...Importance of Human Resource Investment for Organizations and Economy: A Critical Analysis Jan Mohammed∗, Mitho Khan Bhatti∗∗, Ghulam Ali Jariko∗∗∗ & Abdul Wahid Zehri∗∗∗∗ Abstract Human resource is the most crucial asset of an organization. The successful performance of an organization, by and large depend upon the quality of its human resources. The quality of organization’s human resources depends upon the extent of knowledge through training and education they have received and their motivational level. Organizations want to utilize their manpower through human resources management. Human resource development (HRD) is one of the most important functions of human resource management. The aim of human resource development in an organization is to maximize the productivity and increase the return on investment of all the organizational stakeholders. HRD is a combination of organizational endeavors including education, training, development, career planning and development that ensure continual improvement and growth of both the individuals and organizations. The foray of workers entering into public and private sector organizations in Baluchistan from various disciplines has necessitated the need for appraising the Human Resource Development situations in Baluchistan. Therefore this article is an attempt to investigate the human resource situations in the province. Keywords: Human Resource Development, Human Resource Management, Training and Development...
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...qxd 14~8~04 16:05 Page 1 Chapter 1 The strategic importance of human resource development Introduction We start this chapter by examining the reasons why human resource development has become a critical part of an organization’s competitive capabilities, and explaining why people are important in organizations. We will also discuss how human resource development has changed over time, and why it is important in the modern competitive arena. The next section explores how human resource management has been modified to reflect the step changes in markets and production requirements over time. We will describe the nature of the changes to major business eras, leading to an appreciation of how skills requirements have reflected these major changes. After explaining what is meant by strategy, the third section develops key strategic issues in human resource development. We will also investigate how human resources can play a profoundly important part in developing and implementing strategy within an organization. Next, the emergence of human resources as a strategic issue is explored in greater depth. This section explains the critical differences between many Western firms’ and Japanese approaches to human resource development. We will show that human resource development needs to be in place alongside other important human resource issues, including industrial relations, and describe how human resources can become part of the core competence of an organization. ...
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...Question 9 * Human resource planning involves getting the right number of people with right skills at right place at right time to implement organizational strategies in order to achieve organisational objectives. * In light of the organization’s objectives, corporate and business level strategies, HRP is the process of analysing and organisation’s human resource needs and developing plans, policies and systems to satisfy those needs. * The process involves carrying out a skills analysis of the existing workforce, carrying out manpower forecasting, and taking action to ensure that supply meets demand. This may include the development of training and retraining strategies. Human resource planning has traditionally been used by organizations to ensure that the right person is in the right job at the right time. IMPORTANCE OF HRP MODEL * Provides quality workforce One of the Importance of Human Resource Planning is that effective Human Resource Planning fulfills the organization needs for a quality workforce. Quality workforce aids in giving a company a competitive advantage over its rivals. * Reduces labor costs Another Importance of Human Resource Planning is that a proper Human Resource plan reduces labor costs substantially by maintaining a balance between demand for and supply of HR i.e. works as a cost saving device for the company. * Facilitates rise in skills Another Importance of Human Resource Planning is that it facilitates the rise in skills, abilities...
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...Table of Contents Introduction 2 Differences between Domestic and International Human Resource Management 2 What is Expatriate 4 IHRM has three dimensions 4 International assignments create expatriates 5 Increasing Importance of International Human Resource Management 6 Significance of International Human Resource Management 9 Conclusion 11 Reference……. 12 Introduction As we enter the new millennium, more and more companies are recognizing the importance of managing their human resources as effectively as possible. They are also recognizing that doing so, however, cannot be done without recognition and incorporation of the global context. It is virtually impossible to read a business periodical or newspaper anywhere in the world without seeing stories detailing the success of a company due to how effectively it manages its people. As the environment becomes more global, managing people also becomes more challenging, more unpredictable and uncertain and more subject to rapid change and surprise. Thus what we are witnessing within human resource management (HRM) is the rapid appreciation for and development of all aspects of global and international activities and issues associated with and affected by HRM. And because the importance of managing people effectively in the global context is so great, many companies are devoting a great deal more time, attention, skill, and effort into doing it well. To be successful, many firms have to compete...
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...meant by Human Resource Planning? Human Resource Planning is a process of systematically reviewing human resource requirement to ensure that the required numbers of employees with the required skills are available when and where they are required. Human Resource Planning is the development of strategies for matching the size and skills of the workforce to organizational needs. Human resource planning assists organizations to recruit, retain, and optimize the deployment of the personnel needed to meet business objectives and to respond to changes in the external environment. The process involve carrying out a skills analysis of the existing workforce, carrying out manpower forecasting, and taking action to ensure that supply meets demand. This may consist of the development of training and retraining strategies. Human resource planning has typically been used by organizations to confirm that the right person is in the right job at the right time. 3.1 Identify the need and Importance of Human Resource Planning Human Resource Planning is important for an organization to achieve goal. The major importance of Human Resource Planning is: a) To avoid disturbance in the production process In Human Resource Planning, the manpower requirements of the organization are determined well in advance. So the manpower is supplied continuously to the organization. b) HRP needs for HRD: HRP is important for planning the investment in the development and utilization of human resources. Any...
