Assignment 5 Example | Topics and Well Written Essays - 1000 words

5 - Assignment Example † All organizations need to realize the important of human resources and the value they give to the firm via their services. Human resource functions are critical for all companies regardless of their niche or size. The employees of the organization are the main resources that execute the objectives of the firm. However, while setting a human resource unit, an organization should look at the service composition of the department. These may include payroll and tax administration, legal compliance, liability protection, negotiation of benefits, administration of benefits, acquisition of talent, hiring employees, managing performance, leadership training, attendance and time monitoring, employee development, and guidance and review on termination. All these specific functions of human resource management need to be performed in a systematic mode so that all needs of the employees are catered by the firm in a successful manner. Performing human resource management functions success fully will allow organizations to gain a strong competitive edge in the business market. According to a 2010 study by the Human Resource Professionals Association (HRPA), chief executives believe that their human resource departments are crucial components of their businesses (3). Regarding performance, the study documented that senior HR is as essential as any other organizational pillar of a company. Fifty per cent of chief executives in the study had led their companies through enormous growth from 2008 to 2010. The other half had been leaders of companies that went through severe economic challenges during the same period that led to downsizing. In the two cases, the HR department contributed significantly to the management of effective work levels. This was crucial for the resilience of the organizations during the time of turbulence ("The Role and Future of HR"). The chief executives of the companies that experienced growth, acknowledged the importance of HR in attracting tale nt. The ones from companies that downsized were of the opinion that the most critical contribution of HR was in ensuring that the communication with employees remained transparent during the difficult times. They also helped in retaining the best talent. Retaining talented employees is crucial for long term success as market is becoming competitive with every passing day. From the study, it is clear that the HR department is a business partner that has the ability to see a company through moments of great success and economic threats alike. Consequently, a weak HR department would help bring a company to an early demise ("The Role and Future of HR"). Therefore, it is important for all organizations to ensure that they have a competitive HR department to manage their human resources. How Poor, Neglected â€Å"Operations† Is in Fact the Ugly Duckling That Can Mature Into A Swan Many MBA graduates avoid working in the operations departments of organizations because they hold the se areas with a low opinion. The fresh MBAs have in mind that these jobs are done by low qualified people and hence they do not accept such offers. Most companies are out to improve their operations to attract more talent because without operations businesses cannot exist. The second part of this paper provides information on how a company can improve its operations. Over the past five years, most companies have experienced a slump in their growth. At the same time, the costs of sales and marketing have been increasing.