Economy & Business, Volume 8, 2014

Abstract: Human resource management has grown to become one of the most important issues in nowadays business management. Human resources are without a doubt the most specific and some might argue the most important resource. Therefore business organizations, around the world are treating human resources as their most valuable and scars resource. Unlike other inputs and resources, human resources that is the employees are a long-term investment that must be carefully managed. Managing human resources nowadays differs greatly from managing human resources, say two, three or four decades ago. In the past, ensuring and providing a certain degree of labor productivity was the main concern of management. Nowadays, modern managers remain focused on organizational efficiency and labor productivity but have become more aware of the importance of employee motivation and satisfaction and therefore are increasingly emphasizing their importance in insuring increased labor productivity. The aim of this paper is to provide an overview regarding the importance of human resource management in providing success for contemporary business organizations.