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The Important Of Human Resources Essay

2109 words - 8 pages

Managing People AssignmentGroup Members: Ngoo Wei Kee (99208014)Tan Sook Yee (99208156)Tan Jiak Kin (99208160)Question Answered: Number 1Due Date: 19th July 2004Lecturer: Mr. Michael ChewHuman resource (HR) plays a critical function in achieving organizational excellence, for it is with and through people that organizations thrive, prosper and transform. Leaders and professionals within HR units have never been better positioned for strategic leadership within their organizations due to the growing awareness of the value of human capital (knowledge) as a competitive advantage. It is human and intellectual capital that leverages all other forms of intangible corporate assets (e.g., R&D and Customer Service).Today more than ever before, HR departments need to show value to their organizations by aligning their goals and activities with the strategic goals of the larger enterprise. Our knowledge-based economy, ever-changing market, competitive threats, and consumer needs require the optimal leverage of human talent and potential. A successful company achieves client satisfaction, provides technically sound and good quality products and services, and maintains a supportive and rewarding working environment for its people. The key to accomplishing all three of these corporate objectives begins and ends with excellent "human capital."Contemporary questions in the minds of many line executives and leaders in HR include where do we wisely invest our current HR dollars and what types of activities should HR personnel be engaged in so that there is a long-term, strategic benefit to the organization? Is it wise to outsource some HR functions; if so, which ones are candidates for outsourcing and what are the implications for doing so? How do we show a return on our investments for programs and processes that focus on intangible assets so that we can gauge the utility of our HR effort? What programs can be developed today that will have substantial benefit tomorrow? How can this benefit be shown to senior executives in terms of bottom line contributions?However, all these can be solved by understanding what the organization's business strategy and goals are, and identifying as well as promoting or developing the skills and knowledge needed to execute these with success. In addition, provide direction for, and integrating into the organization, HR processes including recruitment, selection, rewards, development, and succession. Focusing leadership and employee development efforts on high priority business objectives and also building strategic customer relationships so that relevant and value added HR solutions are provided with consistency, efficiency and impact.Driven by the new economy, company's competitive landscape is changing rapidly. Global expansion, high-speed delivery of products and services, technical advances, and redefined business models represent changes that this new economy has introduced. Organizational is beginning to realize that the...

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