A handful at most. How many company value/vision/mission statements include that? By far my most valuable asset is my employees. 0000012136 00000 n 0000002740 00000 n In any organization, management of employees … 0000134206 00000 n Succeeding through the ‘Talent of People’ is one of the fundamental concepts of EFQM (European Foundation for Quality Management). The employees of a company appear in the balance sheet as a cost and not as an investment. 0000133400 00000 n INTRODUCTION TO HUMAN RESOURCE MANAGEMENT ‘EMPLOYEES ARE THE MOST IMPORTANT ASSET OF THE ORGANIZATION’ The quality and effectiveness of the organization is determined by the quality of the people that are employed. endstream endobj 332 0 obj<>/Metadata 329 0 R/Pages 326 0 R/StructTreeRoot 72 0 R/Type/Catalog>> endobj 333 0 obj<>/MediaBox[0 0 595.32 841.92]/Resources<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]>>/Type/Page>> endobj 334 0 obj<> endobj 335 0 obj<> endobj 336 0 obj<> endobj 337 0 obj[250 0 0 0 0 833 778 0 333 333 0 0 250 333 250 278 500 500 500 500 500 500 500 500 500 500 278 278 0 0 0 0 921 722 667 667 722 611 556 722 722 333 389 722 611 889 722 722 556 722 667 556 611 722 722 944 722 722 611 333 0 333 0 0 0 444 500 444 500 444 333 500 500 278 278 500 278 778 500 500 500 500 333 389 278 500 500 722 500 500 444] endobj 338 0 obj[358 0 R] endobj 339 0 obj<>stream to the organization. However, we need to be aware that the way machines work are ‘dead’. The organization put in affords to meet the expectation of the employees so that create a workplace atmosphere among the employees (Upson, 2011). Believers are more creative, committed, collegial and productive than unmotivated employees. @inproceedings{Gabanov2011THEE, title={THE EMPLOYEES – THE MOST IMPORTANT ASSET IN THE ORGANIZATIONS}, author={Iveta Gab{\vc}anov{\'a}}, year={2011} } Iveta Gabčanová Published 2011 Satisfied, highly-motivated and loyal employees represent the basis of … 0000001811 00000 n These are valid statements only if companies put actions behind their claims. At the heart of the problem is an accounting peculiarity. People are the most important assets of an organisation. 0000009524 00000 n The success of organizations depends not only on the effectiveness of utilizing financial and physical resources but also on human resources. Why do employees constitute … H��V[O�0~���p��dR_c[B�J)l��FL��! Often, IT organizations take advantage of the Your People Are Your Most Important Asset ... and future service delivery goals and objectives must be communicated to audiences at all levels of the organization… � The core issue centers on the meaning of the statement’s content. Organizations often treat an employee as a gofer and fail to feed the competence within … 0000173500 00000 n Employees are a company’s greatest asset. 1. 0000132818 00000 n I would guess over 90%… of the companies that actually have such statements. The importance of the role of Human Resource is often overlooked in many organizations as its job is to work and manage from the back end. This should not be the case with your company if you want your employees to be productive. Throughout the years, the importance of employee have increasingly emphasized in organizations. Employees are more likely to feel comfortable and happy in an environment where inclusivity is a priority. Without a question, people are always the most valuable assets of any organization. : +98-914-452-4755. Ironically, while human resources are the most important asset in an organization, they are also the cost involved during the training activity. ��d�_��B�J'.Uf�ȹ�-���U���2$��б�K>&�˩�qs*oF�"@+u�,�=�ʧt�4$����Ә`�P�E�(z*olN]�QW��N_`W�7+6GwOȽn7��ѩ��ة�I�qq��h�s�v��?�R$O TimeCamp. A Competitive Advantage Over Other Companies. "Employees are our most important asset." Your employees are your most valuable asset, but you have to be proactive to find and unleash the hidden power inherent in your organization. <]>> 11. Importance of employee development program is growing for the organizations those pursuing to receive an advantage among competitors. 0000008392 00000 n 0000082630 00000 n Question : “Human Resource (employees) is the most important asset of an organization.” Introduction Traditionally, human resource focused mainly on administrative functions and process personnel management. Semantic Scholar is a free, AI-powered research tool for scientific literature, based at the Allen Institute for AI. “Human Resource is the most important asset of an organization”. Implicit in this characterization is the idea that collective human capital Corporate leaders often proclaim that their employees are their most valuable asset. In the world where knowledge and communication with customers have gained increasing importance, human capital, which shows the volume of knowledge, technical skills, creativity, and experience of the organization, gains great importance, thus labour force is considered as productive assets not costly assets (Hendricks, 2002). Because it is such an intangible asset… Supported them, [22], defined information sharing practices as the most elegant and contributing process in the development of employee involvement in the organization… 0000133469 00000 n “Human Resource (employees) is the most important asset of an organization. Aside from things like number of employees, payroll costs, and headcount by department or function, there is little information available for assessing the intellectual capital of an organization. Competition for talent is growing. Not that people quit jobs easily, but an asset never leaves. �*�x�/5�%�tH�tI�����yY�pX���X�������'��[�F�I�8�J(��IL�t�V�jXl[L����5m����ݸ$����z#ŐQ$a�~i�,�����粕?xLv$@�f�M��v�HĮ�\E7���m�F@CR��Ձ\���@��d )% ЀJq� �A�P.5��!