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Managing human resources assignment pdf

   

Added on  2021-04-17

13 Pages3538 Words31 Views
Running Head: MANAGING HUMAN RESOURCESManaging HumanResourcesManufacturingsector

MANAGING HUMAN RESOURCES 1Heavyweight component of any organization is the workforce it is working with and this makes employees the biggest asset of any organization working in manufacturing sector. Production of good results for the business, meeting organization’s financial goals or achieving its goals is not possible without employees[ CITATION Fra14 \l 16393 ]. Today many organizations of manufacturing sector recognize their employees’ importance while realizing the business success of their organization. An organization making good profit may have the strongest edge, in terms of funding, technology, market position, but importance of the respective roles and responsibilities of their strong workforce cannot be underestimated orneglected. Without the contribution of employees no organization can achieve its business goals or objectives especially in manufacturing sector[ CITATION Has09 \l 16393 ]. Today unwanted employee turnover is the most costly business issue companies are facing continuously in this sector. Besides the loss of costly knowledge of employee when employees leave the company, some extra efforts are required to re-organize company’s resources to meet the desired goal. Leaving of employees may cause increased work pressure,agony to the management; demotivation to the other employees, and sometimes in extreme cases organization may also fail in achieving its goals or objectives. In order to get a new replacement of the employee left the organization some extra efforts along with the substantial cost and resources too[ CITATION Ric01 \l 16393 ]. In manufacturing industry organizations hire new employees and trained them to work with the advanced technology and improve their efficiency as well. After some time when these new employees get complete knowledge of operating with new technology and dealing with basic issues of manufacturing they seek for high payment, job satisfaction, efficiency enhancement training, motivation, and financial stability. And seeking for all these expectation they made a move and leave the company in order to join another one which is

MANAGING HUMAN RESOURCES 2fulfilling all or some of their expectation. This is becoming the critical issue for organizationsworking in manufacturing sector[ CITATION Tan14 \l 16393 ].This increasing issue in the industry is making human resource management to worry about the challenges of finding and retaining the employees in this tight labour market situation. In local context the voluntary turnover of employees has risen to 32% in Australian organizations. Many studies or researches have shown that there are many factors making employees unhappy and resulting in leaving the company. There are seven major factors or reasons for leaving the company by employees[ CITATION Ric01 \l 16393 ]. These reasons are as, low payment, unsatisfactory jobs, limited career development opportunities, lack or recognition, untrustworthy leadership, dysfunctional culture at work place, and poor management. All these factors are closely related to the HRM practices therefore a better understanding of the relation between HRM practices and employee retention will correct thedecision making of leaders to achieve organization goals. It is crucial for organization to ensure that the resources of the organization are spent wisely and correctly to sustain a harmonious and safe workplace. Such work place environment encourages employee to stay employed in the same organization for a longer time period. In this way making such efforts will contribute in leading the business for making good profit and also helps in providing career development opportunities for the existing employees[ CITATION Bra12 \l 16393 ]. Employee retention in such situation refers to several practices and policies which encourage the employees to stay employed in the organization for a longer time period. Manystudies conducted to understand the main reason of an employee’s leaving the organization has reported that employees leave the organization out of frustration and dissatisfaction with the job. This dissatisfaction is due to the continuous friction with their leaders or colleagues. In some of the cases lack of career growth, low salary package, and lack of motivation leads the employees to leave the company to look for a change[ CITATION Cul14 \l 16393 ].

MANAGING HUMAN RESOURCES 3Therefore, management has to give its best to retain those employees who are important for the organization. For being employed in the same organization people need a feeling of their important contribution for the success of organization. This feeling motivates them to stay loyal for their organization and results in making them employed in the same organization fora longer time period. This feeling of contributing for the company creates a new feeling of being a part of the organization. Competitive salaries, incentive programmes, comprehensive benefits, and other similar initiatives need to be executed to improve the retention of employees within the organization. Besides all these, financial incentives and payment of the employees also enhance the satisfaction and commitment of employees with the organization[ CITATION Cul14 \l 16393 ]. Such practices are an important part of human resource management practices. Human resource management practices is defined as a complete set of different strategies and policies implemented by the organization in order to ensure the efficient and effective contribution of organization’s human resources to achieve the goals or objectives of the organization. Human resource management practices are recognised as the main source of revenue for the business, at organization level. This is considered because some human resource management practices like, strategic HRM, analysis and design of work, managing diversity and work-life balance, performance management, learning development and career management, motivation, rewards and compensations are some of the practices considered as the foundation strategies of an organization to get talented an skilled workforce[ CITATION Fra14 \l 16393 ]. Such practices produce a workforce which significantly enhances the productivity and creativity of the organization. Strategic human resource management practices to enhance the important contribution of human resource management for the better performance of organization in terms of productivity, employee turnover, and financial turnover or revenue. As an integral of organization’s strategic processes, main focus of HRM

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