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why hr is called the most important asset and competitive advantage of any organization in the world why hr is called the most important asset and competitive advantage of any Organisation in the world ​

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Human Resources as an important asset for companies

4384 words (18 pages) Essay in Business

5/12/16 Business Reference this

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The human resources are the most important assets of an organization. The success or failure of an organization is largely dependent on the caliber of the people working therein. Without positive and creative contributions from people, organizations cannot progress and prosper. In order to achieve the goals or the activities of an organization,

therefore, they need to recruit people with requisite skills, qualifications and experience.

While doing so, they have to keep the present as well as the future requirements of the

organization in mind.

Recruitment and selection, as a part of effective Human Resource Management is the key to achieving a competitive advantage for an organization. Nowadays, one of the most important concerns for all the business is that of people. The emphasis is on having the right people in the right place at the right time (Lanz, 1988). Seeking new employees is an essential element for each employer, not only in organisations where particular emphasis is placed on the company’s human resources policy. Each employer wants to hire the most appropriate candidate for the job who not only has the right qualifications but whose personality will blend in well with the company’s structure. The choice of the right people to form a team in organization is one of the most important factors leading to its success. Hence, to achieve this, a company has to pay a huge attention on the recruitment and selection process. Effective recruitment and selection procedures are vital in attracting and retaining high quality staff so every company should take them deeply into consideration. Moreover, human errors are much more expensive in comparison to such assets as land and capital, and often result in serious irreversible consequences.

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