In today’s corporate environment, there is little room for managers to become nonchalant about their critical role in an organisations growth and development. Human Resource Management (HRM) is an innovative concept that is being employed by businesses all over the world as a measure to remain competitive, or achieve greater competitive advantage, in their respective industries. This essay will discuss what HRM is generally thought to be and involve, and why it is so essential at this point in time for organisations to adopt as an essential part of their business strategy. Employee motivation is a critical aspect of HRM as it relates to employee performance and therefore overall organisational performance. The hardships faced by managers when trying to implement strategies for employee motivation will be observed, as will the strengths and weaknesses of some possible approaches to obtaining and maintaining a motivated workforce.
The Importance of HRM.
Many organisations have observed the growing need to implement good HRM practices that are continually updated and improved. Broadly defined, “HRM refers to activities undertaken to attract, develop and maintain an effective workforce within an organisation” (Samson & Daft, 2005). When we break down this definition into its key elements, it can be seen that HRM is extremely complex and involves many dimensions including, but not limited to, competitive pressure, changing social contract, the labour market, new ways of working and stakeholder engagement (Barsky, 2006, Lecture 7). These elements all play a major role in determining how effective an organisation is in its respective field and how it reacts to
References: Barsky, A., (2006). Managing People and Organisations, Lecture 7, The University of Melbourne. Colvin, G. (Aug 1998). What Money Makes You Do. Fortune. Vol. 138, Iss. 4; p213. Delaney, J.T., Huselid, M.A. (1996). The Impact of Human Resource Management Practices on Perceptions of Organisational Performance, Academy of Management Journal. Hersey, P., Blanchard, K.H. (1977). Management of Organisational Behaviour: Utilising Human Resources, 3rd ed., Prentice-Hall. Hofman, M. (1998, July). Everyone’s a Cost Cutter. Inc., p116. Kramer, R., McGraw, P., Schuler, R.S. (1997). Human Resource Management in Australia, 3rd ed., Longman. March, J.G., Simon, H.A. (1958). Organisations. New York: Wiley. Samson, D., Daft R.L. (2005). Management, 2nd ed., Thomson. Wallace, M.J., Szilagyi, A.D. (1982). Managing Behaviour in Organisations, Scott, Foresman and Company. Way, N., (2004, 2-8 September). Feds Democratic Revolution, Business Review Weekly. Whitford, D. (1995, June). Before & After. Inc., pp. 44–50.