Human Capital Management Is Important For An Organization Essay

1. Ch 1, page 60-61, question 4: What is “evidence based HR”? Why might an HR department resist becoming evidenced based?

2. Give some examples of ethical issues that you have experienced in jobs, and explain how HR did or did not help resolve them.

“ Human capital is what makes individuals productive, and productivity is what determines our standard of living.”(Wheelan, 130). By investing in human capital, we are able to have more skilled workers who are productive and positively affect the economy because we make more contribution and therefore will get more in return.

While costs need to be cut, CGMS is also concerned with preserving human capital. This is reiterated by Flynn (2009), warning employers to be mindful of prematurely cutting staff, as it can be challenging and expensive finding qualified employees when the economy rebounds.

People are biggest asset for every organization and, therefore, to draw, motivate, and preserve the most skilled employees and assign them to jobs for which they are exceptionally well suited is a responsible job for human resource. Therefore, human resources management is done in all type of organizations. Profound management of people is equally indispensable in success of organizations as the sound management of production, finance, and other operations. The human resource management field postulates the infinite diversity of people and their dynamics (McKenzie & Traynor, 2002). To get into this career field, one must have the required education degree by completing many different courses, and have the experience along with skills and

Human capital includes the individual capacities, learning, abilities, and experience of the organization's representatives and administrators. This information is pertinent to the job needing to be done, and in addition the ability to add to this store of learning, aptitudes, and experience through learning. Human capital is the establishment of scholarly capital. Scholarly capital is created through pulling in, creating, and holding human capital.

Human capital plays a considerable role in the economic environments. It is not cash, assets, but it is people, which are the critical differentiators of a business enterprise (Fiz-enz, 2000). It is an organisation’s possess individual tacit knowledge (Nelson and Winter, 1982). There are four factors involved by human capital: genetic inheritance, education, experience and attitudes about life and business (Hudson, 1993). All of these factors are intangible and can be invaluable. Human Capital is a source of innovation and strategic renewal, such as improving personal skills, re-engineering new process or just daydreaming at the office (Hudson, 1993). According to Figure 1 (Bontis, 1998), Human Capital is about the intellect of human. It is an internal control and development

Human capital management plays an important role in the recruitment process. It is essential for hiring, managing, training high performing employees. Human capital management is important for hiring the right talent, orienting him/her to the organization, making a new employee feel comfortable, training employees in order to constantly upgrade their skills, retaining employees and making employees self sufficient and prepare them for adverse conditions.

Whether an organization consists of five or 25,000 employees, human resources management is vital to the success of the organization. HR is important to all managers because it provides managers with the resources – the employees – necessary to produce the work for the managers and the organization. Beyond this role, HR is capable of becoming a strong strategic partner when it comes to “establishing the overall direction and objectives of key areas of human resource management in order to ensure that they not only are consistent with but also support the achievement of business goals.” (Massey, 1994, p. 27)

The importance of workers ability to adapt to novel situations in the workplace and perform at an elevated level may currently be more crucial than ever.

Analysis of Human Resource Management The report starts with the introduction to Human Resource Management (HRM) and the role it has to play within an organisation followed by brief introduction of the chosen organisation for the discussion-McDonald’s Restaurants Ltd. Also, it gives the reasons why this organisation has been chosen. The report presents the key strategic issues and corporate strategy of McDonald’s.

Today, Human Capital Management (HCM) is much more than managing payroll, benefits, and other administrative aspects of the business. It is a department responsible for taking the lead in identifying the needs of an organization by aligning employee behavior with the culture and strategies defined by leadership.

Human Resource Management involves a wide array of functions that encompasses the time from when an employee enters an organization to the time the employee leaves the organization. The specific activities that are involved in HRM include job design and analysis, recruitment, orientation and placement, development and training of the personnel, employee remuneration, and performance appraisal (Aswathappa, 2007: 5). This paper shall focus on three main activities which are recruitment, training, and personnel development. When it comes to recruitment, it is incumbent upon the Human Resource Manager to bring into the workforce, employees that are both wiling and competent to accomplish specific tasks. The work of recruitment goes hand in

Human Resource Management Businesses use different motivational techniques to keep employees happy, it is important to keep employees happy so that they work effectively and efficiently. The HR department will spend lots on different ideas to try and keep their employees working hard often including rewards for hard work or constant attendance or even by in some cases punishing workers for not working to their potential. I will look into different cultures, motivational theories and techniques, job satisfaction, the importance of management styles, is money the only motivator and employee demotivation. Examples of motivational techniques In 1943 Abraham Maslow suggested that all people have a hierarchy of needs.

Human resource management (HRM) is the strategic and coherent approach to the management of an organization's most valued assets - the people working there who individually and collectively contribute to the achievement of the objectives of the business.[1] The terms "human resource management" and "human resources" (HR) have largely replaced the term "personnel management" as a description of the processes involved in managing people in organizations.[1] Human Resource management is evolving rapidly. Human resource management is both an academic theory and a business practice that addresses the theoretical and practical techniques of managing a workforce.