Human resource is one of the competitive advantages among the production resources of the organizations. As such this is the only resource that has the ability to gain knowledge, skills, and get motivated. This is the only resource that has the capacity to get enhance their abilities (under right conditions) with the procurement of knowledge and experience for the betterment of an organization. It is therefore regarded as the scarcest and most crucial productive resource that creates the largest and longest lasting advantage for an organization. Human resource is the least mobile of the factors of production, which are operated in an organization. They makes possible for an organization to utilize the other physical resources (land, machinery,
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As because of dynamic nature of today’s scenario, the change in economic environment reflects changing customers and investors demands, ever increasing product-market competition. To make the survival possible in that environment, the organizations continually need to improve their performance by reducing costs, innovating products and processes and improving quality, productivity and excess to market. The manpower considered to be one of the most important resources, which facilitate the organization with their efficiency and experience. Human resource is the only factor of production which provides with the quality of skills, commitment and motivation. This makes possible by enhancing and developing the inherent capabilities of people - their contributions, potential and employability - by providing learning and continuous development opportunities to satisfy the future people needs. Up to some extent, same level of organizations success or failure depends upon its manpower which is acquired, developed and maintained by the organization. …show more content…
This strategy appraises individual and team performance to make the coordination between individual innovativeness and company profitability.
Reward systems, this includes providing the personnel with the free environment which encourages them to initiate and contribute towards the organizational goals. This strategy uses rewards i.e., monetary or non-monetary to motivate employees to contribute towards organizational goals.
Career management, this includes career planning and succession planning. Here career planning means manpower of an organization should be presented with the opportunities for career ahead so that they remain in an organization and serve the organization with their experience as an asset of an organization. This strategy uses a practice of who could succeed in case of any major developments leading to retirement, death, resignation of existing employees.[4]
II. OBJECTIVES OF THE
As because of dynamic nature of today’s scenario, the change in economic environment reflects changing customers and investors demands, ever increasing product-market competition. To make the survival possible in that environment, the organizations continually need to improve their performance by reducing costs, innovating products and processes and improving quality, productivity and excess to market. The manpower considered to be one of the most important resources, which facilitate the organization with their efficiency and experience. Human resource is the only factor of production which provides with the quality of skills, commitment and motivation. This makes possible by enhancing and developing the inherent capabilities of people - their contributions, potential and employability - by providing learning and continuous development opportunities to satisfy the future people needs. Up to some extent, same level of organizations success or failure depends upon its manpower which is acquired, developed and maintained by the organization. …show more content…
This strategy appraises individual and team performance to make the coordination between individual innovativeness and company profitability.
Reward systems, this includes providing the personnel with the free environment which encourages them to initiate and contribute towards the organizational goals. This strategy uses rewards i.e., monetary or non-monetary to motivate employees to contribute towards organizational goals.
Career management, this includes career planning and succession planning. Here career planning means manpower of an organization should be presented with the opportunities for career ahead so that they remain in an organization and serve the organization with their experience as an asset of an organization. This strategy uses a practice of who could succeed in case of any major developments leading to retirement, death, resignation of existing employees.[4]
II. OBJECTIVES OF THE