. Table1.3 The predictive accuracy of selection methods, Source: Anderson and Shackleton cited in Beardwell et al. Inappropriate selection and recruitment decisions can have a range of undesirable consequences for the organization and the recruit, including: reduced organizational effectiveness, invalidate reward and development strategies, unfair for the person applying for job and higher rates of turnover. In summary, all organization are made up of men and women to take up positions to do specific task and directly manage by human resource management. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. Human resource is a resource provided by labor. Our academic experts are ready and waiting to assist with any writing project you may have. It is important here, to say that Human Resource Planning (HRP) is connection between strategic business planning and strategic Human Resource Management. Importance Of Newspaper In History, Mental Asylum Patient Stories, Aldi Salted Caramel Ice Lolly, 5 Way Switch 2 Humbuckers, Cyclamen Care In South Africa, Upstream Meaning In Kannada, Sample Size Determination In Nursing Research Ppt, Laptop Rtx 2060 Termurah 2020, "/> human resource is the most important asset of an organization . Table1.3 The predictive accuracy of selection methods, Source: Anderson and Shackleton cited in Beardwell et al. Inappropriate selection and recruitment decisions can have a range of undesirable consequences for the organization and the recruit, including: reduced organizational effectiveness, invalidate reward and development strategies, unfair for the person applying for job and higher rates of turnover. In summary, all organization are made up of men and women to take up positions to do specific task and directly manage by human resource management. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. Human resource is a resource provided by labor. Our academic experts are ready and waiting to assist with any writing project you may have. It is important here, to say that Human Resource Planning (HRP) is connection between strategic business planning and strategic Human Resource Management. Importance Of Newspaper In History, Mental Asylum Patient Stories, Aldi Salted Caramel Ice Lolly, 5 Way Switch 2 Humbuckers, Cyclamen Care In South Africa, Upstream Meaning In Kannada, Sample Size Determination In Nursing Research Ppt, Laptop Rtx 2060 Termurah 2020, " />

human resource is the most important asset of an organization

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human resource is the most important asset of an organization

“Human Resource (employees) is the most important asset of an organization. The decision making process is stipulated by individual needs of a company. Please join StudyMode to read the full document. A company should frankly answer the question concerning the kind of selection technique they may need to apply, i.e. Introduction (“Factors of production definition”). However, due to technology advancement, administrative tasks have reduced. When planning to recruit one should also include: discussions with clients to predict future hiring needs; maintenance of a contacts’ network (candidates, employees, competitors); development and maintenance of a strong employee referral program; investment in recruiter training and development; cooperation with management to ensure adequate budget (American Management Association International, Aug 2006, p.10). Medium validity has bio data, and the low validity: references, interviews, personality tests, whereas graphology and astrology do not have any validity (Cornelius N., 1999, pp. Pages: 4 (1021 words) Internal and External Factors To Consider When Planning the Human Resource … The idea that human resources, employees across all levels of an organization, as the most important asset is increasingly staking its claim in the 21st century business landscape. All work is written to order. As the field of Human Resource Management has strongly changed in recent years, organizations were obligated to become more dynamics and complex. While doing so, they have to keep the present as well as the future requirements of the. This domain is not a single, simplified function, but a group of plans, systems, tools, processes and services. Human Resource (HR) and Human Resource Management (HRM) the one which may facilitate effective employment. Moreover, recruitment and selection is a necessary element of people resourcing strategy, due to communicated policies, procedures and practices can considerably play a part in effective organizational performance, “(…) to good employee relations and to a positive public image” (Pilbeam & Corbridge, 2002). These employees see HR staff as gatekeepers, people who hold little interest in employee concerns. Figure 3 shows the validity, estimated by meta analyses, of many selection methods. 546 Words 3 Pages. Job analysis is the first stage of the whole recruitment and selection process and everything else is built upon it. Human resource management is to maintain and manage in the labor sector of an organization. Organizations are relying on managers to get the people who get the job done, and of course, make the company money. (2004) the enlargement in using assessment centers and selection testing like a more accurate methods, can help to improve the effectiveness of the selection process. Each of these elements provides huge possibilities for profit, provided that one can use effective solutions in exploiting them. Majo This called for... StudyMode - Premium and Free Essays, Term Papers & Book Notes. Nowadays, we understand that technology is growing rapidly in past decade,... ...Human Resource is the Most Important Asset of an Organization 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. Figure 1. Done By: Why is the manpower very affecting toward every organization? therefore, they need to recruit people with requisite skills, qualifications and experience. 