The Importance of a Robust Human Resource Information System (HRIS): The Future of HR Management

 In today's dynamic and competitive business environment, companies are increasingly recognizing the critical role of human capital in their sustained success. As competition increases, technology advances, and employee expectations change, the ability to attract, develop, and retain top talent has become a key differentiator. To effectively manage this valuable resource, companies must harness the power of a robust human resources information system (HRIS).

“Traditionally, a Human Resources Information System (HRIS) was seen as a basic way of keeping administrative employee records and focusing on security and data management – simply a database ‘keeping the lights on’, rather than anything strategic or value-added. As HR functions became more complex, HRIS incorporated processes such as talent acquisition, recruitment, and ongoing employee data management and processing. It has since become the solution that maintains, manages, predicts and processes detailed employee information, with the help of AI and automation.” (blogs.oracle.com, 2023)

Bdtask, 2021, What is an HRIS System? A Comprehensive Guide

A modern HRIS is crucial for effective HR strategy, providing a central repository for employee data, automating tasks, optimizing workflows, and providing data-driven insights to optimize HR operations.

“Every HR Technology platform brings two value propositions to your company: (A) they automate a lot of junk work, and (B) they transform the way you operate.” (Josh Bersin, 2023)

A robust HRIS offers many benefits that can transform a company's human resources function and contribute to overall business success. Let's delve into some of the key advantages:

• Streamlined HR processes: HRIS can help organizations automate many of their HR processes, such as payroll, benefits administration, and hiring. This can free up HR professionals to focus on more strategic activities, such as workforce planning and talent development.
• Improved employee productivity: HRIS can help organizations improve employee productivity by providing employees with self-service access to their HR information. This can allow employees to manage their own tasks, such as updating their personal information and requesting time off.
• Better decision-making: HRIS can help organizations make better decisions about their workforce by providing them with data and insights into their employee data. This data can be used to make decisions about hiring, training, and development.
• Enhanced Communication and Collaboration for a Connected Workforce: HRIS is a centralized platform for HR professionals, managers, and employees, promoting open communication, goal alignment, and problem resolution, fostering a more engaged workforce, driving innovation, and enhancing productivity.

TechnologyAdvice: The 5 Types of Human Resources Information Systems (HRIS)

“AI is here, and this means analytics, ONA, chatbots, and NLP are now part of HR. As new and confusing as this technology has been, I am excited to see all these tools move from the “sidelines” to center stage, as companies now realize they can buy much of this technology as needed, without having to build everything internally.” (Josh Bersin, 2019)

Implementing a robust and modern HRIS is an investment in the future of an organization. HRIS helps companies create a more efficient, effective, and engaged workforce by streamlining processes, empowering employees, facilitating informed decision-making, and improving communication. As organizations grapple with the complexities of modern business, a better HRIS is an essential tool to achieve sustained success and unlock the true potential of human capital.

“HR is undergoing rapid and profound change. Once viewed as a support function that delivered employee services, HR is now being asked to help lead the digital transformation sweeping organizations worldwide. We see this change taking place in three areas: Digital Workforce, Digital Workplace, and Digital HR” (Pascal Occean, Brett Walsh, and Michael Stephan, 2017)
 

 
References
blogs.oracle.com, 2023. The Evolution of HRIS: Business Resilience and Employee Experience [Online], Available at: The Evolution of HRIS: Business Resilience and Employee Experience (oracle.com), Accessed 27^th November 2023
Josh Bersin, 2019, HR Technology 2020: Disruption Ahead [Online], Available At: HR Technology 2020: Disruption Ahead – JOSH BERSIN, Accessed 26^th November 2023.
Josh Bersin, 2023, HR Technology 2023: What’s Hot? What’s Not? [Online], Available at: HR Technology 2023: What's Hot? What's Not? – JOSH BERSIN, Accessed 26^th November 2023.
Pascal Occean, Brett Walsh, and Michael Stephan, 2017, Digital HR: Platforms, people, and work [Online], Available at: https://www2.deloitte.com/us/en/insights/focus/human-capital-trends/2017/digital-transformation-in-hr.html, Accessed 26^th November 2023.
Mahmuda Akter Isha, Bdtask, 2021, What is an HRIS System? A Comprehensive Guide! [Online], Available at: What is an HRIS System? A Comprehensive Guide! (bdtask.com), Accessed 27^th November 2023.
Shelby Hiter, 2021, HRIS Trends: The Future of HR Management [Online], Available at: HRIS Trends for 2022: Future of HR Management | CIO Insight, Accessed 27^th November 2023.
 

