HR the new requirement in the business environment is

 

HR in a
department has various functions which are vital and crucial for an
organization. It is undeniable that individual development and working to
maintain a productive working environment are vital but the functions of HR are
not limited to this extent only. Apart from individual development and working
to maintain a productive working environment HR plays multiple roles for the
growth and functioning of the organization. Other crucial functions of HR in an
organization may include recruitment and employee selection, fullest
utilization of human capital resources for the growth of the organization,
balancing the needs of the organization with those of the employees to assure
the well being of both the parties, guiding the leadership in the organization
on each and every aspect of human resources for the growth of the organization,
adapting the best educational and cultural shifts in the organization to keep
up with the current trends in the business organization and requirements of the
hour, retaining the top talent in the organization at the available resources
and maximizing the productivity and many more. Training and development of the
employee as per the new requirement in the business environment is vital
function of HR department in any organization. It is a tested fact that recruitment and selection of
employee in an organization has the highest impact on the profit and margin of
an organization. In the Boston Consulting Group findings it was revealed that
how different HR functions impact the business and the profitability of an organization.
As per the report recruitment function of HR can impact the profit growth as
much as 3.5 times and profit margin as much as two times of an organization
(John, 2012). This is evident that mere rectifying and having excellent
recruitment and selection process can multiply the profit margin of an
organization by two times and an organization can meet its aspiration of making
high profit. Under the HR function of recruitment and selection an organization
can plan to have right kind of personnel for the defined roles in the
organization and can recruit them at the right time to perform beneficial
activities of the organization to meet the short and long term objectives of
the organization (Fajana, 2002). Through
analysis of various other functions of HR in an organization, looking into the
importance of these functions for the organization, collecting the literature
review, relating these functions to the impact on the productivity and profit
margin of the organization we can conclude that these other functions of HR are
very vital to meet the principles and goals of an organization. They are as
much crucial as the functions like promoting individual development and working
to maintain a productive and positive working environment. In fact it was found
through analysis that simply focusing on excellent recruitment and selection
process by an organization it can multiply its profit margin by two times.

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