Hotel Millennium: The Case Of Human Resource Management

2686 Words11 Pages
Human Resource Management

Final Paper

Anglia Ruskin University

STU40664

Word Count 2702

Submitted on the 20th of October, 2014

IMPACT OF HUMAN RESOURCE MANAGEMENT ON ORGANISATIONAL SUCCESS
The Case of Hotel Millennium

Introduction
Human Resource Management (FIRM) can be described as the planning, organizing, directing, implementation and control of policies and processes aimed at optimum utilization of employees in a bid to achieve the corporate objectives. According to Johnason, P.
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Companies in the beginning or growth phases can benefit from identifying training needs for existing staff. It's much less expensive than the cost to hire additional staff or more qualified candidates. In addition, it's a strategy that also can reduce turnover and improve employee retention.
Employee Satisfaction
HRM can determine the level of employee satisfaction with carefully designed employee surveys, focus groups and an exit interview strategy. What underlies employee dissatisfaction can be addressed to motivate employees.
Human Capital Value
Human resources expert or staff can increase the understanding of how important human capital is to the company's bottom line. For small businesses, in particular, human capital is critical because so many smaller firms have employees who perform cross-functional duties. With a smaller workforce, if just one person leaves, it leaves the company with a huge gap to fill and a potential threat to the company's profitability.
Conflict
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