Globalization has increased trading activities all over the world. It has enabled countries to trade with others without any restrictions, apart from the international rule and regulation of sales. However competition at the international market is stiff thus forcing many business enterprises to formulate strategies that will make them competitive in order to survive the market competition. The most appropriate strategy that has propelled many businesses into success is human resource management. Effective management of human resource provides guarantee towards success. This is due to the effectiveness it provides in utilization of organization resources. Therefore for a business organization to thrive it must be well managed. Below are some of the ways in which human resources can be utilized.
Salary should act as a motivator to employees. Employees of an organization should be paid their salaries based on their performance at the work place. Therefore the most hardworking and productive employees should be rewarded with a handsome salary. The performance of individuals should not only be rewarded based on the amount of products they produce but also based on the quality of products they produce. This is because there are some employees who do not produce many products but the few they produce are of high qualities and are preferred by customers. The more a business organization gains profit the more employees should be paid well. The other reason why employees should be paid well is to prevent them from leaving the organization. Employees who are underpaid can easily be lured by other company that will offer them improved salaries. Thus the most experienced and qualified employees need to be tied up in the organization by rewarding them with hefty salaries to prevent them from moving to high paying business organization.
In terms of education requirement, for a business organization to prosper in a competitive market it has to have a staff with big brains. Knowledge, integrity and good education background are key factors that make an organization becomes complete. Thus top business organizations that want to thrive in the business sector should employ knowledgeable employees who will enable the organization to achieve its objectives. Employees with good educational qualification are very important in the management of an organization. This is because they provide good business ideas that are vital towards the success of the organization. During decision making process knowledgeable individuals are required to make the right decisions which will increase the profit margin of the organization. Knowledge is also important in solving problems and challenges facing an organization. Therefore the top level of the organization should consist of individual with good educational qualification.
Skills and Competencies
Various skills are needed in business management. Among the skills required for good business management are interpersonal skills, integrity, leadership qualities, technical skills and conceptual skills. Some of this skills come from experience, others are acquired in class while the rest are comes naturally. Leadership skills are essential in organizations; good leaders are the ones who can inspire workers of an organization to perform exemplarily. Inspiring workers increase their team spirit thus increasing the productivity of the organization. Conceptual skills are important in solving problems affecting an organization. These skills are important in deriving solutions to problems that have constantly affect business proceedings. Technical skills help in getting the best results from human resources. It involves directing and managing employees of an organization in the right direction that will enable the organization to increase the level of income. Competencies are a managerial skill which leaders should have in order for them to excel in their work tasks. Managers should have good management skills that will enable them to organize employees in an orderly manner that will enable them to unleash their skills and potential.