Discuss about the Foundation of Human Resource Management for Economics Research.
Human resources are considered as an important asset to the company. Without them, it is difficult to conduct the activities. In the present situation, there are many companies who are focusing on achieving competitive advantage and it can be seen that by considering the human resources they can achieve goals and objectives. If human resources are not there in the company then it can be difficult to complete the activities or the operations. Human resources are basically the employees who conduct the assigned task given by their managers. Human resource helps to determine the failure and success of the company. Without assistance, the company daily operations functions will not be completed on time.
Human resource is related to the overall profitability of the company and also their ability they are also replaced by machines (Cascio, 2018). Humans manage the functions of the business like cash flow, business transactions, dealing with customers and many others. It has been seen that the potential which is possessed by the individual helps to drive the activities in a right manner. In the recent situation related to the organization, it has been analyzed that changes are taking place on a continuous basis. In order to increase the overall effectiveness of the organization, it is important to manage time, talents and also the capability of an individual (Armstrong and Taylor, 2014). Human resource management works to ensure that workers are able to accomplish the goals of the company. Human resource management is responsible for how the employees should be treated in the company. It is important to bring people into the company and help them to conduct the activities in a proper manner.
The activities of the employees are managed by the human resource managers. The responsibility of a human resource manager is to focus on the activities and give them instructions accordingly. If the employees are not able to accomplish or achieve the goals hen direction or instruction is given by the manager which help them to complete the task with efficiency (Stanko, Zeller and Melena, 2014).
It has been seen that human resource manager takes into consideration all the responsibilities which focus on managing and maintaining the activities of the company. The matter related to administrative issues or any other actions are taken into consideration by the human resource manager so that positive results can be achieved (Marchington et al., 2016).
It has also been seen that human resource manager focuses on giving guidance and direction to compensation and benefits. Proper strategic compensation plans are made which help to manage the performance of the employees. Human resource manager also focuses on managing the relations so that positive environment can be created in the environment. There are various challenges that are faced by the human resource managers in the workplace (Bamberger, Meshoulam and Biron, 2014).
The first challenge is related to attracting the top talent candidates. It has been seen that the human resource manager has to face the problem related to recruiting. To attract and retain the best candidates take time. To select the candidate for the right job it is important to analyze the requirement of the job and the company (Purce, 2014). The job roles and expectations keep on varying and also the culture of the company keep on adapting. This enhances more difficulty for the human resource manager. This is one of the biggest challenges which are faced by the human resource manager. In this case, the company should focus on the best strategy which is related to find out the market where vacancies should be made. It is essential to consider the platforms that can help to find out the targeted employees ( Bratton and Gold, 2017).
The right candidate should be attracted and also it is important to focus on the skills, industry and job level. If the right candidate is selected then workload reduces in the step of screening. Screening of the candidates should be done and also focus should be given to finding the eligible criteria. It is important to focus on the qualities of their learning capacity an also their knowledge towards the latest technologies. If the focus is given on these qualities then it can be easy for the company to achieve goals and objectives. It will also help the human resource manager to select the candidate who is eligible for the job. Through this method, it can be easy to select a right candidate at the right place (Porter and Kramer, 2018).
Next challenge is related to the change. At the time of implementing change in the company, the human resource managers have to face a major challenge. It has been seen that employees get affected with the change implemented by the organization. It gives direct impact on the overall productivity and profitability. It is the responsibility of the human resource manager to implement the change in such a manner that it is accepted by every employee of the organization (Storey, 2014).
In this context, the best strategy that should be taken into consideration by the company is communicating with the employees. It is important to communicate the change at the time of implementing in the organization. The views and opinion should be taken so that employees can feel good and can accept the change in a proper manner. If a discussion is made with the employees then it can be simple to implement change and through change, it can be possible to achieve a positive outcome. Therefore, it is important for the human resource manager to discuss the change before implementing the company and if they are satisfied then only it should be implemented. Training can also be the best option that can be implemented as it can help the employees to accept the change which takes place in the workplace (Isiaka e al., 2016).