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. According to Pilbeam & Corbridge (2006) theory the systems approach gives an analytical skeleton and allow diffusion through the selection and recruitment sub – systems, which are: attraction, reduction, selection and transition. In Singapore, where there are no natural resources, human capital is one of the main resources that the country depends on to attract foreign investors. The business environment has continually, in the past and present, shaped the way in which countries are governed, how companies strategize and the way economies shift. INTRODUCTION Furthermore, to ensure the long-term survival of an organization, it is through proper motivation that encourages human resource, change, innovation and the capability to learn. Nowadays is a lot of variations in recruitment and selection practices, reflecting an organization’s strategy and philosophy towards the management of people. The organization put in affords to meet the expectation of the employees so that create a workplace atmosphere among the employees (Upson,2011). Moreover, human errors are much more expensive in comparison to such assets as land and capital, and often result in serious irreversible consequences. This theory has been supported in the work of Noe et al (2010, p.719) 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. The importance of the recruitment function is clear when one realizes that by hiring the most competent applicants the firm’s performance can be significantly enhanced. While many studies in recent years have raised concern about selection and validity, the most widely used methods remain the ‘classic trio’ application form, interview, and references (Taylor 2001). Recruitment and selection are works of the same system and they are so closely connected, although as Foot & Hook (cited in Rayner & Smith, 2005 p.121) suggest that ”each requires a separate range of skills and expertise, and each function may in practice be fulfilled by different staff members, or indeed the recruitment function, but not normally the selection decision, may be outsourced to an agency, so it makes sense to treat each function separately”, but Pilbeam & Corbridge (2006) note that they are not mutually exclusive functions. He also suggests that most interviewers / organisations may not be aware of what the research suggests. In this paper, we will study how the theory of compensation management, job rotation, recognition and training will motivate employees. It is also necessary to think about the context of the job and the wider organisational requirements to specify any elements of person-organisation fit that are important. A wise choice of employees plays a key role in the functioning of an organization. The first part of the essay will discuss the importance of human resource and how is it is essential to the success of any organization. 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. Firstly, recruitment should focus on both attraction and retention of the interest of applicants suitable for a given job. P (2009) mentioned that organizational psychology holds that successful organizations do not owe their success solely to market realities and sustainable competitive advantages. Effective use of recruitment tools depends on the available budget. Ironically, while human resources are the most important asset in an organization, they are also the cost involved during the training activity. Practicality of the selection method means that it should meet the constraints of cost and time, whereas sensitivity focuses on distinguishing one candidate from another. Company should consider some factors, like company’s budget, level of vacancy, time and selection technique in order to choose the right way in recruitment process. “Good selection methods must meet four basic requirements: practicality, sensitivity, reliability and validity” (Price, A., 2000, pp. It seems that the face-to-face contact with the applicant and the possibility of assessing the candidate’s social and communication skills are the main advantages of the interview, and hence the main reason for using it. 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. 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. When compared with other selection methods, the ‘classic trio’ is relatively low-cost and provides the opportunity to have a face to face meeting. 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. This process is called job analysis, and is particularly important in circumstances where you are preparing a job description for a new or significantly changed post. This essay will provide a definition to Human Resource (HR) and determine whether HR is the most important asset in the organization. 