24/7 writing help on your phone
Question: Write a short essay that discusses the following statement, using references and examples to support your answer. “Human Resource (employees) is the most important asset of an organization. Throughout the years, the importance of employee have increasingly emphasized in organizations. With today’s workforce becoming increasingly diverse and organizations doing more to maximize the benefits of the differences in employees, Human Resource managers are evolving from the old school side-line player to the front-line fighters.
Organizations are relying on managers to get the people who get the job done, and of course, make the company money.
An organization’s success increasingly depends on the knowledge, skills, and abilities of its employees. Particularly as they help establish a set of core competencies which distinguish one organization from its competitors. When employees’ talents are valuable, rare, difficult to imitate and organize, an organization can achieve a sustained competitive advantage. In Singapore, where there are no natural resources, human capital is one of the main resources that the country depends on to attract foreign investors.
In 1965, Singapore was officially separated from Malaysia. This called for internationalization for almost all of its economic activities, boosting Singapore’s economic growth. In the late 1970’s, after the oil crisis reduced recession, the Singapore see a need for greater selectivity in the industries it promoted to achieve more efficient labour usage. Educational in schools and training programs was introduced at that point of time to equip our workforce with the right kind of competencies to ensure that they will be an asset to the organization, producing greater output for the company.
Suresh Natarjan ; Juay Miang Tan, 1992). In the 21st century, training is still the key in Singapore and the government is investing over $2. 5 billion over five years in continuing education ; training as it believes that only by equipping our worker with the right knowledge and skill-sets, it will cause the worker to be more productive, increase in wages and have a better career prospect. (Radha Basu, 2010). The government sees how much difference a trained employee would bring about changes in the organization compared to a non-trained employee.
Organizations are also in supportive of the government policies by sending their employees to upgrade the important as they recognize them as an important asset that can bring changes in the company. From the above data shown, I concluded for over 20 years, Singapore has been experiencing tremendous amount of growth in our economy, it allows our country to transform into a place with diverse and creative workforce which lures MNCs to set up a base in the country where they can oversee their operations in the Asia region.
One of the main strategies that Singapore implemented is to continuously invest in our workforce, equipping them with the right skills, abilities and knowledge which will cause the worker to be more productive in an organization, an example of an organization which facilitates that process is Singapore Work Development Agency (WDA) and Singapore Workforce Skills Qualifications (WSQ). With the government sponsoring the upgrading of workers, MNCs are very supportive of the government decision to upgrade their labour force.
As mentioned earlier, Singapore is a country where its labour intensive, producing competent workers will directly lead to an increase of revenue in an organization. This shows how important an employee in the organization as billions of dollars are being invested into training them. Hence, an employee is definitely an asset in an organization as an employee with the correct training provided, can transform into a competent worker with the right abilities, skills and knowledge which will give an organization a competitive advantage.
Motorola offers off and on-site job classroom education and training and structured training for the employees for all level of the organization. Many of these education and training initiatives serves as the best practices against other organization. Thus Motorola provides an early and influential example of using HRD to help in the business objectives. (Torraco, Richard J, Swanson, Richard A, 1995).
This was one of early initiatives by an organization that successfully utilized a HR department to maximise the potential of the employee, making it an invaluable asset to the company which allows Motorola to gain a competitive advantage at that time. Most importantly, Motorola understands the importance of how an employee can make a difference in achieving its business objectives and invested on the employee at that point of time.
Today, in most established organization, HRM is one of the areas that contribute to the success of the organization. The main function of a HR department is to manage the people in an effective way to gain more productivity. This can be done through coming out with guidelines for recruitments that align with the company’s objectives. Providing training for the employees to better equip them with skills and knowledge, this will lead to an increase in productivity in their work.
In summary, a Human Resource department is established in any company to source for suitable employees for an organization and to ensure that employees well-being are taken care of to reduce the overall turnover rate. My essay is focused only on organization in Singapore; it contains deep analysis of practices that Singapore government and MNCs implemented that suggested that “employees is the most important assets in an organization”.
I believe that organizations in Singapore places great emphasis on our employees as large amount of money is invested on the labour force every year, ensuring that the employees employed will be a valuable asset for the organization. MNCs created HR department to ensure that the employees are being trained to keep up with the rapid economic growth and to facilitate the process of recruitment to ensure that the right person is being employed to sustained competitive advantage in the market.
References * Suresh Natarajan, Juay Miang Tan, (1992) The impact of MNC investments in Malaysia, Singapore ; Thailand, Singapore, Spectrum Press Pte Limited. * Radha Basu. 2nd april 2010, Training workers to move up value chain, AsiaoneBusiness, http://www. asiaone. com/Business/News/Office/Story/A1Story20100331-207739. html [1st Dec 2011] * Torraco, Richard J, Swanson, Richard A, (1995), The strategic roles of human resource development, HR. Human Resource Planning, Vol. 18, Iss. 4.
👋 Hi! I’m your smart assistant Amy!
Don’t know where to start? Type your requirements and I’ll connect you to an academic expert within 3 minutes.get help with your assignment