Question: Write a short essay that discusses the following statement, using references and examples to support your answer. “Human Resource (employees) is the most important asset of an organization.
Throughout the years, the importance of employee have increasingly emphasized in organizations. With today's workforce becoming increasingly diverse and organizations doing more to maximize the benefits of the differences in employees, Human Resource managers are evolving from the old school side-line player to the front-line fighters. Organizations are relying on managers to get the people who get the job done, and of course, make the company money. An organization's success increasingly depends on the knowledge, skills, and abilities of its employees. Particularly as they help establish a set of core competencies which distinguish one organization from its competitors. When employees' talents are valuable, rare, difficult to imitate and organize, an organization can achieve a sustained competitive advantage.
In Singapore, where there are no natural resources, human capital is one of the main resources that the country depends on to attract foreign investors. In 1965, Singapore was officially separated from Malaysia. This called for internationalization for almost all of its economic activities, boosting Singapore’s economic growth. In the late 1970’s, after the oil crisis reduced recession, the Singapore see a need for greater selectivity in the industries it promoted to achieve more efficient labour usage. Educational in schools and training programs was introduced at that point of time to equip our workforce with the right kind of competencies to ensure that they will be an asset to the organization, producing greater output for the company. (Suresh Natarjan & Juay Miang Tan, 1992).
In the 21st century, training is still the key in Singapore and the government is investing over $2.5 billion over five years in continuing education & training as...
References: * Suresh Natarajan, Juay Miang Tan, (1992) The impact of MNC investments in Malaysia, Singapore & Thailand, Singapore, Spectrum Press Pte Limited.
* Radha Basu. 2nd april 2010, Training workers to move up value chain, AsiaoneBusiness, http://www.asiaone.com/Business/News/Office/Story/A1Story20100331-207739.html [1st Dec 2011]
* Torraco, Richard J, Swanson, Richard A, (1995), The strategic roles of human resource development, HR. Human Resource Planning, Vol. 18, Iss. 4.
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