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. Assets can be defined as "tangible and intangible resources of a firm which can be drawn upon by a the firm when required to achieve its objective(s)" (Ray and Ramakrishnan, 2006). To accurately recruit candidates, the second part of job analysis – personnel specification is required (Beardwell J., 1994, p.195). A recent comparative study of six countries found that the interview was one of the most popular selection methods. Looking for a flexible role? The perception of value in an organization, brand or product, merits customer adoption while supplementing organizational goals that could, in the long term, determine financial sustainability and success of a company. the one which may facilitate effective employment. Oswin (2011) states that human resource is a term used to describe the individuals who make up the workforce of an organization. The other costs the organization should take into consideration are costs of training selected candidates to undertake contributing role to the organization as well as the costs of recruiting and selecting the „wrong” person (Cornelius, N., 1999, p. 29). Rouse (2011) defines human resources as the people who work for the organization; human resource management is really employee management with an emphasis on those employees as assets of the business. Throughout the years, the importance of employee have increasingly emphasized in organizations. Psychological. In summary of results, the higher will be coefficient (that is, the closer it is to 1.0) the more dependable the technique (Bratton J., 2003, p.235). The key point of selection is how to make fair and relevant assessment, which indicates strengths and weaknesses of applicant (Boxall P., Purcell J., 2003, p.141). This domain is not a single, simplified function, but a group of plans, systems, tools, processes and services. The command to start the recruitment process comes from senior managers and should be based on a review of the situation to determine that recruitment actually exists. Another concerning question a company should frankly answer is what kind of selection technique they need to apply, i.e. 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. Selection is the process of selecting candidates “who have relevant qualifications to fill jobs in” a company (Mathis, R., 1991, p. 209). 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. The role of Human Resource is to determine the best way to align the employees in the organization so they are best able to assist the organization to achieve its goals. Human resources really give a great impact to the contribution of an organization performance. Traditionally, human resource focused mainly on administrative functions and process personnel management. Involvement with company’s strategic planning will allow human resource department to have a broader view of employees’ skill requirement and deployment. Reliability of the method can be considered in three aspects: “test-retest reliability” – the duration should not have an impact on the score when doing the same tests; “inter-rater reliability” – the same scores should be given by different interviewers; “internal consistency” – different questions measuring the same competence should give comparable results. 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. The person specification profile is the people characteristics required to do the job effectively. Furthermore recruitment is a process of attracting individuals on a timely basis, in sufficient numbers and with appropriate qualifications, developing their interest in an organization and encouraging them to apply for jobs within it (Mondy & Noe, 1993; Crawford, 2004). 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. For that reason, recruitment and selection process should be permanent implicated and developed in company structures. When the process of job analysis has been completed and clearly identified, the next step in recruitment process is to attract quantity of suitable applicants with desired features. An extensive range of assessment methods is currently available to the recruiter like : biodata, assessment centre, work sample, references are very useful and reliable. The importance of human resource strategy becomes evident when an organization acknowledges the most important asset of the company, the employees. Disclaimer: This work has been submitted by a university student. No plagiarism, guaranteed! The emphasis is on having the right people in the right place at the right time (Lanz, 1988). Hence, to achieve this, a company has to pay a huge attention on the recruitment and selection process. Bratton (2003, p.227) notes that appropriate selection technique should recognize the way in which people differ and must be extended to a prediction of performance in the workplace. Internet interconnectivity has made the world... ...| *You can also browse our support articles here >. Table1.3 The predictive accuracy of selection methods, Source: Anderson and Shackleton cited in Beardwell et al. Inappropriate selection and recruitment decisions can have a range of undesirable consequences for the organization and the recruit, including: reduced organizational effectiveness, invalidate reward and development strategies, unfair for the person applying for job and higher rates of turnover. In summary, all organization are made up of men and women to take up positions to do specific task and directly manage by human resource management. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. Human resource is a resource provided by labor. Our academic experts are ready and waiting to assist with any writing project you may have. It is important here, to say that Human Resource Planning (HRP) is connection between strategic business planning and strategic Human Resource Management.

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