Human Resource Management Essay Example | Topics and Well Written Essays - 500 words - 9

Human Resource Management - Essay Example It is essential to have a workforce that understands cultures of various regions and markets; therefore, a multi-talented and multicultural workforce is necessary in modern businesses. As a human resource manager in the business, I would ensure that recruitment policies allow admission and employment of multicultural workers. This will make the business able to penetrate different markets and regions in its expansion approaches. One of the advantages of this index is that it provides the human resource department with various financial-performance metrics. In addition, it helps business managers to make effective assessments of their investments in human resources. Alternatively, the index is essential in testing the belief of whether it is profitable to manage human capital effectively in a business. This way, the business can determine the most reliable pay structures for its human resources and other benefits for them to be productive. In the business practice, I would make use of the index in determining efficiency of employees in order to know the pay structures that should be assigned to different workers. This will be essential in paying employees and giving them benefits commensurate to their abilities and dedication to the business. Outsourcing, as a business practice is defined as the act of contracting out various business processes to other external parties. In some case, the process of outsourcing requires transferring the employees of a business, as well as its assets to another firm. As businesses expand, the need to focus on its core competencies becomes paramount; in this case, its human resources can be strained. Outsourcing some of the business practices becomes essential in helping the business to put emphasis on its core competencies to succeed. In the human resource department, I can use outsourcing to ensure that as the business grows, some of its activities like product promotion are outsourced to other expert groups so that