Investing in the human resource essay
In actuality, the current situation in the Advancement Corporation is quite difficult because the company faces the problem of the loss of a considerable part of its experienced and well-qualified staff. Instead, the company has to keep progressing. In such a situation, the company should focus on the recruitment of young and prospective employees, who may get training in the company using remaining well-qualified professionals and attracting extra professionals from outside for the training of young employees. The employment of young and prospective employees opens an opportunity to accelerate the business development of the company because younger employees are more inclined to the introduction of successful innovations than older and experienced ones.
The greatest opportunity is to recruit young and prospective employees, who can generate new ideas and suggest innovations. Young employees are cheap labor force with a great potential to grow (Keener, 1999). In spite of the low costs of the labor force, the Advanced Corporation can benefit from the zeal of young employees, who are eager to make a successful career in the company, who have new ideas and are eager to implement them, if they get an opportunity. Hence, the company just needs to use knowledge sharing management within the company and to invest in training of young employees.
The greatest challenge is to train young professionals and to unite them as a team. The close collaboration contributes to the faster progress of young professionals and helps the company to introduce changes and innovations faster. The training process is essential for the professional growth of young employees (Clarke, 2000). The training may be costly but the training is not always effective. Therefore, the company should deal with maximizing the effectiveness of training and developing knowledge sharing management within the company. In addition, the company should develop the healthy organizational culture to unite employees as a team.
Costs of training may be high but the company will focus on recruiting young professionals, whose salary is lower compared to well-qualified and experienced professionals. Hence, the company can save costs on the labor force and invest more funds into training young and prospective employees.
The scope of the change is large scale since experienced employees, who have left the company will be replaced by younger and prospective employees. Therefore, the company will have to pass through a considerable reorganization since younger professionals will get responsible positions and generate new ideas to introduce innovations. Thus, the company can accelerate its business development.
At the beginning of the change the quality of employees’ performance may be an issue because young employees are inexperienced and they may make errors in the course of their work. However, as they will get training and acquire new experience, their performance and quality of their work, products and services will grow fast.
Risk issues are instability of the organizational performance because young employees are not always stable in their professional growth and performance (Minehan, 1997). In addition, some young employees may fail to improve their performance consistently and the company will have to replace them by more prospective ones. Finally, the company will have to form a new, healthy organizational culture, where employees may feel secure after the change being completed.
Thus, the Advancement Corporation can benefit from recruiting young employees, who can replace older and experienced ones.
