The skills, knowledge and experience of each individual contribute to the growth of organizations, communities and nations. Such valuable human talent can be thought of in terms of human capital and is one of the primary requirements for national economic development. 138
Strategic human resource management is playing an important role as organization development in today’s competitive market. Organizations recognise the importance of focusing on the human factor to contribute ideas in order to improve the productivity. They design the recruiting plan to approach talent peoples, training and develop them in order to perform those competencies. The organization put in affords to meet the expectation of the employees so that create a workplace atmosphere among the employees (Upson, 2011).
Ironically, while human resources are the most important asset in an organization, they are also the cost involved during the training activity. As is stated by Outlow (1998), the organization suffers the cost if they employed the wrong candidate for the job. Such costs can be calculated in direct and hidden cost. Direct cost can be considered as recruitment advertisement, conduct new training for new staffs, medical check up and so on. Also, the company will found the hidden cost in such that way of lower morale among old employees. Some... [continues]
Cite This Essay
(2011, 06). Human Resource Is the Most Important Asset of an Organization. StudyMode.com. Retrieved 06, 2011, from http://www.studymode.com/essays/Human-Resource-Is-The-Most-Important-711810.html
"Human Resource Is the Most Important Asset of an Organization" StudyMode.com. 06 2011. 2011. 06 2011 <http://www.studymode.com/essays/Human-Resource-Is-The-Most-Important-711810.html>.
- MLA 7
"Human Resource Is the Most Important Asset of an Organization." StudyMode.com. StudyMode.com, 06 2011. Web. 06 2011. <http://www.studymode.com/essays/Human-Resource-Is-The-Most-Important-711810.html>.
"Human Resource Is the Most Important Asset of an Organization." StudyMode.com. 06, 2011. Accessed 06, 2011. http://www.studymode.com/essays/Human-Resource-Is-The-Most-Important-711810.html.