In: Finance
The problem of many developing businesses has always been attributed to insufficient or lack of capital to run these enterprises. But on taking an MBA course at the University, you have come to realize that most businesses in Ghana and Africa fail not because of capital adequacy issues but rather, human resources management issues. What significant expectations would you give to all HR managers as needed competences to be equipped with if you are the consultant general to businesses in Ghana? Discuss these factors or requirements in not more than One and half (11 /2) pages.
Human resources management issues are common in most of the businesses of Ghana and Africa and I would be trying to help the the human resource manager through following advices that will help in increasing their competence-
A. management changes is one of the most common factors which will be affecting the overall performance of employees in a country so I will be trying to help these managers to deal with management changes in an effective and structured way and not oppose them, rather adapt to them.
B. Compliance with rules and regulation is another human resource problem because there is an environment of adoting manipulative practices in order to maximize the profit of the company but I would be trying to enforce an environment of better corporate governance in order to report profits that will help the employees.
C.I will be helping these human resource managers in better workforce training and management because it will be helping them in order to increase the efficiency of workforce in the organisation.
D. I will be trying to improve the leadership skills of these human resource manager because they will be helping in synchronising the goals of indivisual employees with goals of the entire organisation that will be helpful in maximization of the organisational value.
E. I will also be trying to implement a better compensation structure that will motivate them in order to achieve the goals of the organisation and not get restricted to innovations.
F. Recruitment of talented employees and retention of talented employees are important in order to maximize the overall growth of the company and retain the quality workforce that will provide a better human resource capital to the entire organisation.