The term human resources describes the people who form a company's workforce they are a vital part of
any business because their skills and capabilities ensure the company keeps being.
It is important to pay special attention to all issues that have to do with human resources.
Otherwise we risk decreasing the value of our most important asset.
By now we know personnel know how and our capabilities are one factor that enable us to build a sustainable
competitive advantage over the long run.
Many studies suggest a relationship between a company's success and the way its workforce is managed
and treated.
That's why world class organizations focus on issues like open communication between employees and managers
management by objectives involving input from employees and first line managers performance based compensation.
Access to Information for employees through frequent internal reports and high quality training and
development programs.
The goal of these tools is to increase employees motivation and engagement.
Build their skills and help them climb the corporate hierarchy.
Employers who treat their employees well and make them happy are often recognized as employers of choice.
Most people want to work for such companies because they recruit the best talent and retain the most
talented employees among the best global companies to work for in 2016.
Google Adecco Cisco 3M American Express and Hilton Google is the best global employer for four years
straight in Fortune's rankings.
Its employees say we love to work for the greatest company in the history of the world because everybody
in the company is world class at something.
Everybody has heard about Google perks but employees have shared that what makes the Internet giant
from special is the people there are smart hardworking motivated and socially responsible an employee
of Hyatt another employer of choice said I feel valued here.
The brand is great and the people who work here are great.
I feel that my managers and colleagues are supportive and that everyone is treated fairly and equally.
Hyatt recognizes dedicated workers and will help you progress.
You see this is how good H.R. management policies are built.
Successful companies hire talented candidates constantly enhance their knowledge and skills and compensate
them fairly based on their contribution to the firm's success.
If we have to recap the three primary goals of our management they would be number one.
Hire the right people.
This involves H.R. planning recruiting and selection.
Second managed the people hired.
Introduce employee training and development performance appraisal mechanisms and stress management mechanisms
and last ensure all employees are motivated engaged compensated fairly and fulfilling their duties.
Before we wrap up we need to mention employee termination.
This is a measure of last resort which also falls under the category of H.R. management.
We will study these topics in more detail in our next lessons so stay tuned.