Essays [preview]
Essay about The Importance of Training in Today's Human Resource World - Training “is a learning process that involves that acquisition of knowledge, skills, and abilities necessary to successfully perform a job.”(9thHRM) Training has a long history from past, present and future. Training is a very important aspect in today’s human resource world. In my current position I train new hire employees, as well as go through many training courses. I really enjoy training and am excited to explain the concepts of training from the beginning from what it could be in the future....   [tags: Business Management ]
:: 4 Works Cited
2206 words
(6.3 pages)
Strong Essays [preview]
The Importance of Work-Life Initiatives Essay - Work causes stress. Both men and women are working, raising a family, and going to school. Previously, women in the work force would take demotions or walk away from careers when having children. Today, families rely on a dual income. With both parents working full time, while raising children, the relationship between work and home responsibilities are unbalanced. This unbalance creates stress for both the employee and the employer. Work-life balance is the need to provide a schedule that will combine work, family relationships, and leisure time into a satisfying life....   [tags: Human Resource Management ]
:: 8 Works Cited
1886 words
(5.4 pages)
Term Papers [preview]
International Human Resource Management Essay - Introduction The Analysis Machines (2004) defined Multinational Corporation as an enterprise operating in two or more countries with headquarters in one country. In today’s world, most of the businesses are getting globalized by setting up there business operations abroad. There are various forces which facilitates globalization like liberalization of international trade, international integration of production, Research and marketing by major MNC’s and emergence of economic regions like European Union enabled companies to invest overseas to gain and maintain competitive advantage....   [tags: The Analysis Machine, Human Resource Practices]
:: 19 Works Cited
2182 words
(6.2 pages)
Powerful Essays [preview]
Strategic Human Resource Essay - Human Resource Management is defined as the management of activities undertaken to attract, develop, motivate, and maintain a high performing work force in an organization. There are a lot of myths about the HR department, for example people just view HR as a “hiring department” and believe it has no major role in growth of an organization. Traditionally, HR function has been viewed as primarily administrative which was focused on the level of the individual employee, the individual job, and the individual practice (Becker, Huselid, and Ulrich 2001), with the assumption that improvements in individual employee performance would undoubtedly enhance performance of the organization....   [tags: Human Resource Management, Business]
:: 15 Works Cited
1191 words
(3.4 pages)
Strong Essays [preview]
Human Resource Management Essay - The evolving nature of the economy has shift people’s attention to the term ‘Human Resource Management’. Human resource management according to Danny Samson refers to "the activities undertaken to attract, develop and maintain an effective workforce within an organization" (Samson & Daft 2005). Since human resource management it mainly dealing with workforce, employee motivation is one important component of this area. Employees’ level of motivation is a crucial component in determining a company’s performance (McKanic 2005)....   [tags: Business Human Resources] 1995 words
(5.7 pages)
Powerful Essays [preview]