Soft HRM Model: Human Capital as the Greatest Asset for Organizational Performance
Keywords:
HRM model, Human capital & Organizational performanceAbstract
There is no clearer time in the current generation that has demonstrated the significance of human capital in the world of work than in 2020 after the novel coronavirus (COVID-19) disease struck and eventually declared a global pandemic on 11 March 2020 (WHO, 2020). Governments across the world took up strict measures in a bid to tame spread of the highly infectious disease including initiating curfews and lockdowns. As a result, businesses, schools, factories and many institutions closed shop or reduced their operations significantly. Consequently, many companies have been left with buildings and infrastructure with no one to attend to them as most workers are quarantined or under lockdown in their homes, while others were asked to work from home. CEOs and managers have come to the appreciation of the fact that even with the most advanced machinery, seamless processes or well written policies and strategies, without the human resource to make use them for production then they remain unproductive with no income generation. With selected examples of best practices from various companies, this paper reflects on the importance of soft model of human resource management (HRM) in an organization.
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