Achieving Strategic Growth through The Advanced HR Value Chain

In today's dynamic and competitive business environment, companies are constantly looking for ways to optimize operations, increase competitive advantage, and achieve sustainable growth. In this pursuit of excellence, human capital becomes a critical force for an organization's success. The Advanced HR Value Chain has proven to be a powerful tool for unlocking the full potential of human capital and transforming employees into catalysts for strategic growth and sustainable success.

“The original source for the HR Value Chain Advanced model is unclear. It is very similar to the HR value chain but with two key differences” (Erik van Vulpen, 2023).

Erik van Vulpen, 2023, 8 HR Models Every HR Practitioner Should Know

The advanced HR value chain goes beyond the traditional HR framework by introducing a comprehensive and holistic approach to workforce management. It consists of four stages:

• HR inputs: These are the resources and capabilities that HR needs to function effectively, such as the HR organization, HR technology, HR data, HR budget, and the economic environment, competitive landscape, and regulatory environment.
• HR activities: These are the processes and practices that HR departments implement to manage the workforce, such as recruiting, selecting, and onboarding employees, developing and training employees, compensating and motivating employees, and managing employee performance.
• HR outcomes: These are the results of HR activities, such as employee engagement, productivity, retention, and overall organizational performance.
• Strategic goals: These are the goals that the organization is trying to achieve, such as increasing market share, improving profitability, or expanding into new markets.

The adoption of the advanced HR value chain offers a multitude of benefits to organizations, enabling them to achieve their strategic goals and excel in the competitive marketplace:

• Strategic Alignment: Aligning HR activities with organizational objectives ensures that HR efforts are focused on driving strategic growth and achieving desired outcomes.
• Enhanced Communication and Collaboration: Fostering open communication and collaboration between HR and other departments promotes a cohesive approach to workforce management, ensuring that HR initiatives are integrated into the overall business strategy.
• Accountability and Measurement: Implementing a robust system of measurement and accountability for HR activities provides valuable insights into the effectiveness of HR programs and allows for continuous improvement.
• Maximized ROI from HR Investments: By optimizing HR resource allocation and ensuring that HR activities are aligned with strategic goals, organizations can maximize the return on their HR investments.
• Enhanced Organizational Performance: Ultimately, the advanced HR value chain contributes to improved employee engagement, productivity, retention, and overall organizational performance.

“The HR value chain model provides a crucial practice to articulate the value Human Resources delivers to an organization. Though it is not always easy to put an HR model into practice, when done right, it benefits the entire workforce and helps achieve the organizational” (Alex Morris, 2021).

To effectively implement the Advanced HR Value Chain, organizations should follow these key steps:

• Define Strategic Goals: Establish clear and measurable strategic goals that align with the organization's overall vision and mission.
• Assess HR Inputs: Evaluate the current state of HR inputs, identifying areas for improvement and strengthening HR infrastructure, technology, data management, and financial resources.
• Align HR Activities with Goals: Develop a comprehensive plan to align HR activities with strategic goals, ensuring that HR processes and practices contribute to achieving desired outcomes.
• Establish HR Outcomes: Define measurable HR outcomes that reflect the organization's strategic priorities and track progress toward achieving these outcomes.
• Monitor and Adapt: Continuously monitor the effectiveness of HR activities and adapt strategies based on data-driven insights, ensuring that HR practices remain aligned with evolving organizational goals.

