In today's rapidly changing and highly competitive environment, the human resource function plays an increasingly important role in an organization's ultimate success or failure. Where success was once dependent upon an organization's ability to discover and manage natural resources, success today goes to the organizations that most effectively discover and manage their human resources.
Though organizations widely recognize the need to attract, manage and develop people, today HR professionals must strive to do much more. They must enable their organization to build global HR networks in order to expand and prosper in the international arena. They must also develop human resources that continually build competitive advantage in an ever-changing environment. And, they must add value to their organization's distinctive competencies
Let us analyze how human resources "add value" to the organization through the followings main HRM functions:
1/Human Resource Planning
Human Resource Planning is the key link between a firm's strategic plan and its overall human resource management function.
It is the sum total of the plan formulated for the recruiting, screening, compensation, training, job structure, promotion, and work rules of an organization's human resources. It is a process designed to translate the corporate plan and objectives into future quantitative and qualitative employment requirements, together with plans to fulfill those requirements over both the shorter and longer terms, through human resource utilization, human resource development, employment and recruiting and the use of information systems.
To perform its add value function, the human resource planning should be fully integrated with overall organization strategic plan, especially the firm's growth objectives. Outside influences of economic conditions, technology, the labor market, and so on should be given adequate consideration when developing the human resource plan. Changes in job design should be explicitly recognized in the plan. It should be kept flexible and...