HOW IS HRM INFLUENCING IN A COMPETITIVE WORLD
SUBMITTED TO:MS SALEHA HAROON
"In a global competitive world, you gotta win. When you win, you give back."
~ Jack Welch~
Human Resource management or the personnel management, in a sense means getting things done by its people. It is an essential role that is eventually played by every manager. HRM is basically about how one manage its people in a effective way in order to gain more productivity and HR means ‘human resource’ that show the people viewed as a resource in an organization, if effectively managed can bring productivity and can be a competitive advantage for an organization. Before putting ...view middle of the document...
(Kurzweil, Ray, 2005). These rapid changes have brought both negative and positive effects on employees and organization, for instance, in today’s world where uncertainty is on its peak, many employees have fear of job losses and the fear that they do not have kind of life or retirement for what they had hoped for, and there are job that once motivated employees are no longer enough because people want more out of life and out of their job. (Alvin Tofler 1970).
In this 21st century, employees are the major cost and value building factor. In most companies, whether service or product, employees are the major source of revenue, sales and earnings. So here HRM plays a vital role because a company’s ability to attract, retain and develop good employees is the most distinct factor in this competitive economy, such employees add to productivity and innovation. (Michaels Ed, 2001)
For HR professionals, the new century will take up where the old one left off - with the struggle to recruit and retain a trained, satisfied workforce. Recruiting will continue to be a key issue; the search for people with the proper experience is making HR a primary, critical factor in a company's competitive position. “One dot-com executive said the focus on recruiting is the number one business strategy," he says. So the HR professional must have the best practices to create, retain and attract qualified and talented people. (John Challenger, Gray & Christmas, 2004)
Challenger expects HR using best practices to create an environment that attracts people and makes them want to stay. As in the article states that "HR will be tailoring the softer benefits. Instead of stock programs, they will listen to individuals and give them access to things that work for them, that make the environment their kind of place. For one person that might mean coming in at 10 a.m. so that they can see the children off to school. For another person it might be tuition support." (John challenger 2004)
In order to keep good people or employees businesses need commitment form their employees, it enables the companies to realize the potential of its people. In today’s world commitment is so important, because it is becoming so hard to replace key people and commitment is perceived as business necessity. (O, Malley, Michael 2004)
There is a connection between employee’s commitment and motivation. As for motivation to exits employees must be committed, it should have the particular abilities to act and understand what must be done. It has been observed that employees with high level of motivation are 150% more productive than those with medium level of motivation. (Cox & rock 2004)
If you ever ask from HR head of large organization about what is his biggest challenge, he will probably say ‘retention of people’. The same person after few hours with the same question will answer that ‘attracting talent’. Probably on the next day he will say ‘retention of people’. Different answers from the same...