Today: Wednesday, 12 March 2025
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Management
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Economy
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Development
Human resource management and its impact on economic growth: investigating the interactions between labor force and productivity in the development process
Volume 4, Issue 2, 2023-2024, Pages 79 - 89
1 : Department of Industrial Management, Science and Research Branch, Islamic Azad University, Tehran, Iran
2 Department of Financial Management, Kashan Branch, Islamic Azad University, Kashan, Iran
3 Department of Industrial Management, Kashan Branch, Islamic Azad University, Kashan, Iran
Abstract :
Abstract Human Resource Management (HRM) plays a pivotal role in shaping the economic growth of nations, acting as a bridge between labor force development and increased productivity. This study investigates the complex interactions between human capital, workforce management practices, and productivity in the broader context of economic development. With the labor force being one of the primary engines of economic activity, effective HRM practices can significantly influence the efficiency, adaptability, and skill level of the workforce, which in turn impacts national and regional economic performance. The research begins by exploring the core functions of HRM, such as recruitment, training, development, and employee retention, and their direct effects on productivity. Efficient recruitment processes ensure that organizations attract talent that is well-aligned with their strategic goals. Furthermore, consistent training and development initiatives elevate the skill level of employees, helping them adapt to technological changes and increasing their efficiency. Retention strategies, through rewards, recognition, and career advancement opportunities, foster loyalty and reduce turnover, creating a more stable and productive workforce. Keywords: “Human Resource Management (HRM)”, “Economic Growth”, “Labor Force Productivity”. “Technological Advancement”, “Inclusive Labor Market”
Abstract Human Resource Management (HRM) plays a pivotal role in shaping the economic growth of nations, acting as a bridge between labor force development and increased productivity. This study investigates the complex interactions between human capital, workforce management practices, and productivity in the broader context of economic development. With the labor force being one of the primary engines of economic activity, effective HRM practices can significantly influence the efficiency, adaptability, and skill level of the workforce, which in turn impacts national and regional economic performance. The research begins by exploring the core functions of HRM, such as recruitment, training, development, and employee retention, and their direct effects on productivity. Efficient recruitment processes ensure that organizations attract talent that is well-aligned with their strategic goals. Furthermore, consistent training and development initiatives elevate the skill level of employees, helping them adapt to technological changes and increasing their efficiency. Retention strategies, through rewards, recognition, and career advancement opportunities, foster loyalty and reduce turnover, creating a more stable and productive workforce. Keywords: “Human Resource Management (HRM)”, “Economic Growth”, “Labor Force Productivity”. “Technological Advancement”, “Inclusive Labor Market”
Keywords :
Keywords: “Human Resource Management (HRM)”, “Economic Growth”, “Labor Force Productivity”. “Technological Advancement”, “Inclusive Labor Market”
Keywords: “Human Resource Management (HRM)”, “Economic Growth”, “Labor Force Productivity”. “Technological Advancement”, “Inclusive Labor Market”