strategic human resource management

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strategic human resource management

Category: Essay

Subcategory: Human Resources

Level: Academic

Pages: 2

Words: 550

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Date:
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Human Resource Management
The fair work act of 2009 ushered in a new period of rights at work, pushed and perhaps most appreciated by the unions. Over the years, there has been back and forth lobbying between various groups, with business groups on one hand, and the unions on the other CITATION ACT11 l 1033 (ACTU). Businesses might feel threatened, but that should not be the case, as there are many ways through which they can leverage labor relations and human resource management to their advantage.
A business taking additional steps in terms of managing the workforce stands to benefit from the advantages of human resource management. Human capital is extremely important to the company bottom line. It must, therefore, be understood and managed to enhance productivity. Human resource management is important in such aspects of employments budget control, where a strong HRM system ensures low workforce management costs, competitive wage setting and fair analysis and appraisal.
Employee satisfaction might seem ambiguous, but its importance to performance makes HRM more important. Through a strong Human resource strategy, employees will receive the right responsibilities and continuous training and development. These have a positive correlation with employee motivation, self-efficacy, self-esteem and loyalty to the organization; all of which positively affect performance.
Conflicts in the work environment are inevitable, and when they happen, hu…

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