The Advanced HR Value Chain serves as a powerful tool for companies to unleash the full potential of their human capital and transform their employees into engines of strategic growth and sustainable success. By adopting this framework, companies can leverage the collective knowledge, skills, and experience of their employees and foster a culture of innovation, engagement, and continuous improvement that advances them toward achieving their strategic goals.

 

 

References

Alex Morris, 2021, HR Value Chain Model – UPDATED 2022 – A Complete Guide [Online], Available at: https://www.emexmag.com/hr-value-chain-model/, Accessed 26^th November 2023.

Erik van Vulpen, 2023, 8 HR Models Every HR Practitioner Should Know in 2023 [Online], Available at: https://www.aihr.com/blog/human-resources-models/#HRVC, Accessed 25^th November 2023.

Sandra, 2021, AIHR and the Advanced HR Value Chain [Online], Available at: AIHR and the Advanced HR Value Chain - Strategic HR Academy (joningham.academy), Accessed 25^th November 2023.

Shannon Molarius, 2021, The Ultimate Guide to Human Resources Models and Theories [Online], Available at: Guide to HR Models and Theories (contractrecruiter.com), Accessed 25^th November 2023.

Ulrich et al., 2012, The HR value chain: How to measure the impact of HR on organizational outcomes.

Ulrich et al., 2017,  The advanced HR value chain: A practical guide to HR excellence.

 

 

How Flexibility Increases Employee Productivity and Satisfaction

Demand for flexible working has grown more rapidly in recent years than ever since the start of the pandemic. In today's dynamic and competitive business environment, companies are constantly looking for ways to increase employee productivity, foster innovation, and attract top talent. One of the most effective strategies for achieving these goals is to encourage flexibility in your workforce.

“We find that as a company becomes more comfortable with allowing and managing flexibility, leaders tend to move to a boundaryless approach, whereby employees work anywhere, anytime. Typically companies initiate this to enhance productivity and enable their businesses to operate efficiently around the clock while saving money.” (Ellen Ernst Kossek At el., 2021).

Edhec Business School, 2021, Flexibility : The Future Of Work 

Employee flexibility refers to the ability of employees to adjust their work schedules, locations, and methods to meet their individual needs and preferences. This can include a variety of arrangements, such as:

• Telecommuting: Working from home or other locations outside of the traditional office setting.
• Flextime: Setting their own work hours within certain parameters.
• Compressed workweek: Completing a full week's work in fewer than five days.
• Job sharing: Sharing a single job with one or more other employees.
• On-demand work: Working on a project-by-project basis, with hours determined by the needs of the employer.
• Virtual work: Working entirely remotely, with no physical presence in an office.

Within the framework of personal flexibility, the following can be listed: Task Flexibility, Psychological/Mental flexibility, quantitative flexibility, working time flexibility, Wage flexibility (Piwowar-Sulej, 2016).

Successfully implementing employee flexibility requires a strategic and well-structured approach. Here are some key considerations:

• Establish clear policies and guidelines: Develop clear policies that outline the types of flexible work arrangements available, eligibility criteria, and expectations for employee conduct.
• Communicate effectively: Clearly communicate the flexible work policy to all employees, ensuring everyone understands the options available and the process for requesting and utilizing flexible arrangements.
• Provide training and support: Offer training and support to both managers and employees to ensure effective implementation of flexible work arrangements. This may include training on managing remote teams, communicating effectively across different work locations, and using technology to facilitate collaboration.
• Evaluate and adapt: Regularly evaluate the effectiveness of the flexible work policy and make adjustments as needed based on employee feedback and organizational goals.
• Be open to feedback: Businesses should be open to feedback from employees about their flexible work arrangements. This can help to improve the policy and make it more effective.
• Trust your employees: Businesses should trust their employees to use flexible work arrangements responsibly. This means giving employees the freedom to manage their own time and work

