In any company, there are various resources that a firm has to take into account. There are the capital resources. And there is information—undoubtedly one of today’s most important assets of a company, in this knowledge driven globalized economy.
It is not uncommon for companies to forget the human resource factor, though. How often do we hear of employees protesting against unfair business practices, and how often do we hear of mass lay-offs in the name of profitability?
It is hence important for a company to have a solid human resource team at the onset. It is said that one excellent employee is better than a hundred regular ones. It is also fair that a company compensates its staff adequately, for even the most excellent employee will under-perform if not paid well.
So in starting a company, the human resource factor is one of the things you should not fail to address.