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Essay / Research Paper Abstract
A 10 page paper discussing HRM’s current relevance in today’s business environment. The HR functions of both Ritz-Carlton and the Chubb Group were the driving forces behind the changes at these companies. Acting as much more than resume collectors and time trackers, each company’s HRM was able to save their companies millions annually merely by doing the same things with different approaches than had been standard. The bottom line is that HRM no longer is a luxury at all, at least where senior management assigns it duties of significantly decreasing labor costs. When times are bad, HRM is of more value than ever. Bibliography lists 11 sources.
Page Count:
10 pages (~225 words per page)
File: CC6_KShrLuxury.rtf
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Unformatted sample text from the term paper:
been much discussion over the years as to the value of the human resources (HR) function, and many times it has been only the people within that department praising HRs
relative worth. The perspective to be considered here is that the values and assumptions of Human Resource Management (HRM) lend themselves well to businesses that are enjoying good times.
When times are bad, HRM is a luxury which can be discarded. Formerly active in little more than collecting resumes and tracking
employees time off, HR effectively was a drain on the bottom line and returned very little real value to the organization. There were few functions in HR that could
not be outsourced in those days. Times have changed, however. The efficient HRM function now makes a positive contribution to the bottom line rather than detracting from it.
Changes in the Business Environment As mentioned above, HRs function in times past was to act as the first point of contact
for job seekers, and it administered employee benefits programs and tracked information such as vacation and sick time available to each employee. When that was HRs only function, it
was indeed a luxury that the business could well do without in times of economic slowdown when the organization needed to reduce expenses. The value that HR provided was
not equal to its cost to most organizations. Two changes occurred that led to drastic changes in this standard perspective, however. One
is that the entire face of business has changed dramatically in the past generation. Every business of every type has been forced to operate as efficiently as possible, extracting
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