Measuring the Effectiveness of Human Resource Management. In a world where everything is about organizations bottom line, it is important that the effectiveness of HRM systems are measured and evaluated from time to time. As it comes at a high cost and is needed to be updated as the everchanging pattern of global trends and needs vary instantaneously. When it is ineffective, you’re at risk of hiring the wrong people and losing valuable employees. You might even waste time and money on various processes which are not in-line with the needs of your organisation. The implicit assumption is that if HR is done well, this will somehow make organisations perform more effectively (Ferris et al., 1998) How to measure HR effectiveness? Figure 01 You will need to look at some key performance indicators (KPIs). The exact KPIs you choose might vary slightly depending on the goals of your company. Eg. A larger company could include internal mobility among these KPIs. But...
Managing Your Human Resource Humans are the most important resources within an organisation as they are essential, as well as one of the most challenging resources for managers to handle as they are responsible for the tasks that will ease the development of any & every organisation. As Human resource managers, one must make a thorough and well-thought-out selection of the team to ensure members are suitable and skilled for the task in question. Firms profess that people are the source of their competitive advantage, whether they be technological experts, accommodating customer service experts, or visionary managers...At a time of unparalleled technological development, it is the human resources that paradoxically spell success or failure for all firms, and especially entrepreneurial ones’’ (Katz, Aldrich, Welbourne, & Williams, 2000) We have identified a few components to manage your human resources more efficiently- 1. Knowing which skills you need - Figure 01 Kn...