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...INTRODUCTION TO HUMAN RESOURCE MANAGEMENT Human Resource Management is concerned with human beings, who are energetic elements of management. The success of an enterprise will depend upon the ability, strength and motivation of persons working in it. Human Resource Management refers to systematic approach to problems in any organization. Human Resource Management is concerned with all aspects of managing the human resources of an organization. According to Likert,’’Every aspect of firm’s activities is determined by the competence, motivation and general effectiveness of its human organization. Of all the tasks of management, managing the human component is the central and most important task because...
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...TRAINING AND DEVELOPMENT Training and Development The importance of training and development depends on human resource development. Training is the most important technique of human resource development. Training develops human skills and efficiency. Trained employees would be a valuable asset to an organization. Organizational efficiency, productivity, progress and development depend greatly on training. Organizational skills like viability, stability and growth can also be achieved through training. Training and development in healthcare are extremely important. There are many different workplaces that healthcare workers are found to need training and development and it varies. There are large and small medical practices, hospitals, therapy centers and testing facilities that all require employees to be skilled in specific tasks as well as administrative functions. Interpersonal skills among the staff are also necessary for the organization to be effective and serve the patients. Dealing with patient’s health and financial issues are also part of a healthcare worker’s skills. The importance of training and development to a larger extent depends on human resource development. Training is most important technique of human resource development. Training develops human skills and efficiency. Trained employees would be a valuable asset to an organization. Organizational efficiency, productivity, progress and development to a greater extent depend on training...
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...WHY IS THE HUMAN CAPITAL SO IMPORTANT FOR THE ECONOMIC DEVELOPMENT OF MAURITIUS? Introduction This assignment aims to look at the special importance of human capital to the economy of Mauritius. First, we go about defining the concept of human capital. Afterwards, there will be a section which talks a bit about the history of the economy of Mauritius. Then we will move on to another section which tries to explore the different factors as to why and how human capital is important to Mauritius. We will then have a concluding remark. We will end by some possible recommendations. What is human capital? Adam Smith defined human capital as follows: “Fourthly, of Justin Slay’s types of capital which is of the acquired and useful abilities of all the inhabitants or members of the education, study, or apprenticeship, always costs a real expense, which is a capital fixed and realized, as it were, in his person. Those talents, as they make a part of his fortune, so do they likewise that of the society to which he belongs. The improved dexterity of a workman may be considered in the same light as a machine or instrument of trade which facilitates and abridges labour, and which, though it costs a certain expense which certainly repays afterwards. The use of the term in the modern neoclassical economic literature dates back to Jacob Mincer's article "Investment in Human Capital and Personal Income Distribution" in the Journal of Political Economy in 1958. Theorists also...
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... |School of Business | | |HRM/300 Fundamentals of HumanResourceManagement | Copyright © 2009, 2008 by University of Phoenix. All rights reserved. MU12BSM05 7/11/2012-8/8/2012 Course Description This course explores the critical role of human achieving resources in business results. The course will help students to have a solid understanding of the fundamentals of human resource management and its strategic relevance in business today. This course will provide students with a critical perspective on the development of human capital in the context of a unified system of attracting, retaining and developing talent that creates and supports the vision and values of the organization. Students will develop an understanding of the critical business implications for human resource professionals today. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may...
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...Have Learned From Human Resource Management Class Owen Li Samford University Brock School of Business Abstract I have been taking Dr. Robert W. Service’s Human Resource Management (HRM) class for four months, and I was able to learn insightful thoughts and valuable objectives of human resource management. In this paper, I will discuss the knowledge, principles, and theories I have learned from the articles I have read, the HR managers I have interviewed, and the HRM classes I have taken. The paper will discuss HRM in terms of interviewing and hiring, training, employee development, succession planning, and appraisals. I will also discuss the work environment, employee protection, technologies, and overall HR management-planning and forecasting. Keywords: human resource management, interviewing and hiring, training, employee development, succession planning, appraisals, work environment, employee protection, technologies, overall HR management-planning and forecasting What I Have Learned From Human Resource Class No matter which topic we discuss in our HRM class, they all somehow relate to one objective that Dr. Robert W. Service emphasizes to us all the time: “the organization has the right people in the right positions with the right training and motivation to do tasks effectively and efficiently at the right time” (Service and Loudon, 2010). With this primary HR objective in mind, I realize that HRM plays a very important role in human resource allocation for...
