Human Resource Is The Most Important Asset Of An Organization
Introduction
In this fast moving day and age, organizations place emphasis on having that competitive advantage above all others in the market. The important elements that contribute to this added advantage stem from technology, marketing strategy, excellent customer service and many more. However, human resource is still the most important element/asset in an organization that links back and is the core to those elements mentioned. The success or failure of an organization is largely dependent on the calibre of the people working therein. Bontis et al (1999) suggests that undeniably human resource in the organization is the combination of knowledge, intelligence, skills and expertise which provide each organization with its distinctive character. Furthermore, to ensure the long-term survival of an organization, it is through proper motivation that encourages human resource, change, innovation and the capability to learn. We will discuss further the importance of human resource, how it can impact an organizations performance as well as certain strategies organizations can implement to address this issue.
The Importance of Human Resource
The abilities of human resource can’t be replaced by any machine and is largely linked to an organization’s profitability. They are also regarded as the prime asset of each organization and businesses need to invest into it to ensure their survival and growth. Organizations have to ensure that they obtain and retain a committed, well-motivated and skilled team. By providing opportunities for learning and continuous development, organizations will be able to address and grow future talent as well as develop the inherent capacities of each individual. Armstrong and Baron (2002) states that the many organizations are recognizing the fact the it is the people coupled with their individual skills, knowledge and experience that play a significant part in the involvement of providing organizations with the competitive
In this fast moving day and age, organizations place emphasis on having that competitive advantage above all others in the market. The important elements that contribute to this added advantage stem from technology, marketing strategy, excellent customer service and many more. However, human resource is still the most important element/asset in an organization that links back and is the core to those elements mentioned. The success or failure of an organization is largely dependent on the calibre of the people working therein. Bontis et al (1999) suggests that undeniably human resource in the organization is the combination of knowledge, intelligence, skills and expertise which provide each organization with its distinctive character. Furthermore, to ensure the long-term survival of an organization, it is through proper motivation that encourages human resource, change, innovation and the capability to learn. We will discuss further the importance of human resource, how it can impact an organizations performance as well as certain strategies organizations can implement to address this issue.
The Importance of Human Resource
The abilities of human resource can’t be replaced by any machine and is largely linked to an organization’s profitability. They are also regarded as the prime asset of each organization and businesses need to invest into it to ensure their survival and growth. Organizations have to ensure that they obtain and retain a committed, well-motivated and skilled team. By providing opportunities for learning and continuous development, organizations will be able to address and grow future talent as well as develop the inherent capacities of each individual. Armstrong and Baron (2002) states that the many organizations are recognizing the fact the it is the people coupled with their individual skills, knowledge and experience that play a significant part in the involvement of providing organizations with the competitive
References: Reynolds, J, Caley, L and Mason, R (2002) How Do People Learn?, London: Chartered Institute of Personnel and Development Bibliography Denton, R., Goldman L., Graham, M., Reilly, C., and Twardak, M.A. (2004). ‘Human Resources Your Most Valuable Assets’, [Internet]. Available from: http://www.iltanet.org/WhitePaperPDFs/HumanResources.pdf [Accessed 18 May 2014]. Upson, M. (2011). ‘What is Strategic Human Resource Management?’ [Internet] Available from: http://www.wisegeek.com/what-is-strategic-human-resource-management.htm [Accessed 18 May 2014] Oswin, J Borthwick, F. (2011), ‘People can be an Organizations Core Competence’ [Internet] Available from: http://www.academia.edu/1147775/HUMAN_CAPITAL_IS_AN_INPORTANT_FACTOR_FOR_THE_SUCCESS_OF_AN_ORGANISATION [Accessed 20 May 2014] Adelman, F