human resource is the most important asset of an organization

With today's workforce becoming increasingly diverse and organizations doing more to maximize the benefits of the differences in employees, Human Resource managers are evolving from the old school side-line player to the front-line fighters. Reliability is a link to the extent to which a selection technique achieves consistency in measuring. Another concerning question a company should frankly answer is what kind of selection technique they need to apply, i.e. Are Celebrities Being Good Role Models or Are They Setting a Bad Example for the Teenagers. The 21st Century Business Environment Traditionally, human resource focused mainly on administrative functions and process personnel management. Furthermore the level of vacancy is another one of the factors a company should consider before choosing a specific method of recruitment and selection. Scholars of strategic human capital and strategic human resource management face a similar … This theory has been supported in the work of Noe et al (2010, p.719) Many elements are included in the Human Asset Management area, including employer … 1. In view of this statement, human resource planning plays an important role to optimize the utilization of its asset in term of cost and productivity. Source: Schmidt, F. L., & Hunter, J. E. (1998). However, human resource is still the most important element/asset in an organization that links back and is the core to those elements mentioned. Because it … Seeking new employees is an essential element for each employer, not only in organisations where particular emphasis is placed on the company’s human resources policy. Pilbeam & Cordbridge (2006) assert that good recruitment and selection is important element of the HR strategy, its forecasting requirements and a key to getting the appropriate people to attain a business goals. All work is written to order. Human Resource Is The Most Important Asset Of An Organization Harvard Case Study Solution and Analysis of Harvard Business Case Studies Solutions – Assignment HelpIn most courses studied at Harvard Business schools, students are provided with a case study. The CEO addresses his collaborators: “You are the most important resource at this company”. Decision Human resources are the most of import assets a modern organisation has. For every organization needed labor in order to maintain the productivity of every sector. The success or failure of an organization is largely dependent on the calibre of the people working therein. As the field of Human Resource Management has strongly chang… 184-190) improving the structure of interview does not increase validity. This called for... StudyMode - Premium and Free Essays, Term Papers & Book Notes. Assessment centers are described by Pilbeam & Corbridge (2006, p. 157) as “useful in penetrating behaviors relating to interpersonal relationships, leadership, influencing ability, sociability, competitiveness, self-motivation, tolerance, persuasiveness, and decisiveness”. It needs to be considered in that point reliability and validity, but the detailed aspects of these two key criteria, which are already mentioned, are going to be explained in the following part of this dissertation. However, due to technology advancement, administrative tasks have reduced. But Human Resource department is basically the backbone of an organization as it is the HR officers who manage the most important asset of an organization that is its employees. The decision making process is stipulated by individual needs of a company. INTRODUCTION Important observation about the maxim of chronological dependency, says that it can only be as accurate as decision made in early stage to pre-screen down number of applicants. Nevertheless the use of interviews is still the most popular selection method in the world. select. “Human Resource (employees) is the most important asset of an organization. Thus, human resource is often regarded as the scarcest and most important asset that creates the largest and longest lasting competitive advantage for an organization. Selection is the process of selecting candidates “who have relevant qualifications to fill jobs in” a company (Mathis, R., 1991, p. 209). We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. Despite managers’ claims that their organization’s human capital is their “most important asset,” few can confidently state the financial value of that resource or quantify in financial terms how changes in management practices, culture, or workforce composition affect the value of that resource. Without a doubt, the Internet has been a main driver in structuring the modern day economy. “Human Resource (employees) is the most important asset of an organization. This connection is the most visible in the recruitment and selection of specific numbers of employees with particular abilities, which match to company’s requirements. Secondly, it should create a positive image of the organization in the eyes of people who come in contact with it. education, vocational training, work experience, quickness of comprehension and aptitude for learning, determination in following them up, success rate, emotional stability, ability to stand up to stress. This domain is not a single, simplified function, but a group of plans, systems, tools, processes and services. Or it may be a longer process also including a job interview and other techniques aimed at finding the best people. Structured interviews should potentially increase the quality of decisions made (Newell, S., 2001, p. 33). Human resource department is a group of professional that doing labor management such as recruitment, labor welfare, academic and research of staff training, management of performance appraisal of staff, benefits and compensation and employee relationship. You can view samples of our professional work here. Two well-established systems of person specification frameworks discussed by Beardwell and Claydon (2004, p. 205) are (Roger, 1952) seven-point plan and (Munro Fraser, 1954) similar five point plan, illustrated in Table.1.1 and 1.2. These aspects of human resource improve with age and experience, which no other resource can do. The literature on the subject of organization differentiates between many selection techniques. Statement of Authorship Every company should adapt recruitment and selection costs to its policy, capabilities and vacancy and on this basis consider if to recruit internally or externally. Correspondence to these theories, organization will gain in productivity and profit once the... ...Introduction Person specification framework (ACAS cited in Beardwell & Claydon, 2004). Assessment centers have become popular venues for the selection of candidates, the identification of their potentials and the assessment of their training and development needs. The fact that an employer draws up a person specification demonstrates an attempt to introduce some objectivity into what can otherwise be very subjective process. Oswin (2011) states that human resource is a term used to describe the individuals who make up the workforce of an organization. 