In today’s knowledge economy the concept of Human Resource Development (HRD) within organizations continues to expand and evolve. The contemporary literature regarding the
theory of HRD examined in this paper, deals with many initiatives and ideas, such as the
strategic element of developing workforce and its impact on organizational objectives or the importance of creating an effective organizational learning environment by making a shift from training to learning. After demonstrating the four phases of an effective HRD approach the direct link between firm performance and training will be examined in order to analyse organizational benefits as well as achieving competitive advantage in order to enhance business performance.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- HRD
- HRD in today's environment
- Human Capital Theory
- Strategic HRD
- The four steps of effective and well-structured SHRD
- A shift from Training to Learning
- Relationship between people development and firm performance
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper aims to explore the relationship between effective people development and increased firm performance. It examines the theoretical underpinnings of Human Resource Development (HRD), the role of strategic HRD, and the shift from traditional training to a more holistic approach to learning.
- The evolving role of HRD in today's knowledge economy
- The importance of human capital theory in understanding workforce development
- The strategic implications of HRD for organizational success
- The shift from traditional training to a learning-oriented approach
- The connection between people development and firm performance
Zusammenfassung der Kapitel (Chapter Summaries)
The introduction sets the stage by highlighting the growing importance of HRD in the modern workplace. Chapter 2 introduces the concepts of HRD and learning and development, emphasizing that training is only one component of a broader development strategy.
Chapter 2.1 examines the evolving role of HRD in today's environment, considering the challenges posed by technological, economic, and societal changes. Chapter 2.2 delves into the concept of human capital theory, highlighting the economic value of investing in employee skills and knowledge.
Chapter 3 focuses on strategic HRD, exploring how HRD strategies can contribute to organizational success by aligning people development with overall business objectives. Chapter 3.1 examines the four steps of an effective and well-structured strategic HRD approach.
Schlüsselwörter (Keywords)
Human Resource Development (HRD), Strategic Human Resource Development (SHRD), Human Capital Theory, Learning and Development, Training and Development, Organizational Learning, Knowledge Economy, Firm Performance, Competitive Advantage.
- Quote paper
- Anonym (Author), 2011, Can effective people development lead to increased firm performance?, Munich, GRIN Verlag, https://www.grin.com/document/190091
