Why did Nectar Group decide to invest in H. R. ?
The recent financial crisis, which escalated due to reckless lending practices by financial organisations, resulted in a severe economic crisis especially through the U.S. & Europe.
Several leading companies suffered huge losses and even faced bankruptcy, resulting in a massive public financial assistance. We have also faced a sharp increase in several raw material costs. This global economic crisis brought new challenges to every employer no matter what if you’re a small, medium or even a large enterprise.
The E.U. primary objectives to face this crisis are to sustain, consolidate and to create more jobs. The average unemployment rates across the E.U. are on the increase and stood at 9.6 per cent during the first quarter of 2010. In Malta the unemployment rate increased from 6.6 to 7.0 during the same quarter. (Information collected from Euro Stat Press Office issued May 2010).
Way back in 2008, the Directors of Nectar Group decided to invest in its very own Human Resources Department to face the above challenges by addressing the importance of continuous standards upgrading of its employees. We’re proud to say that quite the contrary, in fact Nectar Group has continued to benefit from the momentum already established before the crisis and continued to experience growth whereas many other companies experienced contraction even though we are operating in an ever increasing competitive market.
But what does Human Resources mean?
Human resources is the name of the function within an organization charged with the overall responsibility for implementing strategies and policies relating to the management of individuals. People Management is a very demanding role and important even in our routine daily lives. It is not easy, and it requires commitment to be well managed. Those who work in Human Resources are not only responsible for hiring new employees, they also handle induction, training & development, motivation, health & safety and promoting corporate social responsibility amongst others. It's true that any individual who works in Human Resources must be a "people person”.
Why is it important to invest in H.R.?
The aim of Human Resources Development is the expansion of human capital within an organization. Human Resources Development is a combination of training and education that ensures the continual improvement and growth of both the individual and the organization. In simple terms, an organization’s human resources strategy should maximize the employee’s productivity by investing effectively to best develop their abilities. Training is required to either just remain current in their fast changing positions, otherwise to further develop individuals’ career goals within the organization. It becomes a strategic approach to linkages between health, education and employment.
Human Resources Development can be defined simply as developing the most important section of any business, its human resource. Nectar Group is proud to say that it’s one of the top ten companies locally who have invested heavily in training and development during the current year.
