HRM 'Managing Human Resources' Assignment Example | Topics and Well Written Essays - 1750 words

HRM Managing Human Resources - Assignment ExampleThe HRM function is of particular importance in the post-industrial economy (Harris, 2003) In this emerging system, the critical factor in production has shifted from machines and equipment to the knowledge worker (Marchington, 2002). That is, redevelopment has replaced production as the driving force in the economy, and the prominent charge value is added is through the expertise of knowledge workers and the ministrations of service providers. In systems like this, it becomes even more important to obtain and use the full talents of all employees in the organization. Thus, the skilful adoption and use of HRM policies becomes a significant lever through which to move and direct the performance of the organization.As Gibb (2000) noted, HRM is really a series of insurance choices virtually how employees are to be treated, paid, and worked. These policies will in turn impact and condition the nature of the employment relationship. Diff erent policies lead to different outcomes in employee commitment, competence, and congruence with organizational goals. Likewise, each policy choice presents the ratiocination maker with a distinctive cost and benefit alternative. For example, compensation policy choices to pay either at the low, average, or high end of the labour market have rather dramatic implications for employee commitment to the organization and for costs to the employer. The fundamental rationale for effective prudence of human resources should be to identify and implement those policies, programs, and procedures that will yield the desired levels of loyalty, skill, and direction in the most efficient manner possible. In this sense, HRM offers to organizational decision makers a set of people investment opportunities. Managing human resources effectively has never been as important as it is today and will be tomorrow. In todays service economy of knowledge-based, high-discretion jobs, the commitment and c ompetence of employees can spell the difference between those organizations that win and those that are merely in the race. Establishing policies, programs, and practices that produce these results on a cost-effective basis and comply with laws and regulations is a complex undertaking. HRM can and should play a strategic role in the management of the organization. According to Chandy (2001), a large payoff of organizations have encountered severe difficulties finding military force in recent years. We have little knowledge about how organizations are coping with these difficulties and are going about hiring staff. Considering the supply/demand trends of the last few decades - when the labour market used to be a buyers market and a considerable pool of unemployed organise a buffer that could absorb cyclic fluctuations in labour demand - it is almost not astounding that most studies focused on employees job pursuit activities. (Chandy, 2001, pp 403-405) Research on the theoretical and empirical facet of organizations behaviour to find appropriate staff, has studied first and foremost the selection behaviour how to select personnel from a group of applicants. Nearly all vacancies are filled from a group of applicants that is created soon after posting the vacancy. On account of the economic elaboration of the first