Human resource is still the most valuable asset for an organization which mainly drives a company day to day despite the elements such as advanced equipment, new technology, good marketing strategy, excellent customer service and many other elements. Nowadays many organizations like to gain a competitive advantage in the market; skills, knowledge and experience of each individual directly impact the productivity and competitive advantage of an organization. In other words human resources determine the success or the failure of an organization. Employees are always related to the profitability of the organization and their abilities cannot be replaced by machines.
It is vital to manage and develop human resources of an organization in order to keep improving the abilities of an organization as a whole. Human Resource Development (HRD) is the framework help employees develop their personal and organizational skills, knowledge and abilities. HRD includes; employee training, employee career development, performance management and talent development, key employee identification, coaching, mentoring, succession planning and organization development.
Modern day organizations operate in a very dynamic environment and human resources need to be developed according to the changes taking place externally. HRD helps to adapt such changes through development of existing human resources. The human resource development opportunities are available both within and outside the work place. The focus would be to build the most superior workforce in order to meet individual and organizational goals and objectives.
Training and development plays a significant role in the process of HRD. It is important to identify the training needs of each individual or team in the organization in order to implement HRD in a proper manner and to fetch effective results. Training will help to improve performance on a currently held job for knowledge and skills. However development will help the employee to acquire capabilities beyond those required by current job which is holistic and aimed at personal development.
There are many advantages of HRD to the workforce and organization. Some of the advantages are identified below;
1. Increase in productivity – Improved skills, better understanding of the environment and abilities will result in most efficient use of available resources
2. Creates opportunity for career development – HRD helps to grasp the career development opportunities. Career development consists of personal development efforts though a proper match between training and development opportunities with the employer’s need.
3. Employee commitment – Trained and efficient employees are more committed towards their jobs.
4. Job satisfaction – Increased employee commitment inspires them for better performance, which leads to Job satisfaction.
5. Performance improvement – HRD helps the employee to perform organisational activities efficiently and effectively. This improves the performance of individuals and organisation.