To manage diversity in the workplace is also the major challenge faced by the human resource manager. It has been evaluated that there are different employees who belong from a different background, so the human resource manager face issue to manage the people of different backgrounds. So, in this case, it is essential to consider the policies and procedures so that diversity can be maintained in the workplace. It is important for the human resource manager to focus on the creating a comfortable workplace for the employees and it can be done by cultural awareness programs. This program will help the workers to analyze the benefits related to diversity and also better ideas and innovations can be gathered (Greene and Kirton, 2015). By considering the approach of team building it can be easy for the human resource manager to integrate the employees who are from different cultures and unite them towards a common goal.
Next challenge is related to creating quality employee experience. It has been seen that human resource manager has to face a challenge in creating good employee experience. It is uncommon to search the high staff turnover in today scenario. But human resource face issue to hire the capable employee who can create a good environment.
It has been seen that if workers are satisfied with their job then it can be easy for them to conduct the activities in a proper manner. It is important for the human resource managers to give focus on the technique of motivation so that they can be motivated towards the activities of the company. The experience of the employees should be enhanced so that activities can be conducted smoothly (Jackson, Schuler and Jiang, 2014). It is important for the human resource manager to emphasize on giving online training, gym facilities and also other incentives so that they can be motivated and can be happy in conducting the activities. It will help the manager to create a culture which is inspiring. If the environment or the culture of the company is inspiring then it can help to achieve the target of the company.
Last challenge faced by the human resource manager is related to adopt the innovation methods. The managers try to enhance innovation and creativity in the employees but the employees do not give more focus on innovation. So, in this case, the managers should conduct a contest in the workplace so that innovation and creativity of the employees can be enhanced in the workplace.
Therefore, by analyzing the paper it can be concluded that there are five challenges faced by the managers. The discussion is made of the challenges which are related to attracting the top talent candidates, change, diversity, innovation and creating a quality environment. Also, each point of the strategies are also explained which will help the human resource manager to control and manage the challenges. It is important to reduce the challenges faced by the employees as it can help in achieving a large market share in the competitive environment.
References
Armstrong, M. and Taylor, S., 2014. Armstrong’s handbook of human resource management practice. Kogan Page Publishers.
Bamberger, P.A., Meshoulam, I. and Biron, M., 2014. Human resource strategy: Formulation, implementation, and impact. Routledge.
Bratton, J. and Gold, J., 2017. Human resource management: theory and practice. Palgrave.
Cascio, W., 2018. Managing human resources. McGraw-Hill Education.
Greene, A.M. and Kirton, G., 2015. The dynamics of managing diversity: A critical approach. Routledge.
Isiaka, S.B., Aliyu, M.O., Abogunrin, A.P., Aremu, N.S. and Abdullah, A.S., 2016. A Conceptual Analysis of Global Human Resource Practices: Challenges and Prosp. Covenant Journal of Business and Social Sciences, 7(1).
Jackson, S.E., Schuler, R.S. and Jiang, K., 2014. An aspirational framework for strategic human resource management. The Academy of Management Annals, 8(1), pp.1-56.
Marchington, M., Wilkinson, A., Donnelly, R. and Kynighou, A., 2016. Human resource management at work. Kogan Page Publishers.
Porter, M.E. and Kramer, M.R., 2018. Creating shared value. In Managing Sustainable Business (pp. 327-350). Springer, Dordrecht.
Purce, J., 2014. The impact of corporate strategy on human resource management. New Perspectives on Human Resource Management (Routledge Revivals), 67.
Stanko, B.B., Zeller, T.L. and Melena, M.F., 2014. Human asset accounting and measurement: Moving Forward. Journal of Business & Economics Research (Online), 12(2), p.93.
Storey, J., 2014. New Perspectives on Human Resource Management (Routledge Revivals). Routledge.
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