Development in the Management of Human Resources Assignment

Development in the Management of Human Resources - Assignment Example These include employees who collectively contribute to achieving business objectives. It deals with employing people, utilizing, developing capabilities as well as compensating their services in relation to the organizational requirements. The need to produce work based on knowledge and acknowledging that workers are key to a maintaining competitive advantage has improved new HRM initiatives. This study tries to analyze the major problems facing the Play Smart Toy Company and thereafter examines HRM policies and practices to be employed by the company to increase its productivity and growth. In reference to the above case study, there are various human resources problems identified. Â  Ken Williams with the help of a small management team decided to develop a line of specialty toys that made a big impact in the market. The company grew in production and gained a big market share in Melbourne, Sydney, and Canberra and later into the Chinese market. As demand increased the company employed more staff and the business went from a small operation to a much larger concern by employing a lasting production staff. Despite healthy sales figures profits in 2007 and the first part of 2008 dropped significantly. The then accountant explained to Williams that this fall had been brought about by the increase in costs, for example, the rising labor costs. Apart from the increase in costs, there were other issues of concern. Â  First was the efficiency problem with the production staff. It had been discovered that the staff were just moving about and not doing their duties as per the rules and when the demand was high most of them were stressed and this led to a decrease in production.