Is the Most Important Asset of an Organization

Question homo resourcefulnessfulness (employees) is the most important asset of an transcription. inception Traditionally, gay resource focused mainly on administrative functions and process force out precaution. However, due to technology advancement, administrative tasks select reduced. The role of military man resource has shifted and seems to be taking up more righteousness in company strategic reading and maturement. This scheme has been choke offed in the officiate of Noe et al (2010, p. 719) Durai (2010, p. 109) stated, Employees argon the precious asset of an placement.In view of this statement, human resource planning plays an important role to perfect the utilization of its asset in bourne of cost and productivity. Involvement with companys strategic planning go out free human resource de vocalisationment to cast a broader view of employees acquirement exigency and deployment. Ineffective planning lead construct a hindrance to employee satisf actory and presidential term success. In this paper, we go forth study how the theory of stipend care, task rotation, recognition and fostering impart impel employees.Correspondence to these theories, geological formation testamenting draw in in productivity and reach in one case the employees be appeased with the working surround. Employee elaboration with the cheek Employees talent and efforts have obvious effects on an brass sections productivity and stability. And such efforts are very much been neglected and fail to satisfy employees needs. When employees efforts are non accepted, there entrust be a lack of commitment to the organization. Thus, employees impart not be motivated and will be less creative. Effectiveness of wages ManagementIn order to facilitate the achievement of an organizations goals and key values, endure management plays an important role in human resource management function. Employees should be managed powerful and motivated by providing the best honorarium system based on the occupancy d wiz and its resolution. A good wages system will attract and prevent skilled and productive employees. (Pattanayak B, p. 284) According to Armstrong (2002, p. 8), the wages system consists of a check earnings of direct pecuniary wagess (fixed wage and protean pay) and employee benefits (annual leave and sick leave).And, non- pecuniary settle withs such is avocation recognition, opportunities for career advancement and in the flesh(predicate) growth are also part of the allowance system. Diagram 2 shows the list of financial and non-financial rewards that an organization can apply nether the earnings system. pic Noe et al. (2010, p. 547) menti adeptd that employees emotion and function towards the organization is mainly influence by the compensation payout. Difference in case-by-case personal characteristic will draw batch to different compensation systems.A great resolving to compensate employees in th e organization is to accommodate combination political program rather that one program over another. List of compensation programs are merit pay, incentive pay, usefulness sharing, ownership, lucre sharing, and skill-based pay. Merit pay is one of the best rewarding compensation programs. Employees are measured and payout annually based on the individuals performance appraisal rated by employees supervisor. many companies in Singapore are adapting this compensation program for their permanent staffs. Employees will be more motivated when their performances are recognized and their basic pay is change magnituded.Another example of compensation program is incentive pay. Incentive pay is usually seen in organization with gross sales team that brings in revenue and pay that will gain mart deal out for the company. Employees with high performance will gain in such compensation program as they measured based on the amount of products or services change and the payout is not part on the employees basic pay. Payment will be earned on a all week or monthly basis depending on the organizations policy. Once an individual is motivated by such fiscal rewards, he will sell more products and services for the rganization. However, if the compensation program is not well planned, it will have a negative effect to the organization to upkeep its business quarrys. As mentioned in the term by Daly D (2009), skilled-based pay is the stipend to payout employees with a bankrupt skilled friendship that related to the patronage. Employees who have attained unseasoned skill and knowledge will be compensated more comparing to their co-colleagues. fetching an example of a technician in a manufacturing organization, he will be rewarded once he has completed the machine fixing and maintenance program.In order for him to continue to be compensated with better basic pay, he has to continue to upgrade his skillsets. Once the employees market value has increased, he will be motivated to set in more to the organization and cleanse productivity. Effectiveness of Job rotation &038 Recognition Apart from monetary rewards, job rotation has a function to motivate employees to enhance their skill knowledge and contribute more to the organization. Job rotation is taxonomic procedure whereby individual employee is shifted from current side or department to another