By Chuck Leddy. Your employees are your most valuable asset - Don't take them for granted or treat them poorly. Throughout the years, the importance of employee have increasingly emphasized in organizations. Ironically, while human resources are the most important asset in an organization, they are also the cost involved during the training activity. Employees are the heart beat of the company. At the same time Bojnec and Gašparič (2010, p. Employees are the major contributors to profits and worth of the organization. Assessing the value of human capital (HC), the most important asset of any organization, has long been easier said than done. As is discussed by Hargreaves and Jarvis (1998: 3), Therefore, the organization must be smart to engage, select and retain the talented employees in order to maintain the organization productivity. To begin this process, you need to get the lay of the land—to understand the perspectives of your employees, and what their relationship is … However, human resource is still the most important element to determining the success or failure of an organization. In this post, I present a collection of quotes about planning and organizing. The assets which can be felt, seen and touched are called tangible assets. “Human Resource (employees) is the most important asset of an organization. Your front-line employees know your customers best; they interact with them daily. 228, A Study on Financial Performance Using Ratio Analysis at Emami Ltd, Literature Review on Customer Service Management on Emirates. People are the motor of every business. These components consist of value, major shareholders, employees, revenue, board of directors, advisors, and subsidiaries, course, I learned a great deal about Human Resources Development (HRD). This well-intentioned phrase was in fact carrying a buried and profoundly disrespectful message, implying conventional capital asset thinking, treating the people in the organization as an asset to be computed along with any other number in a ROI calculation. Traditionally, human resource focused mainly on administrative functions and process personnel management. I now have a better understanding on the history of human resources development, the different theories and philosophies of HRD, and skills pertaining to analyzing an organization’s human assets and the processes related to human capital development. Therefore, they cannot be accounted for as an asset in the same way as a machine or a building. When organizations are operating they have certain plans, policies, and rules to develop and follow in order to have efficient strategies. Will Robots take my Job? When a new project is put into effect, the strategies will then need to be put into effect. Research shows, there is an economic link between employee satisfaction and company financial performance. However, as important as any of these corporate financial assets may be, for the nonprofit organization millions of dollars worth of buildings and cash reserves are far less important than at least seven other tangible and intangible assets that will strongly influence the future success and viability of the organization and its mission. The advance equipments, new technology, good marketing strategic, excellent customer services and many other elements can be the factors to build up for the advantages. By using this site, you agree to this use. It may result in new orders that are won for the organization or even new ideas for the amendment of the product. When an organization believes in its people, it does everything in its power to keep them happy and motivated. They have the solutions on how to improve systems which can save money by driving efficiencies. You want to attract and retain the best; provide them with encouragement, stimulus, and make them feel that they are an integral part of the company's mission. Yet many companies treat their employees poorly. The skills, knowledge and experience of each individual contribute to the growth of organizations, communities and the development of the nation. Throughout the years, the importance of employee have increasingly emphasized in organizations. If it's good you win, if it's poor you lose. Not any organization in the world exit without human resources. “ That is visionary, long-view leadership that we can all aspire to in our own way. The perception of value in an organization, brand or product, merits customer adoption while supplementing organizational goals that could, in the long term, determine financial sustainability and success of a company. Employees are a very important part of your operation, but they are not your most important asset. They use your internal tools and systems every day. Will Artificial Intelligence replace Leaders? Every time I speak for an organization, regardless of their size or mission I … They have the answers on how to improve customer service and your products. An employee will perform better or at his peak when he has a positive perception of the work he is doing and his organization. “75-80% of our greatest assets walk out the door every single night, and we want to make sure they come back. The growth of satisfaction is to be reflected in the increase of productivity, improvement of the products’ quality or rendered services and higher number of innovations. “Human Resource (employees) is the most important asset of an organization. Organizations are relying on managers to get the people, Question : “Human Resource (employees) is the most important asset of an organization.” Its the people that make things happen. They determine the customer experience. He was right -- it doesn’t make sense to say that people are our most important asset. Many of us in business have heard the popular aphorism, “People are your greatest asset.” Some of us may even believe it. A happy workplace culture does translate into better stock returns. Succeeding through the ‘Talent of People’ is one of the fundamental concepts of EFQM (European Foundation for Quality Management). Employers need to understand that a content and motivated employee has a higher probability of making significant contributions to the organization. Microsoft’s organization has seven components of their structure. “Somebody once said that in looking for people to hire, you look for three qualities: integrity, … Different organizations have different operations, responsibilities as well as services that they provide. Management’s responsibility today is to combine people with information on a timely basis for several purposes. According to research conducted by Gallup, disengaged employees cost companies $450-to-$550 billion in lost productivity each year as a result of poor performance and high absenteeism. If employees are your greatest assets, they do. Human assets are the skills and abilities that employees and other members of an organization add to the organization as a whole. It’s the satisfaction level of your employees that matters … Yet many companies treat their employees poorly. Because it is such an intangible asset… According to Mayo(2000) focuses on a definition of human capital and defines it as: “ a capability, knowledge, skill, experience, and networking with the ability to achieve results and the potential for growth; individual motivation in the form of aspirations, ambition, drives, work motivations and, corporations across the world. However, due to technology advancement, administrative tasks have reduced. When you empower employees, you promote vested interest in the company. And they should be … Employees are a company's greatest asset - they're your competitive advantage. “Human Resource (employees) is the most important asset of … In Singapore, where there are no natural resources, human capital is one of the valuable resources that the country depends on to attract foreign investors. Throughout the years, the importance of employee have increasingly emphasized in organizations. When organizations such as Target implements, Microsoft’s Business Environment and how it relates to Human Resource With today's workforce becoming increasingly diverse and organizations doing more to maximize the benefits of the differences in employees, Human Resource managers are evolving from the old school side-line player to the front-line fighters. Employees are a company’s greatest asset. Additionally, developing staff is one of the most effective motivator for retaining them. … Employees are the face of an organization. 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