The importance of "Human Resources" and a discussion on "Human Resources Management"

 

Chapter 01

What is the importance of Human Resources?

• As we all know, 'Human Resources' is the main resource of any organization that makes things happen. The other resources make things possible, but for things to happen, there should be the human resource.

• In terms of achieving the specific goals of any organization, the owners or the managers of that organization should have the ability to strategically utilize the human resources of the organization.

• In other terms, among all the resources of an organization, the human resource is the only 'living resource' that can make self-owned decisions and actions to meet the common expected outcome of that particular organization. 

• We can say that one of the most important factors that determines the success of any organization is the human resources, as all the other resources in the organization are being controlled and managed through the intervention or the action of human resources. When human resources are well managed, skilled, well treated, and utilized accordingly in an effective way, they will surely bring an organization to the objective that the organization wishes to satisfy.

Watch video below to understand the importance of human resources from the view of a professional 

There are several definitions and ideas in the world about the importance of human resources, and you may refer to some of them below to make things more clear.

"Your people are your greatest resource. Treating your employees fairly and providing them with opportunities to grow will help you achieve your ideas and hit your business goals. This is something that HR is well-placed to help with."

Source :- breath,online: https://www.breathehr.com/en-gb/blog/topic/business-process/why-is-human-resources-important

The above paragraph is from the article "A Simplified Study of Definitions of Human Resource Management" written by Mr. Henarath H.D.N.P. Opatha - University of Sri Jayewardenepura, Sri Lanka.

"Human resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills that the individuals command. Similar terms include manpower, labor, labor-power, or personnel."

Source:- WIKIPEDIA - The Free Encyclopedia 

Chapter 02

The Human Resources Management & Importance

Imagine there is an organization that has a common goal of achieving a higher annual profit margin exceeding 30% when compared to the previous financial year, and all the employees in the organization work hard to reach that objective during the current financial year.

At the end, the organization reaches the objective successfully, and instead of appraising the hard-working employees and providing them benefits, the company owners grab the total profit and the credit for the success and do not provide any increments or suitable appreciation to the employees.

                                         

WHAT WOULD BE THE OUTCOME?

IS HAVING SUFFICIENT HUMAN RESOURCES BUT NOT HAVING A SUFFICIENT MANAGEMENT PROCESS OF THE HUMAN RESOURCES HEALTHY FOR AN ORGANIZATION...…..? 

LET US DISCUSS MANAGEMENT OF HUMAN RESOURCES AND ITS IMPORTANCE.

• The human resources management is a specific set of actions or a strategic approach to manage the most important resource of any organization, which is the 'human resource.' In other words, it is a broad range of activities that should be carried out by the owners or the managers of an organization to retain the most valuable asset of the organization, which is 'human resources,' while developing their skills and productivity to achieve expected organizational objectives and also to enhance the satisfaction level of human resources.

• The human resources management basically includes the recruitment, development, management, and retention of talent with the utmost desire of ensuring and securing the fact that the workforce of the organization is well established and allocated, aligned with the common goals and the final objective of the entire organization.

• The human resources management is the concept of any organization that plays a very important and viral role in producing a healthy and positive working environment for the workforce, assuring the satisfaction and well-being of the workforce, assuring the timely development of skills and abilities of the workforce, assuring the retention of the valuable workforce, and finally managing the workforce strategically to achieve the goals and objectives of the entire organization. 

• The human resources management is the main function that acts as a bridge to reduce any visible distance or gap between the objective of the organization and the capabilities of the entire workforce. With the timely changes that occur in the organization, the HRM is the main force that ensures the adaptation of the workforce towards the changes. 

• As a whole, HRM is a wide concept that administers the human resources of an organization starting from the point of recruitment until the successful retirement of the employees in the organization, ensuring that the workforce brings the ability to reach expected goals and objectives of the organization.

There are many definitions of human resources management. Mentioned below are some of them.

"Human resource management (HRM) is the practice of recruiting, hiring, deploying and managing an organization's employees. HRM is often referred to simply as human resources (HR). A company or organization's HR department is usually responsible for creating, putting into effect and overseeing policies governing workers and the relationship of the organization with its employees. The term human resources was first used in the early 1900s and then more widely in the 1960s to describe the people who work for the organization, in aggregate.

HRM is employee management with an emphasis on employees as assets of the business. In this context, employees are sometimes referred to as human capital. As with other business assets, the goal is to make effective use of employees, reducing risk and maximizing return on investment (ROI).

The modern term human capital management (HCM) is often used by large and midsize companies when discussing HR technology."

Source :- Tech target network, online : https://www.techtarget.com/searchhrsoftware/definition/human-resource-management-HRM

"Human Resource Management is the process of recruiting, selecting, inducting employees, providing orientation, imparting training and development, appraising the performance of employees, deciding compensation and providing benefits, motivating employees, maintaining proper relations with employees and their trade unions, ensuring employees safety, welfare and healthy measures in compliance with labour laws of the land and finally following the Orders / Judgements of the concern High Court and Supreme Court, if any."

source:- Human Resource, oniline : https://www.whatishumanresource.com/human-resource-management

"A distinctive approach to employment management which seeks to achieve competitive advantage through the strategic deployment of a highly committed and capable workforce, using a range of cultural, structural and personnel techniques."

(Storey, 1995, p. 5)

 

"Concerned with the employment, development and reward of people in organizations and the conduct of relationships between management and the workforce."

(Armstrong, 1999)

 

"Planning, organizing, directing, and controlling of the procurement, integration, maintenance and reproduction of human resource to the end that individual organizational and societal objectives are accomplished."

(Edwin, 1979)

 

"A managerial perspective which argues the need to establish an integrated series of personnel policies to support organizational strategy."

(Buchanan & Huczynski, 2004, p. 679)

 

"The process of acquiring, training, appraising, and compensating employees, and of attending to their labour relations, health and safety, and fairness concerns."

(Dessler, 2020)

The source & the reference :- futurelearn.com 

https://www.futurelearn.com/info/courses/introduction-to-international-human-resources-management/0/steps/95804

The HRM is one of the most important aspects of any organization, as it determines the future of the organization. Hence, HRM should be highly valued and practiced well in order to meet the goals and objectives of the entire organization.