There are several ways that flexibility can increase employee productivity. Here are a few of the most important:

• Improved work-life balance: When employees have more control over their work schedule, they are better able to balance their work and personal life. This can lead to reduced stress, improved mental health, and increased energy levels, all of which can boost productivity.
• Increased employee engagement: Employees who feel like they have more control over their work are more likely to be engaged in their work. This can lead to increased motivation, innovation, and creativity.
• Reduced absenteeism: Employees who are able to work from home or have flexible hours are less likely to take sick days. This can save businesses money on sick leave and other benefits.
• Greater talent attraction and retention: Flexible work arrangements are a valuable perk that can attract and retain top talent. In a recent survey, 80% of workers said that they would choose a job with flexible work hours over one that did not.
• Reduced overhead costs: Businesses that allow employees to telecommute can save money on office space and other overhead costs.
• Improved organizational agility and adaptability: By embracing flexibility, organizations can adapt more quickly to changing market conditions and respond more effectively to unforeseen challenges.
• Greater flexibility to care for personal needs: Flexible work arrangements can allow employees to more easily handle personal commitments, such as caring for sick children or aging parents.

 

References

Caroline Castrillon, 2022, Why Flexible Work Boosts Employee Productivity [Online], Available from: https://www.forbes.com/sites/carolinecastrillon/2022/03/23/why-flexible-work-boosts-employee-productivity/?sh=467d316c6e4b, Accessed 21 November 2023.

Edhec Business School, 2021, Flexibility : The Future Of Work [Online], Available from: https://www.forbesindia.com/article/edhec/flexibility-the-future-of-work/65567/1, Accessed 23 November 2023.

Ellen Ernst Kossek et al., 2021, The Future of Flexibility at Work [Online], Available from: https://hbr.org/2021/09/the-future-of-flexibility-at-work, Accessed 22 November 2023.

Ellen Ernst Kossek and Rebecca Thompson, 2015, Workplace Flexibility: Integrating Employer and Employee Perspectives to Close the Research–Practice Implementation Gap [Online], Available from: https://www.researchgate.net/publication/282993812_Workplace_Flexibility_Integrating_Employer_and_Employee_Perspectives_to_Close_the_Research-Practice_Implementation_Gap, Accessed 22 November 2023.

Katarzyna Piwowar-Sulej, 2020, Human Resources Development as an element of Sustainable HRM - with the focus on production engineers [Online], Available from: https://www.researchgate.net/publication/344213755_Human_Resources_Development_as_an_element_of_Sustainable_HRM_-_with_the_focus_on_production_engineers, Accessed 21 November 2023.

 

 

Kaizen in HRD: Embracing Continuous Improvements

 The Japanese concept of kaizen places a strong emphasis on ongoing development. It is a methodical approach to gradually improving products and processes in small steps to produce meaningful outcomes. Kaizen is applicable to every facet of business, including training employees.

Dr. Daniel Zimmerman, 2022, Tools For Organization Development Professionals

 

“Employees are the greatest assets in your kaizen efforts. In Kaizen, every employee is involved, from management to the machine workers. Develop your team’s abilities through training and engage the team members to identify problems. Challenge them to routinely submit suggestions for positive change, evaluate their ideas, and put the good ones into practice. Also, remember to value the other suggestions and provide a reason for not implementing them.” Bakkah, 2023.

Kaizen offers many benefits for employee development, including:

• Improved skills and knowledge: Kaizen encourages employees to constantly learn and grow. By identifying and addressing areas for improvement, employees can develop new skills and knowledge that will make them more valuable to the organization.
• Increased motivation and engagement: Kaizen gives employees a sense of ownership and empowerment over their work. When employees are involved in making improvements, they are more likely to be motivated and engaged in their work.
• Better problem-solving and decision-making skills: Kaizen requires employees to think critically and identify solutions to problems. Over time, this helps employees to develop better problem-solving and decision-making skills.
• A more positive and productive work environment: Kaizen creates a culture of continuous improvement and collaboration. This can lead to a more positive and productive work environment for all employees.

