HRM Essay Example | Topics and Well Written Essays - 2250 words - 3

HRM - Essay Example ntage situations last only a few weeks and it is up to the firm’s management to find new and innovative ways which they can use to stay on top of the competition. For a company to gain competitive advantage there has to be some form of collective effort from all the stakeholders. The employees of a company are some of the most important of these stakeholders, and they can do a lot to uplift their firm’s competitive advantage (Needle 2010). One way that a company can ensure that it has competitive advantage is by making use of its existing work force to the full. However, the employees themselves need to be in a position whereby they can be as productive as possible if the company is to achieve competitive advantage. They have to be equipped with everything it takes for the company to rise above the crowd (Cartwright and Cooper 2009). Training and development for employees is one way of ensuring that they have all the skills that are needed for the success of the firm (Carroll, 2006). Managing absence is another way that a company can ensure that its workforce is in a position to contribute towards high levels of productivity and profitability (Evans, Waters and Palmer, 2002). Training and development is one of the key functions of any Human Resource Department in any organization. In Human Resource Management, training is a term used to describe the process whereby employees gain abilities that will help them achieve the organizational goals. Development on the other hand is the process by which employees gain skills over a specific period of time (Schuler and MacMillan, 1994). The end game of employee training and development is aimed at improving a company’s profitability. Well trained employees are normally motivated to be more productive. This translates to an overall in crease in the company’s output and service delivery, which in turn leads to an increase in revenues (Olian et al., 1998). When an organization is able to fulfill its objectives in