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...International Human Resource Management product: 4273 | course code: c252|c352 International Human Resource Management Centre for Financial and Management Studies, SOAS, University of London First Edition 2008, 2010 All rights reserved. No part of this course material may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, including photocopying and recording, or in information storage or retrieval systems, without written permission from the Centre for Financial & Management Studies, SOAS, University of London. International Human Resource Management Course Introduction and Overview Contents 1 Course Objectives 3 2 The Authors 4 3 Course Structure 4 4 Learning Objectives 5 5 Study Materials and Resources 6 6 Teaching and Learning Strategy 6 7 Assessment 7 International Human Resource Management 2 University of London Course Introduction and Overview Centre for Financial and Management Studies 3 1 Course Objectives This course aims to introduce you to the study and practice of International Human Resource Management (IHRM). To benefit from this, you need, of course, to have a basic understanding of Human Resource Management (HRM) itself. HRM has developed from personnel management, but instead of concentrating primarily on the hiring and firing of staff, it is the strategic and coherent approach to the overall management of an organisation’s most valued assets – the people working there who contribute...
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...Training and Development HRM 409B Survey in Human Resource Management and Organizational Development August 12, 2014 Abstract Employee training is often seen as an unnecessary financial burden on the company. The nature of the modern business environment dictates that training more important than it ever has been. Continual changes, especially when it comes to technology, mandates that employees are regularly trained on new skills. Training is not a punishment, even though employees typically do not enjoy being exposed to it. Some organizations only implement training programs that are mandated by the government. There are different benefits and challenges that come along with training. Key learning can provide a competitive advantage. Human resources should ideally be the department responsible for implementing and maintaining a training program. Training and development of employees is an important part of successful business. Table of Contents Introduction 4 Concept of Training and Development 4 Current findings 5 Employment Trends 6 Benefits and Challenges 8 Key Learning 9 Recommendations 9 Conclusion 10 References 11 Introduction Employee training and development is an important part of the business. Understanding the concept of training and how it will aid both the company and the employee is vital. This paper will address the current findings of training and Human Resources...
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...A GUEST LECTURE ON HRD AND PERSONNEL MANAGEMENT By P.B.S. KUMAR B.Sc.MA(PM),MA(Ind.Eco.),MBA(HR),BGL,DLL,PGDIRPM A BRIEF NOTES ON HRD IN INDIA STRATEGIC OVERVIEW Human resources can be viewed as the same of knowledge, skills, attitudes, commitment values and the like of people of an organization. Development is acquisition of capabilities that are needed to do the present job, or the future expected job. Human Resource Development is a positive concept in human resource management. The purpose of Human Resource Development is to enhance an employee’s capacity to successfully handle greater responsibilities, through formal or informal means. Any effective HRD programme must satisfy the needs of an organization. To this end, management must outline the needs of the organization and convert them into objectives with a view to formulate a workable programme. The purpose of this chapter is to help the student understand the basic concepts, principles and practices of HRD. INTRODUCTION; People are the real assets of an organization. If treated well, they can take organizations to commanding heights. Two plus two could be four or even ten. Organisation are generally, driven by a set of predetermined goals. They employ physical, financial and human resources in order to achieve the goals. These goals have no meaning unless people understand the underlying philosophy, translate them into concrete action plans and pur ktheir heart while realizing the targets. Organisation,...
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...NIGERIAN TURKISH NILE UNIVERSITY, ABUJA DEPARTMENT OF BUSINESS ADMINISTRATION EXECUTIVE MBA HUMAN RESOURCE INFORMATION SYSTEM HUMAN RESOURCE MANAGEMENT: MBA807 PREPARED BY ENEJO JOHN ID NUMBER: 151323006 Table of Contents INTRODUCTION ............................................................................................................................... 2 HISTORY AND EVOLUTION OF HUMAN RESOURCES SOFTWARE ................................................... 3 Defining Different Types of HRIS Solutions..................................................................................... 5 What Are HR Systems Managing? .............................................................................................. 5 What Are the Main HR Software Solutions? .............................................................................. 5 HRIS Solutions ............................................................................................................................. 5 HCM Solutions............................................................................................................................. 6 HRMS Solutions ........................................................................................................................... 6 HUMAN RESOURCE INFORMATION SYSTEM-DEFINITION.............................................................. 7 HRIS – Why it is needed? .................................................................
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...market; constantly changing environment and globalisation are influencing the workplace structure and leading to increased reliance on employee skills for providing better products and services. Employees not trained to deal with the advanced management methods and techniques cannot work towards the better business performance. This issue is one of the most important topics in business management studies. This concept is now well established and is increasingly affecting the field of management. It has proved particularly valuable for those organisations who seek better performance. Find out more from UK Essays here: http://www.ukessays.com/essays/human-resources/value-and-importance-of-training.php#ixzz3LeIECfwW 1.4 Aims and objectives: The main aim of this paper is to study the value and importance of training and development of employees in terms of overall organisation performance. *...
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