in a given period of time.Employees will be multi skilled and able to support the organization when skillsets are required. When a job is less lifeless or monotonous, employees will perform better and improve productivity. Hence, employees will gain a promotion and increase their income. (Noe et al, p. 430) Effectiveness of Recognition Recognize and reward are exactly what the employees in the organization looking forward for a better growth in their career. The right motif will influence the employees behavior and in return employees will achieve the organizations goals and objective and stri ve for higher productivity.Once the employees are satisfied and feel rewarded, it is incredible for them to leave the organization. Employees will dedicated their skill and time for the organization. Therefore, the management should always be enthusiastically recognizing the talented and hardworking individuals to hold a healthier working environment for the employees to come to work happily every day. Effectiveness of Training and Development benignant employees with schooling and development are the ii fundamental components in an organization.Both training and development do co-exist, as training will provide the skillsets and knowledge for the employees needs in the job. Whereas, development is a process to rig employees in gaining new skills and knowledge for extrovert demand in the current job or a job that do not exist. When employees obtained new skills and knowledge, it will improve the quality of the work. Organization will guide on the opportunities to attract and retain talented employees to gain profits and productivity. This theory is support by Noe et al. (2010, p. 87) ConclusionEmployees are still an integral part of a company, being important assets. They must be constantly motivated and rewarded financial or non-financial on effort through on the job. Thus, human resource management has to balance the needs and achieve the goals and objective of both employees and the organization. Once the employees gained the recognition from the organization, they will produce better terminuss and profits. Reference Armstrong M, 2002 Employees Rewards, capital of the United Kingdom CIPD Publishing. Durai P, 2010 valet imagery Management, newfangled Delhi Dorling Kindersley (India) Pvt Ltd.Noe, Hollenbeck, Gerhart, Wright, 2010 gentle Resource Management Gaining A warlike Advantage, 7th Edition New York, McGraw-Hill. Pattanayak B, 2006 Human Resource Management, 3rd Edition New Delhi, Prentice Hall of India Private Limited. Daly D, 2009. Empl oyee Relations, Motivation, motion Management, DeGarmo Group. Available http//www. degarmogroup. com/index. php/2009/03/the-effectiveness-of-skill-based-pay-systems/ 1 Dec 2010 Own Referencing Employee reward Michael Armstrong CIPD Publishing, 2002 573 pages http//books. google. com/books? d=keiVwGxm3i0C&038pg=PA363&038dq=financial+and+non+financial+rewards&038hl=en&038ei=lELSTtXwHYLorQeht-XnDA&038sa=X&038oi=book_result&038ct=result&038resnum=1&038ved=0CDcQ6AEwAAv=snippet&038q=total%20remuneration&038f= delusive Durai P, Human Resource Management, Pearson Education India rapscallion109 http//books. google. com. sg/books? id=cRAvCCsN2e0C&038pg=PA109&038dq=what+the+point+on+human+resource+is+an+asset+to+organisation&038hl=en&038ei=58zRTti1K9HnrAeGjOnGDA&038sa=X&038oi=book_result&038ct=result&038resnum=3&038ved=0CEIQ6AEwAgv=onepage&038q=what%20the%20point%20on%20human%20resource%20is%20an%20asset%20to%20organisation&038f=false pic Ronel Kleynhans, Human Resource Management 2006 Page 6 Pearson South Africa, 1 Mar, 2006 byplay &038 Economics 310 pages http//books. google. com. sg/books? id=8_acBYy_77oC&038pg=PA6&038dq=HRM+-+employee+is+an+asset&038hl=en&038ei=bbHRTsf8LYHTrQf1pakw&038sa=X&038oi=book_result&038ct=result&038resnum=4&038ved=0CEAQ6AEwAwv=onepage&038q=HRM%20-%20employee%20is%20an%20asset&038f=false Human Resource Management 3Rd Ed. Biswajeet Pattanayak PHI encyclopedism Pvt. Ltd. , 1 Mar, 2005 504 pages http//books. google. com/books? id=dF7G0yZ51GgC&038dq=compensation+management&038a mpsource=gbs_navlinks_s picUltimate Small melodic line Marketing Guide James Stephenson, Courtney Thurman enterpriser Press, 4 Jan, 2007 Business &038 Economics 478 pages http//books. google. com/books? id=algx60Sbqo0C&038dq=training+program+to+motivate&038source=gbs_navlinks_s industrial/Organizational Psychology An Applied prelude Michael G. Aamodt Striking a balance surrounded by research, theory, and application, the sixth edition of INDUSTRIAL/organisatio nal PSYCHOLOGY AN APPLIED APPROACH http//books. google. com/books? id=TgE7zklRjHgC&038dq=training+program+to+motivate&038source=gbs_navlinks_s David Daly http//www. egarmogroup. com/index. php/2009/03/the-effectiveness-of-skill-based-pay-systems/ comprehensive Dictionary of Organization Behaviour Rahul Arora 2000 573 pages plentiful viewSarup &038 Sons, 1 Jan, 2000 573 pages Recognition &038 Reward computer program Best Practices By Derek Irvine, Globoforce April 15, 2011 http//www. hrmtoday. com/talent/human-resources-management/recognition-reward-program-best-practices/ lick Their Day Employee Recognition That Works proven Ways to Boost Morale, Productivity, and Profits Cindy Ventrice ReadHowYouWant. com, 6 Aug, 2010 Business &038 Economics 336 pages