Human Resource Management ( Hrm )

2412 Words Nov 13th, 2014 10 Pages
The ability to attract, retain and develop talented employees is a key feature of successful businesses. People are an organization 's most valuable asset and this is especially true in low-tech, labour-intensive construction industry. “People are individuals who bring their own perspectives, values and attributes to organizational life, and, when managed effectively, these human traits can bring considerable benefits to organizations” (Mullins 1999). However, when managed poorly they have the potential to limit organizational growth and threaten the viability of a business. “There are countless examples of corporate and project crises in the construction sector which have arisen as the result of people 's behaviour, and it would seem that human resource management (HRM) has the potential to eliminate more construction risks than any other management approach” (Loosemore, 2000). More importantly, human resource management (HRM) has the potential to release a significant amount of productive potential in the construction industry, which has remained untapped because of ignorance of good HRM practice in this area. “Construction is one of the largest sectors of the UK economy. It contributes almost £90 billion to the UK economy (or 6.7%) in value added, comprises over 280,000 businesses covering some 2.93 million jobs, which is equivalent to about 10% of total UK employment” (DBIS, 2013). Productivity and profitability increase within construction industry would…

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