Human Resource Management And Human Resources

2306 Words10 Pages
Many companies are comprised of various departments within, all responsible for their own particular area of expertise. For instance, the individuals that make up Accounts Payable are responsible for ensuring that the “bills” get paid, Accounts Receivable they are responsible for collecting money, etc. One of the departments that seems to at times get slightly overlooked is the Human Resources department, which is odd given the important and valuable role that the individuals within it play. It has been heard that the role of human resource management is to essentially “push paper”, this couldn’t be further from the truth. Outside of the fact that in many instances these individuals ensure the employees get paid and individuals are hired, it can be suggested that they are essentially the glue that holds the business and its employees together. In fact, Ruth Mayhew explains, “Human resources plays an essential role in developing a company’s strategy as well as handling the employee-centered activities of an organization.” (Mayhew, 2016). Human resources has the ability to add great value for businesses such as, establishing a “best in class” HR strategies, the recruiting process, a company’s competitive strategy, and workforce planning.
At a very high level an instance in which human resource management brought about great value in establishing a “best in class” HR strategy can be seen in the global insurance company Lloyd’s. Lloyd’s has been in business for three centuries
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