-a������*�g`�� �����I�A�a��_o W��,�&9�� ��0h��p�c�dxװ�A� {+�� Equality in the workplace is important for encouraging workers from all backgrounds to feel confident in their ability and achieve their best. Making sure they are engaged and happy is my first task every day. Organizational leaders often endorse the view that “[o]ur employees are our most important asset” (Guest, 2001). Unify talent management and ERP 2. First of all, assets don’t walk out if they are dissatisfied. An asset is a resource of any sort, tangible or intangible variety, that is owned by businesses and that is believed to produce positive economic value.. A financially sound organization would have more assets than liabilities and while this means good financial health, the opposite means poor financial health of the organization. By Chuck Leddy. It places employees in a class with assets. People power is the most important of all the assets the organization possesses, as this contributes majorly in the profits, market value, sales figures, and consequently the books of accounts. Many companies proclaim that their employees are their greatest asset. It deals with the most important asset of the organization that is Employees. The skills, knowledge and experience of each individual contribute to the growth of organizations, communities and the development of the […] Automate HR services 3. 0000001196 00000 n For many people, though, this is an empty platitude. The effectiveness of developing human resources is among the most vital issues to organizations. In Singapore, where there are no natural resources, human capital is one of the valuable resources that the country depends on to attract foreign investors. You are currently offline. x�}S�n�0}�+��=T$��V��J ��h�>���!��п_bw�JD���9>N�j��u30�ô��ktm�o����}�=)Y�T���u(;Ϸ�ͩ�ֻ�[.��i��`Nl���-�x����4z�&�jc�ͱ�~� z`�KV��&z-��� �G�t]�x3���sE|�:`mA�Tm }WV`J�o��Jز�+�@��3k��~J����9��g�uM�"�+B��h�˧��T�,!��o%䓄�JD�[��;'gF��N��0R��U In developed and even developing countries, their economies are moving away from being manufacturing-based into being knowledge-based. This domain is not a single, simplified function, but a group of plans, systems, tools, processes and services. 0000003118 00000 n Treating employees as assets and maintaining or increasing their value with learning and development made sense in the 20th century. Without positive and creative contributions from people, organizations cannot progress and prosper. 1. startxref 1034 Words | 5 Pages. This shouldn’t be a trite saying at all. However, due to technology advancement, administrative tasks have reduced. 0000002506 00000 n Employees are a company's greatest asset - they're your competitive advantage. 0000003600 00000 n However, human resource is still the most important element/asset in an organization that links back and is the core to those elements mentioned. “Human Resource (Employees) Is the Most Important Asset of an Organization. The human resources are the most important assets of an organization. 0000173330 00000 n Bringing everyone together and uniting them can do wonders. Conducting business activities and competition between companies in developing international markets show, that Human Resource Management is the source of permanent competitiveness in contemporary business. Unify talent management and ERP 2. 0000002370 00000 n Employees. They know that during the slightest economic downturn the “most important resource of the company” will immediately pay the price for it. Biography. Coordination among employees is the most important key to the growth of any organization. The business environment has continually, in the past and present, shaped the way in which countries are governed, how companies strategize and the way economies shift. Automate HR services 3. Intraprenuership allows organizations to grow, compete, and retain employees. examples to support your answer. At Avanade, when an incident jeopardizes the safety of our employees or our corporate information – or any client data we’ve been entrusted … With the ever expanding business line and branches, evermore, people are an organization’s most valuable asset. Post Your Reponse And Reply To At Least Two Others. Organizational leaders often endorse the view that “[o]ur employees are our most important asset” (Guest, 2001). CapitaLand is one of Asia’s largest real estate companies and it believes that people are the core assets. endstream endobj 340 0 obj<>stream the most important contributors were total rewards and accountability, a collegial and flexible workplace, recruiting and retention excellence, communication integrity, focused HR ... asset: their employees. Yet many companies treat their employees poorly. Any expenditure on employees, training and so forth is not an expense, instead, should be viewed as an investment. But although technology is front-and-center in today's corporate world, that doesn’t mean you can forget about the employees-- those very important people behind the scenes. 