In a perfectly competitive market if companies are to maximize profits, they need to manage their human resources better. An example can be cited to explain that better. Presuming the selling price of an article is $15. If profits are to be maximized, prices cannot be increased because perfect competition exists. If the cost price of the article was considered to be $13, it is evident that the profits in such a case would be $2. The only way the company can maximise its profit is by cutting down on the cost of production of the article as the option of providing the same quality at an increased price is not a viable option. Since it is not feasible on its part to influence the prices of the raw materials, it is left with the only option of trying to influence its man-power to increase its efficiency and as such facilitating better and higher production. It is further to be noted that man power is the only cost-of-production factor which can be effectively and hugely influenced with a little better supervision.
Human man-power are the most important wealth of an organization. The success or failure of an organization greatly depends on the ability of the people working therein. Without positive and innovative contributions from humans, companies cannot progress. If an organization wants to achieve its goals, they need to recruit people with the necessary skills, qualifications and experience (Jackson & Schuler, 1995, Sparrow, Paul, et al 2004)). While doing so, they have to keep the present as well as the future requirements of the organization in mind. Human man-power is the most important wealth of an organization. The health of an organization can be largely attributed to the skill of the man-power currently employed by it . For the organization to be successful in the long run it has to be able to tap its man-power skills most cost-effectively . If it aims to be successful in the long run, the organization should be able to recruit the rightly qualified man-power and which it can further train most cost effectively to achieve its dreams (Jackson & Schuler, 1995, Sparrow, Paul, et al 2004)). Nevertheless, the organization aims and goals have to be always kept in mind while recruiting manpower.
The unending spirit of self-motivation amongst the manpower at Infosys and an organizational obligation to continuous self development keeps the company ahead in a fast-developing industry. This constant self development programme at Infosys is structured around a host of dedicated workshops for its employees (Infosys, 2010). These include key schemes such as the Infosys Leadership Institute and also various in-progress management development and personal improvement programs. A lot of training programs also include technological training to keep employees abreast with the latest technology.Â The training plan provides a succession of efforts as employees advance their career. When an employee joins the company, he begins his training with an induction programme and later leadership trainings are given as and when they take more responsibilities.
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