a. Why is HR important?

How does it differ from other factors of production

namely land and capital?
Roles and Responsibility of a HR in a organiztion:
Hiring and Development Training

It is one of the major task of a HR manager in an organization. They form different

strategies to hire right kind of people in organization. They make it sure that the
individual fits into the culture of the organization and his aspirations are aligned
with vision of the organization. They also form plans to give periodic training to
employee so that he is well-versed with the current trend and to hone his skill set.
These trainings help the employee to develop his/her core competencies which
therby increases the productivity in workplace.

Appraisals and Rewards

HR manager continuously interacts with employee individually to check on his/her

performance and also to define their career goals. They also give advice, hear
concerns and check on their work life balance. Accordingly, they define the career
goal of employee and try to continuously improve the performance of employee.
Periodic monitoring of performance helps manager to decide on appraisals and
rewards of the employee. This appraisals and rewards keep the employee
motivated.

Resolving conflicts and Disputes

Personal conflicts and disputes are inevitable in organization. This affects the
productivity of employee and creates a negative work environment in
organization.HR manager takes utmost care that such scenarios are avoided. They
act as mediator in such type of issues so that things are solved instantly and
creates a healthy working environment in organization.

Improving and Maintaining Work Culture

HR makes sure that workplace activities, events, celebrations, ceremonies, field

trips, and team building opportunities are occurring. These events keep the
employees motivated and develop a healthy relationship within team. All these
initiatives by HR continuously improves the wrok culture of organization and keep
employees happy.

Sustaining Business

HR identifies employees with high skill set continuously plan development

programs for them. This programs helps employee to achieve leadership roles in
the organization. This function is of very high importance as it guarantees the
organization's stability and future success.

Building Business Relations

Developing public relations is also another major task of organization. They

organize business meetings, seminars and different official gatherings on behalf of
organization to develop healthy relationships with different business sectors.

HR differs from other cost of production such as land and capital to a great
extent.HR deals with employees and every employee has a different characteristic
which is not the case of land and capital. Once the land is purchased there is no
specific rules and appraisal system that needs to be followed for it which is not the
case with employees. Also capital is managed by rules and financial needs of the
company. A HR should recruit employees that makes the efficient us of other factor
of production like land and capital to increase the value of the firm.Also different
strategies are followed while recruiting employee and selecting a land.