The term value creation within the Human Resources (HR) context refers to improving the employees productivity and functionality. The current HR environment is highly competitive. Consequently, it has become a core responsibility of the HR managers to give their employees an opportunity to demonstrate their value or contribution towards the organizations success during the tough moments. Both the unionized and union-free private sector workplaces must create value for their workers and understand the factors that will affect workplace relations in the future.
The private sector businesses believe in increasing the competitive strength of their brands. These workplaces can be characterized by value orientation. They use different approaches to creating value for the internal and external stakeholders. They also concentrate on improving the workplace relations because they see harmony as an indispensable component of their success. These methods are essential for the private sector because they can improve the workplace relations. Firstly, the private sector organizations should encourage honesty (truth) at the workplace. The current workplace environment is facing the scarcity of truth. Consumers attach a lot of value to honesty due to its growing shortage. Therefore, truth is a fundamental component that the organizations must encourage among the employees. It promotes harmony at the workplace and develops trust among the consumers. Secondly, the private sector companies should advise their employees to practice personality power. Speaking to clients genuinely and enthusiastically is an example of a virtue that improves the relationship between an employee and a customer.
Furthermore, it is necessary for an organization to train its workforce in order to attract customers through creativity. They must think of the new ways of designing and packaging the products to make them appealing. We increase the value of things when we make them aesthetically appealing. Meeting the needs of the customers and employees on time is also a strategy that the private sector should consider when creating value. The HR department should start by reaching the employees expectations, e.g. by granting them a safe workplace. Then the HR managers should proceed to utilize market research data and train the workers about the customers needs that they must achieve through the products and services.
Strategic planning is an invaluable tool that the HR managers must use to create and sustain value. The role of business management encompasses numerous challenges, especially during the turbulent moments. Thus, the leaders should provide their workers with the strategic plans that can increase their resilience. As part of these strategic plans, the management should provide the employees with educational and training opportunities. The plans of the unionized organizations should allow open dialogue with the unions, especially during the recessions. Such dialogues should aim to reduce incidences of strikes and slowdowns among the workers. Such issues undermine the value of the end-products that the consumers get. Another strategy is for the HR professionals to identify the available talents, more so for the positions that are difficult to fill. This strategy includes recruiting the highly experienced personnel who have lost their jobs in the competing firms. These elements of strategic planning ensure that the HR department maintains a highly skilled, competent, and experienced workforce that can meet the market demands effectively.
Value creation allows the HR professionals to enhance a calm atmosphere by eliminating on-the-job stress. The HR managers keep their employees positive and creative through value creation. This element also empowers the employees by equipping them with the necessary competencies for performing their tasks. They can also use the alternative ways of executing their duties. The outcome is a knowledgeable and highly creative workforce that understands different solutions to problems. Therefore, it is compelling for both the union and non-union work environments to use their HR professionals in creating value for both the stakeholders and the customers. The value that the HR managers create determines the competitive strength of the organizations brands.
The future of the workplace relations for the union and union-free workplaces depends on the extent to which the private sector organizations will implement value creation as a competitive strategy. However, the challenge of the private sector institutions is that they consider value creation as an overhead. Nonetheless, the HR department reserves the responsibility of continuing to provide a reasonable work environment; and value creation is a compelling factor that businesses must consider. The private sector corporations must begin viewing value creation as an asset and not a liability. Moreover, the firms that do not create value for the customers and employees will lose in the competitive struggle because they will not attract the competent talent. The buyers will also stop consuming their goods and services because they will feel that such businesses do not meet their needs. Consequently, value creation is the path that all businesses will have to follow.
The second factor that will determine the future of workplace relations is knowledge management. Currently, the organizations are facing a situation whereby knowledge determines capabilities. The leading private organizations are the ones that operate as learning organisms that are capable of using knowledge to adapt to the highly competitive environment. The well-performing corporations consider knowledge as the asset for gaining competitiveness. Consequently, they are modifying their human resources using the knowledge, e.g. through training and development. They encourage their employees to remain flexible to change so that they will adapt to the new knowledge easily. The efficient management of the cognitive resources is a technique that organizations should utilize as a way of creating value internally and externally. The employees should apply the knowledge towards producing high-quality commodities that will compete well in the market.
What is more, the ability to preserve and protect knowledge will be a critical factor as well. It is not enough for a business to discover knowledge. Protecting the knowledge from the competitors will be an even more important factor than knowledge discovery. The future private sector workplaces will perceive knowledge as an innovation that their competitors should not copy. Therefore, the organizations shall train their workers to protect their knowledge.
Finally, the HR officials ought to focus on the short-term and long-term goals as part of value creation. Most HR professionals only focus on the short-term reactions while forgetting the long-term commitments. It will be vital for HR managers to change their cultural perspectives about the organizational goals. They should also consider the roles of the junior employees in achieving the short- and long-term goals and prepare them adequately to achieving them.
In conclusion, value creation is a vital intervention that the private companies are capitalizing on in the modern world. Added value enables the corporations to increase their brands competitiveness. Encouraging honesty, practicing personality power, applying creativity, and meeting the needs of the buyers are some of the value addition strategies that the private sector businesses are using presently. In the future, the private sector corporations will change their perspective about value creation as an overhead. They will implement the strategies to create more value for their employees and customers. They will also focus on managing their knowledge more properly while protecting it from the competitors.