The Increasing Importance of HR and People Management in the Workplace

Businesses with high levels of employee engagement have boosted their net income by 13.7%

 The recent strain on the national and global economy has stressed the importance of the need for efficient human capital in all businesses. A large number of organisations have been required to either lower or halt the expansion of their workforce. It is now even more imperitive than ever to impliment strong and viable HR practices, which will ensure the highest levels of satisfaction and productivity from the workforce.

“Bill Gates once said ‘Take our 20 best people away, and I will tell you that Microsoft would become an unimportant company.’

 Speaking at a recent seminar, John Perry, the Minister for Small Business confirmed that; “It has been proven that innovative HR practices can impact business success through bottom-line improvements, building up organisational capabilities, improving employee satisfaction, and shaping customer satisfaction. In today’s difficult economic climate, we must recognise that organisations need to improve the effectiveness and efficiency of their operations in as many ways as possible in order to survive, thrive and compete, both domestically and internationally.

 “The Irish Government recognises that lifelong learning, staff skills, training and development are critical investments for Irish businesses. Simply put, competitive advantage and financial performance stem from the performance of people.

 “One major benefit is that employee engagement programmes can improve a company’s bottom-line. This is backed up by a recent global workforce study that shows that businesses with high levels of employee engagement have boosted their net income by 13.7%.”

 “At a time when Irish industry needs to be as competitive as it can be, it is encouraging to see so many companies that are committed to working towards best practice. Today is a demonstration that Ireland is open for business and that Irish and Irish based companies can compete at the highest level.”