148-149). No matter what organization there are out there in the business world, neither technology nor machines can out beat the importance of having qualified men and women to do the task. While Goold and Campbell conclude that human resource strategies depend on management profile, whether is it strategic planning, financial control or strategic control (ibid.). Human resource planning (HRP) is the continuous process of systematic planning ahead to achieve optimum use of an organization's most valuable asset—quality employees. because merely human existences can do. Essay. But as Marchington & Wilkinson (cited in Beardwell, I., Holden, L. & Claydon, T., 2004) quote “none of the techniques, irrespective of how well they are designed and administered, is capable of producing perfect selection decisions that predict with certainty who is or who is not bound to be a good performer in a particular role”. Equally, validity has also three aspects: “face validity” – tests are more acceptable when candidates find “relevant” questions; “construct validity” and “predictive validity” – how well the suitability of candidates for the position is predicted (Price A., 2000, p. 149). The number of multinational companies from the USA has increased, more and more large companies are using a variety of tests ranging from ability to aptitude, personality and intelligence, especially those companies who receive a large number of applications and those needing more skilled employees. In fact, managers should decide if a free capacity either proves to be a job opportunity for a potential employee or whether there is an alternative option to resolve the situation. It is good practice to specify what is essential or the minimum required to perform the job, as well as what is desirable. Table 1. In examining selection methods, Armstrong (2006) further suggests that too much innovation in selection methods may turn prospective candidates off. Table1.3 The predictive accuracy of selection methods, Source: Anderson and Shackleton cited in Beardwell et al. therefore, they need to recruit people with requisite skills, qualifications and experience. Armstrong (2006) suggests it is the “comfort factor” and that recognition needs to be given to the fact that both interviewers and interviewees like them and have grown to expect them. It means, that it should be made recognition of the needs for new human resource. The emphasis is on having the right people in the right place at the right time (Lanz, 1988). He believes it, and he is right. Whereas Kochan & Barocci model (cited in Beardwell, Holden & Claydon, 2004) point out that ”organizations have life cycles, and that recruitment, selection and staffing policies vary according to an organization’s perceived stage in the cycle”. (Dashgarzadeh et al (2012) states that... ...Human Resource Is The Most Important Asset of An Organization Bontis et al (1999) suggests that undeniably human resource in the organization is the combination of knowledge, intelligence, skills and expertise which provide each organization with its distinctive character. Data about accuracy of various types of selection techniques covers large differences within each technique. *You can also browse our support articles here >. Throughout the years, the importance of employee have increasingly emphasized in organizations. To accurately recruit candidates, the second part of job analysis – personnel specification is required (Beardwell J., 1994, p.195). This phase of recruitment process is called pre-screening candidates, which will help to reduce the numbers of unsuitable candidates and to apply more detailed methods of assessment. It is easy to understand why organizations talk about people as an asset, but tend to manage them largely as a cost to be minimized. Recruiting is an extremely complicated process consisting of many phases. Tangible assets include financial and physical assets such as machineries and manufacturing plants while examples of intangible assets are branding, company reputation, technological know-how and human resource (Noe et al., 2012). … Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com. Some employees regard Human Resource (HR) as the policing, traumatizing, systematizing arm of executive management. To avoid such danger, Gabb (1997, p. 64) argued that “companies often prefer an interview panel of two or sequential interviews with different people”. People in the organizations nurture the organizations with their skills, competences, knowledge and experience and have the ability to take the organization out from the stage of crisis. Human capital is arguably the most valuable asset held by an organization. Study for free with our range of university lectures! I declare that all material included in this essay/report/project/dissertation is the end result of my own work and that due acknowledgement have been given in the bibliography and reference to ALL sources be they printed, electronic or personal. The most important aspects of human resource are the knowledge, skills, creativity and motivation possessed by people. Human resource management is to maintain and manage in the labor sector of an organization. Conducting business activities and competition between companies in developing international markets show, that Human Resource Management is the source of permanent competitiveness in contemporary business. An extensive range of assessment methods is currently available to the recruiter like : biodata, assessment centre, work sample, references are very useful and reliable. Pages: 4 (1021 words) Internal and External Factors To Consider When Planning the Human Resource … Second, this success is likely to be achieved if the personal policies and procedure of the enterprise are also linked with … Each employer wants to hire the most appropriate candidate for the job who not only has the right qualifications but whose personality will blend in well with the company’s structure. When comes to human resource, it is also discuss about productivity in every sector of an organization. the one which may facilitate effective employment. However, according to Heffcutt & Arthur (1994, pp. Job analysis is the first stage of the whole recruitment and selection process and everything else is built upon it. Furthermore Anderson and Shackleton (1998, p.15) notice that recruitment and selection as a system is “(…) comprised of a series of inter-related components”. They emphasize that assessment techniques should predict and also affect on the future performance of employee. Figure 1. John Storey (2001, p.6) says that “It is human capability and commitment, which in the find analysis distinguish successful organization from the rest.” This sentence is essential to understand the fundamental tensions and ambiguities associated with Human Resource Management. The role of human resource has shifted and seems to be taking up more responsibility in company strategic planning and development. By Chuck Leddy Assessing the value of human capital (HC), the most important asset of any organization, has long been easier said than done. The process of writing a job description can be very time consuming, especially if company don’t provide any system for job analysis. 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