He bought state of the art computers and gadgets that would make his
company at par with his competitors. After a year, his business went bankrupt
and some of the serviceable assets were taken over by the bank. Why did the
business fail considering that information technology related business is one
of most profitable business around? The
reason behind is drake neglected to nurture his human resource.
He heavily invested financial capital through acquisition of state of
the art computers and gadgets. However, he completely forgot to invest heavily
as well on the human capital side of his business which is the human resource.
Many forget that in spite of the modernity of time. Human resource is
still the most precious organizational resource that any organization could
have. What is the use of having state of the art equipments, attractive product
and good location if your human capital is neglected? Sooner or later your
business will fail if you forget to upgrade the well being of your human
capital.
Many are afraid to upgrade the wages/salaries of an organization’s human
resource because it will certainly create additional cost for the organization.
However, when you decide to pay your human resource higher than the prevailing
wages. You’re creating a happy, contented and motivated human resource. You are
offsetting the cost of labor turnover; you also create an engaged and mindful
human resource.
There are also many more unquantifiable benefits that your
human resource could bring into your organization when you begin to nurture
them. And these many unquantifiable benefits are more than enough to cover the
cost of increased wages and benefits.
Putting up a business or running a business is not only about earning
huge profit. It’s also about taking care of the most important resource of your
organization which is your human resource. – Marino J. Dasmarinas
No comments:
Post a Comment