The Importance of Human Resource in an Organization

Running head: ELEVATOR PITCH
ELEVATOR PITCH
Name of the Student
Name of the University
Author Note

ELEVATOR PITCH1
Introduction
The importance of Human Resource function in an organization cannot be undermined.
The human resource department of any organization acts as a useful partner in assisting the firm
to achieve its strategic goals and objectives. Hence, the report will be discussing the importance
of Human Resource in an organization along with the different key areas of importance (Cascio
2018). The relevance of inculcating the different human resource perspectives in the ABC
insurance will be explained (Renwick, Redman and Maguire 2013). As ABC Insurance is a
service oriented business it becomes even more important to ensure that the human response
dimension of the organization is correct so as to ensure effective client relationships.
Importance of HRM to business
The HRM practices can be taken to be the meeting point of overall strategy and the
different goals of the organization. It should not be considered as a separate unit of the
organization. If a holistic view is adopted towards the organization then it can be easily ensured
that there exists no strategies which tend to keep aside the HRM policy and simply concentrate
on the overall development of the organization. Hence, it is crucial for the organization to take
the HRM policies very seriously as the future of the organization lies in the hand of the
employees. Human resource management comprises of various functions like training and
development, performance management, looking after various investments which are being
made on the employees and their return (Brewster, Chung and Sparrow 2016). Hence,
involvement of HRM needs with the overall strategy of the organization provides better results
for the organization and the organization’s ROI and turnover tends to increase.

ELEVATOR PITCH2
In the absence of a sound HRM strategy, it will become increasingly difficult for the firm
to be able to manage their employees and if the employees are not managed well, it may lead to
problems for the firm with respect to the firm`s long term objectives.
The ABC Insurance company needs to ensure that it has a sound HRM strategy in place
which will go a long way in assisting the given organization to secure competitive advantage.
Key areas
Talent management
Talent Management can be defined as the management of the abilities, competencies and
the power of the different employees in a firm. Very often Human Resource Management is
considered to be restricted to just the recruitment of the employees in an organization but in
reality it is also concerned with the exploration of the different qualities of the employees and
develop them in a manner such that the desired results for the organization is achieved. For this
purpose it is important for ABC Insurance to hire the best talent which is available in the given
industry. After the recruitment of the employee takes place it lies the responsibility of the
organization to transform them according to the given culture of the firm so that the best can be
extracting out of them.
Employees and specifically talent in an organization is often not given the relative
importance which they deserve, however, it is not the case and the employees can be taken to be
the backbone of the organization and for this reason, it becomes extremely important for them to
ensure that they are engaging in a healthy relationship with the different clients (Brewster 2017).
If the organization is unable to do harness the primary essence of the employees then they will
not be able to achieve success.