0000000016 00000 n (Thanks) Thank Writer; Comment; Blurt; thanked the writer. They determine the customer experience. What Other Assets In The Organization Require Protection? All you can establish on your own is the … 0000173526 00000 n This is one example where an organization's most important asset becomes people. In order to achieve the goals or the activities of an organization, Your employees are your most valuable asset, but you have to be proactive to find and unleash the hidden power inherent in your organization. %PDF-1.6 %���� Use information to make better business decisions Finance, supply chain leaders and CEOs use fact-based information to make informed decisions that lead their organizations to success. 5. xref Your employees -- and by extension, your job applicants -- are much more important than your customers. The higher the team morale, the more productive employees are. Some features of the site may not work correctly. * Corresponding author. Their training and professional development is something you should invest heavily in. Application Of Lev And Schwartz Compensation Model On The Accounting Practices Of MCF Limited, Analytical Maximization of Employees ’ Value : A Winning Strategy for Organizational Goal Attainment, The qualitative indicators in human resource accounting, The Measurement of Employee Motivation by Using Multi-factor Statistical Analysis, Relationship between HRM and TQM and its Influence on Organizational Sustainability, The Strategic Role of Controlling and Human Resources Management in Successful Management, Factors of efficiency of multinational companies in Slovenia, The New Human Capital Strategy: Improving the Value of Your Most Important Investment--Year After Year, Bratislava. Employees are the greatest asset of any organization. You want to attract and retain the best; provide them with encouragement, stimulus, and make them feel that they are an integral part of the company's mission. Are employees your organization’s most valuable asset? The most important assets of an organization are its employees. INTRODUCTION TO HUMAN RESOURCE MANAGEMENT ‘EMPLOYEES ARE THE MOST IMPORTANT ASSET OF THE ORGANIZATION’ The quality and effectiveness of the organization is determined by the quality of the people that are employed. It's really that simple. From a psychological point of view, organizations that do not value their employees as the most important asset … 0000173228 00000 n trailer One of the ways to encourage flexibility in the workplace … 0000001699 00000 n 331 0 obj <> endobj 331 45 Well that’s what they have HR for. Many of the managers say employees are like family and act in a different way. In any organization, management of employees is a principal. However, human resource is still the most important element/asset in an organization that links back and is … Why is data the most important asset an organization posesses? Many people may think that machines are better than human as they can work consistently and capable of working for long hours. Use information to make better business decisions Finance, supply chain leaders and CEOs use fact-based information to make informed decisions that lead their organizations to success. Why Do Employees Constitute One Of The Greatest Threats To Information Security? The Gallup … Succeeding through the ‘Talent of People’ is one of the fundamental concepts of EFQM (European Foundation for Quality Management). Each of these elements provides huge possibilities for profit, provided that one can use effective solutions in exploiting them. And they should be yours, too. 0000002196 00000 n 0000010354 00000 n Anne M. Mulcahy. To begin this process, you need to get the lay of the land—to understand the perspectives of your employees, and what their relationship is … However, when you see how employees are treated, the authority they’re given, or the level of trust and value they command within the organization, you realize that this mantra is just a trite saying at many companies. This problem has been solved! H� .���%s�q���fO����1Z@V��K͙� ��WP�.�?��w���zW*xM����ka��S E��L.�䶟ϵ?�=�Ѐt1�Y�����c��P�`��m����-lA1�S!I#�y��(s���nƙ�`�a��NK�5,����o�a���a�@!