“There are connected with the need to change the mentality of employees at all levels, activation of employees to undertake improvement actions, enforce the use of solutions developed by the team.” Joanna Rosak-Szyrocka, 2017.

How to Implement Kaizen for Employee Development

Kaizen can be used for employee development in two ways: establishing a formal program, which involves setting goals and implementing improvement plans, or encouraging employees to continuously seek ways to improve their work through diary entries or suggestions.

Implementing Kaizen less formally involves motivating staff to continuously improve their work through ideas submission or journaling, with specific tips for employee development.

Here are some specific tips for implementing Kaizen for employee development:

• Start by creating a culture of continuous improvement: This means making it clear to employees that everyone is expected to be involved in making improvements.
• Provide training on Kaizen principles and practices: This will help employees to understand how Kaizen works and how to apply it to their work.
• Empower employees to make improvements: Give employees the authority and resources they need to implement their ideas.
• Celebrate successes: When employees make improvements, be sure to recognize and celebrate their accomplishments. This will help to motivate others to participate in the Kaizen process.

Villanova University, 2023, Critical Factors That Determine the Success of Kaizen Events

“It was stated that there are many advantages of Japanese culture: economic effects, development of knowledge and qualifications of personnel, improving employee morale, identification of employees with the company and its problems, improved communication between employees, increased teamwork and teamwork problem solving. But there are also some problems with using Kaizen philosophy. There are connected with the need to change the mentality of employees at all levels, activation of employees to undertake improvement actions, enforce the use of solutions developed by the team.” J. Rosak-Szyrocka, 2017.

“From a higher perspective, promoting Kaizen helps not only develop individual capabilities but also form and develop a culture of cooperation and continuous improvement.” Nguyen Dat Minh, 2022.

Kaizen is an effective instrument for staff development. Organizations can help their staff members gain new knowledge and abilities, increase motivation and engagement at work, and improve their ability to solve problems and make decisions by putting Kaizen into practice. All employees may experience a more upbeat and productive work environment as a result of this.

 

References

Bakkah, 2023. What is Kaizen? - How to apply the principle of Kaizen in you Business? - Process & Method of continuous improvement [Online], Available from: https://bakkah.com/knowledge-center/what-is-kaizen-and-how-to-apply-it#:~:text=Provide%20Training&text=In%20Kaizen%2C%20every%20employee%20is,the%20good%20ones%20into%20practice, Accessed 15^th November 2023.

Dr. Daniel Zimmerman, 2022, Tools For Organization Development Professionals. Kaizen What? A Quick And Easy Way To Process Improvement [Online], Available from: https://instituteod.com/kaizen-a-quick-and-easy-way-to-process-improvement/, Accessed 17^th November 2023.

J. Rosak-Szyrocka, 2017, Human Resources Management In Kaizen Aspect [Online], Available from:  https://www.semanticscholar.org/paper/HUMAN-RESOURCES-MANAGEMENT-IN-KAIZEN-ASPECT-Rosak-Szyrocka/02c78fc019daff6208471a4008b3fd995762fcdc, Accessed 16^th November 2023.

Jennifer A. Farris, 2009, Critical success factors for human resource outcomes in Kaizen events: An empirical study [Online], Available from: https://www.sciencedirect.com/science/article/abs/pii/S0925527308002892, Accessed 16^th November 2023.

Joanna Rosak-Szyrocka, 2017, Human Resources Management In Kaizen Aspect [Online], Available From: https://frcatel.fri.uniza.sk/hrme/files/2017/2017_1_06.pdf, Accessed 15^th November 2023.

Nguyen Dat Minh, 2022, Human resources quality improvement from the perspective of Kaizen practices [Online], Available from: https://www.researchgate.net/publication/362149269_Human_resources_quality_improvement_from_the_perspective_of_Kaizen_practices, Accessed 15^th November 2023.

