It is argued that, as firms become increasingly aware that people are among their most valuable strategic assets, they are reappraising the way in which they manage their human capital. The emphasis is shifting from “personnel management” to the wider, strategic concept of “human resource management” (HRM) in which human resource policies and activities, including training and development, are linked more closely to business strategy. Human resource specialists who wish to develop a more strategic approach to people management must establish credibility with top management as key figures in the achievement of successful results.
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