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Human Resource is the most important asset of an organization Essay Example
Human Resource is the most important asset of an organization Essay Example

Human Resource is the most important asset of an organization Essay Example

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Employment, Human, Human Resources, Leadership
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According to William R. Tracey, Human Resources refers to the individuals who staff and operate an organization, rather than its financial and material resources. In today's globalized world, there has been a shift in focus within Human Resources from self-management to managing employee benefits. This change acknowledges that people are the most valuable asset of a company. They need to be recruited, satisfied in their own way, developed for greater success, and retained. Implementing a strong Human Resources system brings multiple advantages for organizations; it ensures that employees deliver high-quality services in their respective roles and enhances the organization's ability to achieve its goals while also increasing employee effectiveness.

By improving efficiency and productivity, it leads to cost savings for the organization. It also promotes equity in employee compensation and level of responsibility while helping employees unde

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rstand the connection between their work and the organization's mission and vision. This ultimately increases motivation and job satisfaction for employees. To maintain a strong Human Resource, it is crucial to prioritize rewarding benefits and recognition.

Investing in leadership for human resources and establishing a performance management system is crucial at all levels of an organization. It is also important to provide training and sustain appealing benefits and recognition, ensuring that employees feel acknowledged and rewarded for their work on a daily basis. Many organizations aim to attract and retain top talent by offering various benefits and being competitive. These rewards often include performance bonuses, attendance bonuses, long service awards, profit sharing, and end-of-year medical benefits.

Certain organizations provide additional employee benefits such as bonuses for personal grooming, paid time off, and discounts o

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purchases. Companies that offer superior employee benefits generally experience higher morale and retention rates compared to those that do not. To maximize the effectiveness of these benefits, employers should also communicate their value. Ensuring optimal managerial integration requires promoting human resources leadership at all levels of the organization.

Effective leadership is crucial in every organization to influence others within the organizational context. Managers should establish a leadership style that encourages commitment, flexibility, innovation, and change among the company's human resources. Communication of fairness and recognition of staff contributions is important for managers and leaders in all departments. Creating a positive work environment is a vital strategy for boosting employee morale. Additionally, managers should prioritize the development of new organizational structures that promote employee participation, teamwork, and personal growth. Ultimately, employees within the organization should prioritize continuous learning.

The employee plays a crucial role in supporting the establishment and maintenance of a performance management system. This system is essential for the organization's success, regardless of its mission and goals, and is overseen by the Human Resource department. When employees understand how their work contributes to the organization's success, it motivates them to be more productive.

By implementing a system that aligns strategies and operational plans with performance measures, organizations can improve individual and department performance. This leads to a more successful organization overall. Regular work planning is vital for promoting effective employee performance. It helps employees understand their objectives and assess whether they are achievable. If an employee does not meet satisfactory levels of achievement, a well-designed system provides guidelines for their immediate superior to provide skill development opportunities or corrective actions.

justify">Investing in employee training is a widespread practice for organizations globally. They allocate a substantial amount of funds and employee time to training because it enhances their employees' effectiveness and efficiency. Consequently, this leads to significant improvements in performance and directly contributes to achieving organizational objectives. The importance of employee training and development is further emphasized by factors like technological advancements, strategies for retaining employees, and the ongoing need for organizations to remain competitive in the global market.

Employee training can be categorized into two types: internal development and external development. External training involves sending employees to seminars organized by professional associations, local adult education workshops, or different in-person or online classes. On the other hand, internal training is a cost-effective method that includes structured on-the-job learning with mentor support, rotational assignments, and in-house technical presentations for employees.

A strong Human Resource department in an organization benefits both employees and the organization itself. It ensures fair compensation and responsibility levels for employees, increases their commitment to their job, and improves their understanding of how their work aligns with the organization's mission and values. This ultimately leads to increased employee satisfaction. Moreover, a robust HR department enhances the organization's ability to achieve long-term goals and improves its reputation in the market. It also boosts employee performance by effectively utilizing their skills and knowledge, resulting in cost savings through improved efficiency and productivity.

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