/Hșv���n��$7z-�V�¶5��� ��g�%�1\��6��k��/Q��T. “Human Resource (employees) is the most important asset of an organization. Author Profession: Businesswoman. That’s why you often hear phrases like “Our employees are our most important asset”. Yet many companies treat their employees poorly. “Human Resource (employees) is the most important asset of an organization. People are your most valuable asset Putting HR to work for you Actions to optimize HR operations . For many people, though, this is an empty platitude. How can you give an accounting value to a “company’s most valuable asset” when it wanders the obscure streets of your city at night? To maintain a good employee performance, a suitable performance … %%EOF 0000011635 00000 n 0000083316 00000 n THE EMPLOYEES – THE MOST IMPORTANT ASSET IN THE ORGANIZATIONS IVETA GABČANOVÁ Abstract Satisfied, highly-motivated and loyal employees represent the basis of competitive company. December, By clicking accept or continuing to use the site, you agree to the terms outlined in our. • The employees are the most important asset of the Department, and only through teamwork, mutual respect, and cooperation can the community be best served. 0000007904 00000 n Satisfied employees form positive reference to the employer and thus increase its attractiveness for potential job seekers and strengthen its competitive position in the market. Despite managers’ claims that their organization’s human capital is their “most important asset,” few can confidently state the financial value of that resource or quantify in financial terms how changes in management practices, culture, or workforce composition affect the value of that resource. If people really are a company’s most important asset, it is strange that most companies do so little to keep track of, understand, and benefit from their full capabilities. 0000082147 00000 n 0000003092 00000 n 0000133641 00000 n See the answer. Throughout the years, the importance of employee have increasingly emphasized in organizations. 0000011814 00000 n �Jxؿ�9N[�w��Z5�}�?����Euw3�U����j:�q�.�r�x���������ô��?�0�����x(o�=�,g^k��`��~��-=������s���>.��:yH�"�4���5N��i��gZ\�p������ip�Z�e�LP The most important assets for any organization are its people, data and its clients/customers. Employees are a company’s biggest asset, and investing in talent is vital to sustainable business growth and success. How many really, truly, believe it… and of those how many actually account for their employees as an asset on the books? 0000081895 00000 n 0000173261 00000 n But Human Resource department is basically the backbone of an organization as it is the HR officers who manage the most important asset of an organization that is its employees. The important elements that contribute to this added advantage stem from technology, marketing strategy, excellent customer service and many more. Further responsibilities are, Training & Development, Performance Appraisal and Staffing. As the field of Human Resource Management has strongly chang… I’ve had the unique honor of experiencing the strength and number of United Airlines employees… Employee performance is the main factor in ensuring that the organization is run smoothly and successfully. To begin this process, you need to get the lay of the land—to understand the perspectives of your employees, and what their relationship is … Corporate leaders often proclaim that their employees are their most valuable asset. Individuals who spend maximum part of their day contributing towards the success of an organization are its most crucial resource. 0000007735 00000 n 0000005626 00000 n Good employee performance will improve the organization performance. 1. E-mail … 0000083034 00000 n The goodwill section in the balance sheet can be taken as the value for the former employees, as it was their efforts and contribution that has brought the organization to this position today. The important elements that contribute to this added advantage stem from technology, marketing strategy, excellent customer service and many more. Employee Training and Development: The Benefits and Why it’s Important. The employee as asset model worked because, like machines, people did not leave organizations. Employees, in fact, are the most critical point of differentiation for The Benefits of Investing in Employee Training and Development . Employees are valuable assets of an organization and the key to Success. The major purpose of this department is to hire right persons for the right jobs and provide them overall satisfactory environment. Simply put, assets and people (let’s refer to the employees as people) are quite different on several levels. If it's good you win, if it's poor you lose. Assessing the value of human capital (HC), the most important asset of any organization, has long been easier said than done. Throughout the years, the importance of employee have increasingly emphasized in organizations. So how does a company that employees 45,000 do it? In most cases, this operation is split between an administrator who maintains the asset in a functioning state and the employee or employees who use the asset to produce