Essay on Human Resource Management At The 21st Century Business Arena

705 Words Aug 31st, 2015 3 Pages
The 21st-century business arena is characterized by high competition and tumultuous market trends. And yet, to remain relevant and sustainable in a highly competitive free market economy, business is expected to craft an edge in whichever niche it operates. At this point, employees and how you manage them becomes critical towards realizing organizational objectives. Human resource management (HRM) has the obligation to plan, execute, hire and take control of the staffing process. Moreover, the HRM is also required to ensure professional growth of employees and company development schemes for a firm. However, the most critical responsibility of the HRM is to enhance the company 's output, boost employees ' efficacy, and assure them favorable working conditions as well as dignified payment (Anthony & Govindarajan, 2001).
Essentially, the HRM is all about promoting personal growth, employee satisfaction and the adherence to employees related regulations. As businesses expand, the management often hires employees to assume various everyday tasks like production, accounting, client services and sales. While individual organizations pay employees a basic salary, others offer handouts that escalate or de-escalate employee remuneration based on performance. Each remuneration strategy has its pros and cons. This paper examines the human resource management woes at Hana Bank while making proposals for the best action and implementation plan to mitigate the problem. In the end,…

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