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Global Hr Practices Essay

2620 words - 10 pages

What is Human Resource Management?Human Resource management is what people usually mistake for being a synonym of personnel management. But the fact is that Human Resource Management has a much wider scope than Personnel Management. The latter is just one aspect of the former. Singh (1992) identifies three component elements to HRM, which are as follows:•the traditional personnel management activities such as recruitment, training, remuneration, etc.•a specific managerial and organizational 'philosophy' that views people as (a) the major organizational asset, and (b) regards workers as instinctively willing and able to be developed; and•integration of the personnel management function into the strategic management of the organization.The HRM & Hospitality relationship…The hospitality industry is extremely labour-intensive and traditionally resistant to the mechanization and downsizing characteristic of other industries such as manufacturing, retailing, transportation and agriculture. Despite its recent impressive growth and financial success globally, the hospitality sector is also perhaps the most sensitive to a wide range of external and internal factors which at times threaten its very survival.As a heavily labour-intensive industry, hospitality gives tremendous opportunity to study the management of human resources within a dynamic and often volatile external and internal industrial environment.Apart from the numerous external factors such as political, economic, social, global and regional competition, guest market preferences which buffet this industry sector, there are also a number of unresolved internal dilemmas which affect the success of the hospitality sector globally. Most of these pressures impact on the effective management of a hotel's human resources.HRM: Gaining a competitive advantageCompetitiveness refers to a company's ability to maintain and gain market share in its industry. Competitiveness is related to company efficiency, which is determined by whether the company satisfies the needs of stakeholders. Important stakeholders include stockholders, who want a return on their investment; customers, who want a high-quality product or service; and employees, who desire interesting work and reasonable compensation for their services. Another important stakeholder is the community, which wants the company to contribute to activities and projects and minimize pollution of the environment. Companies that do not meet stakeholders' needs are unlikely to have a competitive advantage over other firms in their industry.Gaining and retaining competitive advantage is extremely critical to a company's growth. Although companies may pursue many paths to this end, capitalising on superior HRM is one that is not frequently recognized. Managers cite human resources as a firm's most important asset, though many organisational decisions do not reflect this belief. Currently, may companies do recognize the growing...

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