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The human capital is one of the most important assets that the organization should invest in. Wright and McMahan quoted that Becker defined the Human Resource as "the knowledge, information, ideas and health of individuals" (Wright and McMahan, 2011). In the current business world, reaching the right people, hiring, managing, training and retaining them are the main objectives which organizations all over the world competing to achieve and investing good amount of time and effort. Scientists and theorists studied this field closely and came up with theories and frameworks that can improve the organizational performance by improving the performance of its employees. This was the reason behind the Human Resource Management Science.
This essay will discuss the Human Recourse Management in its both extremes, Hard and Soft. Theories will be presented and questions will be asked about the recruitment, selection, training and performance management and rewards. Moreover, HR activities will be examined to what degree it can support the achievement of the business objectives? How possible is it to strategically manage the activities which comprise HRM? How the technology, competition and globalization affected the HRM field? All these questions and theories will be discussed in the Omani context and Occidental of Oman Inc is going to be measured against them.
1. Describe the internal labor market of the company in terms of job stability (staying in same job), promotion paths and rates, transfer paths and rates, demotion paths and
condition for the applicability of binomial distribution
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