Are Employees the Most Important Resource to an Organization? Discuss
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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In any organization, employees are regarded as an essential asset in regard to expertise and capabilities. Employees in an organization are referred to as the utmost cherished asset, also known as the driving force and they are very significant towards attaining success in an organization. They perform or carry out the responsibilities and activities that contribute to the organization's growth and development. Therefore they ought to be shown respect, and treated fairly and they should be provided with ample opportunities to learn, grow and develop in the business. Employees maintain the standards and principles of the organization and act with reliability, competence, and responsibility to the organization.
The primary basis of a competitive company is reflected in the behavior of its employee, once they are satisfied, highly motivated, and loyal, the company is deemed to be competitive and most likely to be successful. Employee satisfaction is usually reflected in an increase in productivity, and improved quality of the goods and services among so many other factors.
In this assignment, the researcher evaluated the notion and concluded that one of the most important strategic resources of an organization is its employees. The core conclusion of the assignment was that an organization’s workforce is a very critical strategic asset that can enable it to achieve its set goals and objectives. I also went ahead and discussed the various challenges and best practices for managing an organization’s workforce efficiently and resourcefully. Without employees, the organization is unable to operate efficiently. For that reason, for an organization to grow and compete effectively and be successful in the long run, it ought to invest in training its workforce.
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Are Employees the Most Important Resource to an Organization? Discuss A Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Understand the concept of human resource management and its role in organizational performance, and analyze the factors that influence employee motivation, satisfaction, and retention.
- Evaluate the benefits and challenges of employee empowerment, engagement, and participation, and compare and contrast different approaches to managing employee diversity, equity, and inclusion.
- Apply ethical principles and best practices to employee relations and conflict resolution
1.0 INTRODUCTION
Are Employees the Most Important Resource to an Organization? One of the most asked questions that managers and business owners ask themselves from time to time more especially in today’s competitive world. Employees in an organization are not just a liability, they are valuable assets that contribute to organizational performance and its success.
Employees are very important for an organizations competitive advantage because of a number of reasons among which include the fact that they have distinctive knowledge, skills, abilities, and attitudes that are challenging to duplicate or substitute by competitors.
These can help the business to create unique value to customers, and to innovate and adapt to changing environments, and also collaborate and coordinate with other stakeholders. Employees also impact the firm's culture, reputation, and social responsibility among others, which are intangible factors that can enhance the firm's image and attractiveness.
Employees are important for a firm's competitive advantage. They can act a source of motivation, commitment, and loyalty. When they are satisfied, engaged, and empowered, they perform better hence an increase in productivity that contributes to the growth and development of an organization. They also tend to be more resourceful, active, and supportive, which can foster a positive organizational climate and a learning culture. Employees who feel valued and respected by the firm are more likely to align their goals and behaviors with the firm's vision and strategy, and to support its growth and development.
As a result, it can be argued that employees are indeed the utmost strategic important resources that help a firm to generate competitive advantages. However, this does not mean that employees are automatically beneficial or productive for the firm. The firm needs to invest in its human resources by providing them with adequate training, development, compensation, recognition, feedback, and support. The firm also needs to manage its human resources effectively by aligning them with its objectives, values, and culture, by involving them in decision making and problem solving, and by fostering a climate of trust and cooperation. By doing so, the firm can leverage its human capital and achieve sustainable competitive advantages in the market.
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