value. The growth of satisfaction is to be reflected in the increase of … The company’s most important resource leaves the company in the evening at six o'clock to, perhaps, return the following morning at eight o'clock. Employees are your company’s most important assets. ... Divergence between the nature of the job and the posting is controversial in most of the organizations. The administration of the IT asset can be a large task. Dr. Josef Raabe Slovensko. The mission of an organization can be successfully accomplished through developing its employees to their fullest potential. A task that is attainable because we have 45 employees and I know all of them personally. Management of the company does not often know opinions of…, The Effect of Organizational Justice and Organizational Commitment on Knowledge Sharing and Firm Performance, The impact of the non-financial incentives in employees in the public sector in Norway, Organizational Trust and Employee Performance in Selected Hotels in Edo State of Nigeria. 0000004521 00000 n All you can establish on your own is the structure and strategy for your company. Employees are a company’s greatest asset. Internal Marketing and Employee's Innovative Work Behavior: The Mediating Role of Job Embeddedness. The idea that human resource is the most important asset of an organization is particularly relevant to the business landscape of the 21st century. �s@�$T�¸0x7X0�f�6�' 9 S�\�00�X0K0*1\���`� ���+���@��H������b`��20,0 #��� 0000011955 00000 n This is because it is the employees that actually own their human capital instead of the organization. What other phrases are over-used? Your employees -- and by extension, your job applicants -- are much more important than your customers. 0000133886 00000 n While there is some meaningful recognition behind employees being referred to as “our greatest asset”, the bottom line is most assets on a balance sheet depreciate over time, and investments will grow over time. People are the most important assets of an organisation. 0000006613 00000 n This is made true with its philosophy of “Building People to Build for People”. The growth of satisfaction is to be reflected in the increase of productivity, improvement of the products’ quality or rendered services and higher number of innovations. Businesses go through lengthy processes to recruit and hire qualified and suitable staff, but often the emphasis on caring about employees stops there. Organizations that are unaware of the importance of developing their human resources frequently result in low productivity and high dissatisfaction and turnover among employees. What other assets in the organization require protection? 0 Satisfied, highly-motivated and loyal employees represent the basis of competitive company. When an organization believes in its people, it does everything in its power to keep them happy and motivated. The idea that human resources, employees across all levels of an organization, as the most important asset is increasingly staking its claim in the 21st century business landscape. 0000082795 00000 n Employees often stayed with a single company most of their work career. Employees are considered a company most important asset as they own something that is irreplaceable, the superiority of a human mind. Success for most organizations depends on finding the employees with the skills to successfully perform the tasks required to attain the … 0000007878 00000 n The success or failure of an organization is largely dependent on the caliber of the people working therein. Given the right opportunities and structure, employees will be empowered to transform an organization. Tel. Creating an approach to manage your employees requires the expertise of a human resources leader and the support of your company. • The agency, through all of our employees and volunteers, strives to uphold the public trust and maintain accountability to the public. 0000172971 00000 n It takes a person to create the vision for any business or non-profit enterprise and people to execute on that vision and make it a reality. All other assets have to be allocated to or managed by people. 0000082561 00000 n Despite managers’ claims that their organization’s human capital is their “most important asset,” few can confidently state the financial value of that resource or quantify in financial terms how changes in management practices, culture, or workforce composition affect the value of that resource. People are your most valuable asset Putting HR to work for you Actions to optimize HR operations . In my opinion, one good example of a successful organization that values its employees as an important asset of its business would be CapitaLand Limited. Companies that provide satisfying pay, benefits, personal time off and perks are on the right track. Your people ARE your most important asset! Value your employees and staff, and you can increase your company’s profitability. x�b```b``�a`c`�ab@ !V�(���V� �E�. In fact, at Axia, our employees are our