The business world today is increasingly appreciating the importance of Human Resource in creating value and wealth. It is understandable that individuals are the center for generating new ideas as business nowadays survives on innovative ideas. There was a time when wealth creation was thought to be dependent on the technology and capital of an organization, but this concept is now being reconsidered.
What makes the difference in present day businesses as compared to those of olden days? It is the Human Resources. The orthodox management notions never emphasized the value of human resources to a great extent. At present all corporate sectors have developed a strong faith in the harmonious existence of spirituality and management which creates happy and creative individuals who enhance the quality of work and productivity, and ensure better service to the customer. The globalized form of businesses is in constant need of formulating dynamic policies for the functioning of business which includes human resources on a global scale. A universal scenario of human growth and development is the vision for all business houses dealing in international trade.
Business is essentially a human enterprise and hence faces all the challenges of human relationships. In addition, the essence of ethical business is to take up the challenges in a fair, loving, liberal, and compassionate way. All corporate houses have felt the need of a spiritual touch with the values in the life of an employee which keeps the work life and the family life of an individual balanced. It was discovered through research that the employee carries personal problems to the work place and hence continues to be grumpy, quarrelsome, dissatisfied, and inefficient while at work. To counter this, corporations across the economic spectrum have plans for various short-term courses for their employees. Many business houses have provided their employees with courses on stress management. These short term benefiting courses help in the personal growth of individuals.
In many large corporations, progressive executives are making a great difference with their erudition. The pattern of organization has been altered in offices so as to reduce reliance on hierarchy and increase communication between all levels. Human resources are now as valued as economic or hi-tech resources so they are explored by constant guidance, teaching and promotion. In an organization the Human Resource Department is said to be the central department of all the other functional areas of management.
If we go back in history, we find mention of human resources and proper administration in civilizations as diverse as Egyptian, Mesopotamian, and the Indus Valley. So with time the dynamisms of management have changed but the nucleus remains the same. In any sphere of life we cannot isolate human beings.
Today business houses symbolize a social establishment for the promotion of the social aspect of individual employees. If one wants to be competitive in the 21st century, then one should have the attitude to change and transform according to the environment. By this process of transformation, we can create an enlightened society, and a principled and flourishing business house.