Significance of Human Resource Development Essay

Significance of Human Resource Development - Essay Example In this regard, organizations have recognized the importance of Human Resource Development as an important strategic partner in the development of its most valuable intangible asset - the human capital (Zula and Chermack, 2007). With the growing number of workers which is likewise intensified by diversity due to the burgeoning population of ‘baby-boomers’ (Waight, 2005), Human Resource Development (HRD) is critically required to address the diverse characteristics and provide a strategic human capital planning (Zula and Chermack, 2007). The following outlines the essence of human resource development being a strategic partner in business organizations. The changing role it portrays from traditional perspective of human resource function to a more decentralized functionality. Its significance in the learning and development of individuals and organizations as well as the emerging trends and future of human resource development is herein provided. As organizations continue to struggle to address the demands of a changing economy and marketplace, whilst finding ways to improve performance of the workforce and in turn enhance financial profitability, HRD is perceived the best source and venue for these changes to take place as prime role of this division is manpower development. In Graham’s (1994) findings, he ascertained that successful health care organizations, despite different approaches and ways of achieving end result, all acknowledged and recognized the significance of human resource dimension. Through well-integrated human resource structure, specifically with the function of human resource development, employee’s skills and abilities are nevertheless extracted to provide utmost value for optimal business profitability. In this sense, the human resource development has emerged as a critical essential feature