Villanova University, 2023, Critical Factors That Determine the Success of Kaizen Events [Online], Available from: https://www.villanovau.com/articles/six-sigma/kaizen-event-steps/, Accessed 17^th November 2023.

Wiljeana J. Glover et al., 2011, Critical success factors for the sustainability of Kaizen event human resource outcomes: An empirical study [Online], Available from: https://www.sciencedirect.com/science/article/abs/pii/S0925527311001691, Accessed 16 November 2023.

 

 

 

 

 

 

 

 

 

Importance of Aligning HR Strategy with Business Strategy

 As individuals, employees have needs aspirations, motivations, desires, and interests that influence their behavior at work but unfortunately, these objectives sometimes come in conflict with the corporate objectives of an enterprise. Organizations must constantly improve performance in a rapidly changing economic environment, focusing on cost reduction, innovation, quality, productivity, and market speed to stay competitive. In reconciling this conflicting interest human resources management and planning are useful tools employed in harmonizing the needs of the employees with the goals and objectives of the organization continuously.

“Organizational alignment is a key differentiator between high-performing and low-performing companies. In fact, research by LSA Global found that highly aligned companies grow revenue 58% faster, are 72% more profitable, and outperform unaligned peers in employee engagement, customer satisfaction and retainment, and leadership” Kristin Ryba, 2021.

There are several ways to align HR strategy with business strategy. One important step is to ensure that HR leaders have a good understanding of the organization's business strategy. Another important step is to develop HR metrics that are linked to the overall business goals. This will help HR leaders to track their progress and make adjustments to their programs and initiatives as needed.

·         Involve employees in the planning process: When developing goals and strategies, organizations should involve employees at all levels. This will help to ensure that employees have a buy-in to the goals and strategies and that they understand how they can contribute to their achievement.

·         Communicate clearly and frequently: Organizations should communicate their goals and strategies to employees clearly and concisely. This should be done regularly, both through formal and informal channels. Employees need to understand what the organization is trying to achieve and how their work contributes to those goals.

·         Better talent management: HR can help the organization to attract, retain, and develop the talent it needs to achieve its strategic goals.

·         Increased innovation: HR can create a culture of innovation and creativity, which can help the organization to develop new products and services and stay ahead of the competition.

·         Provide opportunities for development and growth: Organizations should provide employees with opportunities to develop their skills and knowledge. This will help employees to feel that they are valued and that they have a future with the organization. When employees feel that they are growing and developing, they are more likely to be engaged and motivated in their work.

·         Offer competitive compensation and benefits: Organizations should offer competitive compensation and benefits packages. This will help to attract and retain top talent and to show employees that they are valued. When employees feel that they are being compensated fairly and that they have good benefits, they are more likely to be engaged and motivated in their work.

“Human Resources can no longer be viewed as just a service-oriented department but rather an essential partner in business decision-making. Whether defining business goals and forming strategic plans starts with the executive team, the HR team, or another department, HR will play an essential role in achieving success” Erin Aldridge, 2023.

Erin Aldridge, 2023: 5 Steps to Align HR with Business Strategy

By harmonizing organizational goals and strategies with employees' goals and expectations, both employees and the organization will get benefits. Finally, this will lead to a more engaged and motivated workforce, and to improved organizational performance.

 

References

Ali Divandari and Fereshteh Amin, 2015, Alignment of Business Strategies and Human Resource Strategies in Banking Industry [Online], Available from: https://www.researchgate.net/publication/324770265_Alignment_of_Business_Strategies_and_Human_Resource_Strategies_in_Banking_Industry, Accessed 15^th Nov 2023.

Art Johnson, 2021, How to Align a Human Resources Strategy to Your Organization’s Objectives [Online], Available from: https://trainingmag.com/how-to-align-a-human-resources-strategy-to-your-organizations-objectives/, Accessed 14^th November 2023.

