Labour Welfare Measures Among Construction Workers an Evaluation
Introduction
When we say a particular country is economically developed, three determinants come to our mind, i.e., human, physical and financial. Out of these important resource factors, human resource factor appears to be the most strategic and critical. This is true because a country may possess abundant natural and physical resources and the necessary machinery, equipment and capital, but if there is no man power to use these resources, growth is not possible. Similar to ‘Physical capital formation’, ‘human capital formation’ is a necessary prerequisite for economic growth.
At present the focus is on how to build ‘human capital’. There are various reasons for such awareness. The first and foremost is the economic growth of a country which is attributed to human skills rather than to capital. Second reason is that investment in human resources, contributes to economic development and growth, by promoting the knowledge and application of science and technology to production processes. Third reason is that it is one of the major objectives of the country. It is a established fact that like plant, machinery and other physical assets, human beings are also an important factor in production. Investment in developing people as a resource is productive and income generating as are other physical assets and inventories. In order to make an organization successful, it is necessary to make the people capable. It is human resource which gets the people in the organization and also enables them to acquire the required capability and motivate them for running the organization successfully. What after all is human resource, it is nothing but people having the required skills to make the organization successful. In today’s competitive environment companies treat their employees as a valuable asset, there by generating commitment and involvement. The company’s open door policy encourages employee involvement in the decision making process. Human beings form
When we say a particular country is economically developed, three determinants come to our mind, i.e., human, physical and financial. Out of these important resource factors, human resource factor appears to be the most strategic and critical. This is true because a country may possess abundant natural and physical resources and the necessary machinery, equipment and capital, but if there is no man power to use these resources, growth is not possible. Similar to ‘Physical capital formation’, ‘human capital formation’ is a necessary prerequisite for economic growth.
At present the focus is on how to build ‘human capital’. There are various reasons for such awareness. The first and foremost is the economic growth of a country which is attributed to human skills rather than to capital. Second reason is that investment in human resources, contributes to economic development and growth, by promoting the knowledge and application of science and technology to production processes. Third reason is that it is one of the major objectives of the country. It is a established fact that like plant, machinery and other physical assets, human beings are also an important factor in production. Investment in developing people as a resource is productive and income generating as are other physical assets and inventories. In order to make an organization successful, it is necessary to make the people capable. It is human resource which gets the people in the organization and also enables them to acquire the required capability and motivate them for running the organization successfully. What after all is human resource, it is nothing but people having the required skills to make the organization successful. In today’s competitive environment companies treat their employees as a valuable asset, there by generating commitment and involvement. The company’s open door policy encourages employee involvement in the decision making process. Human beings form
References: 1. Elaine Farndale, Jaap Paauwe, Shad S. Morris, Gunter K. Stahl, Philipstiles, Jonathan Treror and Patrick M. Wright, “Context – Bound configuration of corporate HR functions in Multinational corporations” (2010), Human Resource Management, vol. 49 2. Stephen A Stumpf, Jonathan P. DOH and walter G Tymon Jr., “The strength of HR practices in India and effects on employee career success, performance and potential” (2010) Human Resource Management,vol: 49. 3. Stephen P. Robbins / Mary Coulter Neharika Vohra, Management, Pearson.