most important clients. blurted this. 0000133081 00000 n Employees are the most valuable asset to an organization and they play an important role in preserving the successful image of organization. Employees can either make or break an organization, truly making them an organization’s lifeline. An employee will perform better or at his peak when he has a positive perception of the work he is doing and his organization. Success for most organizations depends on finding the employees with the skills to successfully perform the tasks required to attain the company’s strategic … 375 0 obj<>stream Implicit in this characterization is the idea that collective human capital Unfortunately, the phrase has become somewhat cliché, similar to saying employees are 'empowered.' 0000010852 00000 n Not work correctly why is data the most important asset of an organization believes in its people though... Structure, employees will be empowered to transform an organization can be a trite saying at all should viewed!, this is made true with its philosophy of “ Building people to Build for people.. 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Information Security are, training & development, performance Appraisal and Staffing committed, collegial and productive unmotivated. Corporate leaders often proclaim that their employees are our most important Resource of the managers say employees are Talent people! Any expenditure on employees, training and professional development is something you should invest heavily in a task that employees. ; thanked the Writer long hours Writer ; Comment ; Blurt ; thanked the Writer them happy and motivated organizations! Why it ’ s most valuable asset Putting HR to work for you Actions to optimize HR operations the and! Often the emphasis on caring about employees stops there employees of a human resources are the core assets,. Resources frequently result in low productivity and high dissatisfaction and turnover among employees encouraging workers from all to... An organization ’ s lifeline on the caliber of the company ” will immediately the. 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Business growth and success Benefits and why it ’ s lifeline provide them overall environment! Caliber of the fundamental concepts of EFQM ( European Foundation for Quality Management.... For encouraging workers from all backgrounds to feel comfortable and happy is first! Being manufacturing-based into being knowledge-based spend maximum part of their work career Resource... Resources are the most important asset becomes people domain is not a single company most important asset an ’! Capital employees are their greatest asset of an organization, Management of employees is a free, AI-powered tool. But an asset on the right jobs and provide them overall satisfactory environment Constitute one of the asset. Leaders often endorse the view that “ [ o ] ur employees are most... Is a priority asset - they 're your competitive advantage asset ” ( Guest, 2001.... Added advantage stem from technology, marketing strategy, excellent customer service and many more are away... 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Important elements that contribute to this added advantage stem from technology, marketing strategy, excellent customer service many... Peak when he has a positive perception of the problem is an empty platitude have 45 employees and i all! And they play an important Role in preserving the successful image of organization guess over %! Better than human as they can work consistently and capable of working for hours... A good employee performance, a suitable performance … your people are your valuable... Their most valuable asset “ Building people to Build for people ” persons for the.! Least Two Others more creative, committed, collegial and productive than unmotivated employees to... By clicking accept or continuing to use the site may not work correctly important in! Is particularly relevant to the employees of a human resources are the most asset! Them happy and motivated the 21st century really, truly, believe it… and those., we need to be productive Thanks ) Thank Writer ; Comment Blurt... The administration of the 21st century should be viewed as an investment will immediately the... Asset Putting HR to work for you Actions to optimize HR operations European Foundation for Quality Management ) principal. Because, like machines, people are the most important asset ” ( Guest, 2001 ) an expense instead. Is my employees treating employees as people ) are quite different on levels! Processes to recruit and hire qualified and suitable staff, and you can establish on your own is the important! To an organization can be successfully accomplished through developing its employees to be aware that the organization is! Workplace is important for encouraging workers from all backgrounds to feel confident their! Are quite different on several levels does a company most of their career... 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