Erin Aldridge, 2023, Align Human Resources (HR) with Business Strategy [Online], Available from: https://educate360.com/blog/align-human-resources-hr-with-business-strategy/, Accessed 14^th November 2023.

Kristin Ryba, 2021, How to Align Individual, Team, and Organizational Goals for Success [Online], Available from: https://www.quantumworkplace.com/future-of-work/how-to-align-organizational-goals, Accessed 13^th November 2023.

 

 

 

 

 

 

Create Competitive Advantages Through Human Resource Strategies

 

One of the key success factors of high-performing organizations is giving priority to their people. Traditionally, competitive advantage was gained through factors such as production capacities, research laboratories, financial resources, distribution channels, and economies of scale. Though these factors are still relevant but they are not sufficient for success in today’s business world. It is commonly acknowledged that people are the key assets in the new world market and that all other assets are nothing more than commodities that can be purchased at market prices, but only the human asset has the potential to learn, grow, and contribute (Dr. Jac Fitzenz, 1995).

HR strategies can help companies attract and retain top talent, develop a strong culture, and boost employee productivity and engagement.

By investing in employee development, creating a positive work environment, recognizing and rewarding employees, and measuring and tracking HR metrics, companies can use HR strategies to create competitive advantages.

 

V Skills Certified: Human Resource based Competitive Advantage

Here are a few tips on how to create competitive advantages through HR strategies:

• Align HR strategy with business strategy.

The first step is to ensure that your HR strategy is aligned with your overall business strategy. What are your company's goals and objectives? What kind of talent do you need to achieve these goals? Once you understand your business needs, you can develop HR strategies that will help you meet those needs.

• Invest in employee development.

Investing in employee development is one of the best methods to get a competitive edge. When employees feel like they are constantly learning and growing, they are more likely to be engaged and productive. Employee development can be funded by tuition reimbursement, mentorship programs, training initiatives, etc.

• Create a positive work environment.

A positive work environment is essential to attract and retain top talent. Employees want to work for companies where they feel valued and respected. You can create a positive work environment by offering competitive salaries and benefits, creating opportunities for advancement, and fostering a culture of collaboration and respect.

• Recognize and reward employees.

Employees want to feel appreciated for their hard work. You can recognize and reward employees for their achievements through performance reviews, bonuses, and employee recognition programs.

• Measure and track HR metrics.

Measuring and monitoring HR metrics is crucial for determining what is and is not effective. Employee engagement, employee satisfaction, and employee turnover are a few important HR KPIs to monitor.

A company can attract and retain top talent, boost employee morale and productivity, and drive innovation by creating a culture of diversity and inclusion. By providing opportunities for advancement, the employees will be motivated and engaged, which makes them more likely to stay with the company. It will make employees believe that they have opportunities for advancement and career development. These will help the company to gain competitive advantages and drive to success.

References

Deloitte, 2009, Creating value through HRb [Online], Available from https://www2.deloitte.com/content/dam/Deloitte/de/Documents/human-capital/creating-value-through-hr.pdf,  Accessed 28^th Oct 2023.

Patrick M. Wright. Gary C McMahan and Abagail McWilttams, 1994, Human resources and sustained competitive advantage: a resource-based perspective [Online], Available from: https://www.researchgate.net/publication/239667389_Human_resources_and_sustained_competitive_advantage_A_resource-based_perspective, Accessed 28^th Oct 2023.

Scholley Bubenik, 2019, Can HR Strategies Create A Competitive Advantage For Your Company? [Online], Available from: https://www.forbes.com/sites/scholleybubenik/2019/02/18/can-hr-strategies-create-a-competitive-advantage-for-your-company/?sh=fdf2b8158563, Accessed 28^th Oct 2023.

V Skills Certified [Online], Available from: https://www.vskills.in/certification/blog/human-resource-based-competitive-advantage/, Accessed 28^th Oct 2023.

