Every task has an objective for why it is being conducted, so as same the objective of this article is to awaken the entrepreneurs, HR persons and personnels involved in management towards thinking one step ahead of retaining potential HR of any organisation. Human resource is a term with which many organizations describe the combination of traditionally administrative personnel functions with performance management, Employee Relations and resource planning. The field draws upon concepts developed in Industrial/Organizational Psychology. Human resources have at least two related interpretations depending on context. The original usage derives from political economy and economics, where it was traditionally called labor, one of four factors of production. The more common usage within corporations and businesses refers to the individuals within the firm, and to the portion of the firm’s organization that deals with hiring, firing, training, and other personnel issues. This article addresses both definitions.
The objective of Human Resources is to maximize the return on investment from the organization’s human capital and minimize financial risk. It is the responsibility of human resource managers to conduct these activities in an effective, legal, fair, and consistent manner.
Human resource management serves these key functions -
1.Recruitment Strategy Planning
2.Hiring Processes(recruitment)
3.Selection
4.Training and Development
5.Performance Evaluation and Management
6.Promotions
7.Redundancy
8.Industrial and Employee Relations
9.Record keeping of all personal data.
10.Compensation, pensions, bonuses etc in liaison with Payroll
11.Confidential advice to internal ‘customers’ in relation to problems at work.
12.Career development.
Concept :
Concept of Key Resource states about the resources/employees about how to make each and every employee of the organisation as a key resource for the organisation. It is a unique never heard and never discussed term in the area of management. KR deals with each and every resource of the organisation to improvise its efficiency in such a manner so that it must prove as a “Key Resource” rather than just an asset to the organisation. Though management of each and every organisation put their efforts to enhance the productivity of their employees and to get most out of it but once the human resource becomes the key resource all other efforts, strategies, resources are regardless to get maximum output from the employees. Until and unless any task/feeling/efforts are put on continual basis and also monitored at regular intervals (frequency of intervals depends upon sensitivity of the case/objective), the success can not be assured.
Human resources can be turned to Key resources by -
1. Motivation.
2. Continuous support.
3. Guidance.
4. Availing proper resources.
5. Sufficient compensation.
6. Distribution of power, authority.
7. Evaluation and monitoring.
8. Education.
9. Training.
10. Encouragement.
Employees, as key resource take up the organisation to new heights with smooth running and they also ensure optimal utilization of resources as well.
Key Resource of any organisation -
1. Enhances intellectual capital of the organisation.
2. Saves time.
3. Saves resources.
4. Increases the productivity of the organisation.
5. Increases the speed of growth of the organisation.
6. Creates a better image of the organisation among the industry.
7. Develops the interest among the candidates to do job.
8. Passes a positive image in the society.
9. Increases confidence among the shareholders and all other investors.
10. Improves overall quality of output as well as quality of work life of the employees of the organisation.
Employees as Key Resource reduces –
1. Attrition rate.
2. Expenses, efforts, resources for recruitment.
3. Financial losses.
4. Delay in work.
5. Monitoring.
6. Lower quality of work.
Characteristics of KR –
1. Self motivated.
2. Highly motivated.
3. Determinant towards work.
4. Perfectionist attitude towards work.
5. Knowledgeable.
6. Decent behaviour.
7. Patient.
8. Experienced.
9. Qualified.
10. Zeal to learn and turn statements into reality.
11. Responsible.
KR & Indian Industry –
In today’s scenario where each and every customer is fickle and quality conscious, demanding, KR first of all determines the need of the customer/client that what exactly they are searching for. Regarding the employees in any organisation the working style/execution of any task is a mix of target and time oriented. It depends upon the nature of the job and the manpower whosoever is engaged in the completion of that job. The better way for completion of a job with desired result is to distribute the authority regarding that activity so that the employee must know their responsibility and it can be held liable. Monitoring of each and every task must be output oriented as whether the desired output has been achieved or not. In this case the efforts and all other things which are engaged in achieving output can be assessed simply through the output desired and got.
Scope of KR in India –
If the Human Resources of an organisation are turned into Key Resources, they can turn the dreams of the organisation into reality in a very short span of time, as all KR’s have a clear understanding of –
1. What the job is?
2. The resources which will be engaged into it?
3. Desired output?
4. Best minds & hands for the completion of the task.
5. Method by which it can be completed at its optimum.
Conclusion –
To conclude this article it seems an immense need of the hour that further work has to be started immediately because turning every human resource into key resource put the organisation to new heights and a landmark in the industry.
References:
• Anderson H. Anderson Effective Personnel Management, Jaico Books Delhi 1997
• Aswatthapa K, Human Resource and Personnel Management, TATA McGraw Hill Publishing Company Limited, New Delhi 2005
• Mamoria C.B., Gankar S.V., Personnel Management Text & Cases, Himalaya Publishing House 2006
• Anderson Alan H., Effective Personnel Management, Jaico Publishing House 1997
• Cascio Wayne F., Managing Human Resources, MCGRAW HILL 1995
• Wadhwa Raj K., Davar Jimmy, Rao Bhaskar P., Personnel Management and Productivity Factors, Kanishka Publishers, Delhi 1996
• Flippo Edwin B., Personnel Management, McGraw Hill International Edition 1984
• http://en.wikipedia.org/wiki/Human_resources
• www.originhr.ca
• www.altechindia.com/images/careers.jpg
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About Author
Lecturer – MBA(HR), Placement Officer, Vidyasagar Institute of Management, Bhopal (M.P.) India
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