William S. Brown, 2021, Strategic Human Resource Management for Competitive Advantage [Online], Available from: (PDF) Strategic Human Resource Management for Competitive Advantage (researchgate.net), Accessed 28^th Oct 2023.

Importance of Genuine commitment to Human Resource Development (HRD) in the Public and Private Sectors

 

Human Resource Development (HRD) plays a significant role in ensuring the success of an organization and the success of employees' career and personal lives. The growth and expansion at the organizational level would eventually translate to economic growth at the macro-economic level. Therefore, the significant role of Human Resources Development (HRD) is needed for the desired social and economic growth and development.

 

Sustainable Development of Human Resource, Paris, 2007.

 

“Nigeria is blessed with different natural resources and in the midst of the wealthy resources, it is still rated as a third-world economy. The leaders and the political class have failed in their primary assignment of developing the right persons that will harness the various natural resources in Nigeria. Human capital development hasn’t been given due attention yet. Nigeria is acknowledged as one of the most heavily populated countries in Africa with its labor free with large and ample natural resources. Ironically, the nation has witnessed slow economic growth despite the presence of these resources Observing this occurrence; Udabah (1999-69) stated that the fact that a country is blessed with natural resources does not mean it will do well in terms of growth and also it does not mean a country without natural resources will not excel. It is  clear  from the statement that  human capital development is  highly  important for the government to adopt  policies that are  applicable  to  the  development  of  human  capital investments.” (African Journal of Economics and Sustainable Development, September 2021).

AID THE STUDENT: Natural resources in Nigeria, uses and their locations (Discover Treasures)

The question is, how were Japan's extraordinary achievements after World War II achieved? Japan has small land holdings, no minerals in large commercial quantities, and no crude oil, unlike Nigeria.

How has Japan managed to maintain a very high employment (about 2.64% unemployment in 2022), a low level of inflation (about 2% in 2022), a strong currency, fast growth, leading in electronics and robotics or explain Japan produces an average of 7 million cars per year?

What is the secret? The secret is if any Country needs to attain growth and development, it must invest in human capacity development which there is no alternative to investing in education and training of Human Resources, (Ejiogu, 2001).

Furthermore, the next phase of capitalism may be human resources. Because Human Resources is intellectual capital and human capital of company, and human capital may create firm performance for firm, (Peter Drucker, 2015).

The study revealed that the quality of labor (skills, knowledge, and attitudes) determines an organization's ability to survive and the economic growth of a country. Formal and informal education also plays a major role in labor quality and education is a crucial prerequisite for achieving real economic growth through enhanced human resources.

There is a strong positive link between investment in education and economic growth, where a 1% increase in human capital growth accounted for 11% increase in GDP growth rate, though this strong significant and positive link was pronounced in countries with better allocation to education (Wilson & Briscoe, 2004).

HR Avant-Garde, Apr 2015, HR Articles

According to these findings, employees are no longer seen as simple tools used to achieve financial goals but as resources that need to be valued and preserved so they can continue to contribute to the company, family, and community in general.

For HRD to be effective, it is important that organizations have a genuine commitment to it. This means more than simply providing employees with training and development opportunities. It also means creating a culture where employees feel valued and respected, and where they are encouraged to grow and develop.

By demonstrating a genuine commitment to HRD, organizations can create a more skilled, motivated, and innovative workforce that creates unique value for the organization and is difficult to imitate by competitors. This can lead to improved performance, increased productivity, and better outcomes for the organization, employees, and society.

 

References

Deinibiteim M. Harry (Ph.D) and Emeh E. Onyinyechika, 2021. Human Resource Development and Economic Growth in Nigeria

Gürhan Uysal, Ondokuz Mayıs University, Samsun, Turkey, 2017. Impact of Human Resource Management on Economy: Firm Management Perspective

Kudus M. Bakare, 2020. Impact Of Human Resources Development on Economic Growth

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