Opportunities and risks in the personnel development process

Seminar paper from the year 2018 in the subject Leadership and Human Resource Management - Miscellaneous, grade: 1,3, AKAD University of Applied Sciences Stuttgart, language: English, abstract: The German economy has been growing continuously for the last 6 years. In terms of gross domestic product, Germany is the largest economy in Europe. In addition, the German economy as an export country benefits enormously from the regenerating global economy. The consequences are rising consumer spending by citizens and investments by companies. Globalization leads to new Challenges for companies that have to act under increasing competition and high pressure to perform. Accordingly, the demands on the staff who have to deal with technical innovations, for example, are increasing. In addition, employers have to deal with difficult conditions for the search for personnel.Due to the stagnating birth rate in Germany, there is a scarce supply of skilled workers and qualified management personnel. In order to meet these new challenges, companies are increasingly focusing on human resource management. Now it not only includes personnel administration, which was initially understood as a subordinate and exclusively serving function, but also many other functions that deal with the employees of a company.Personnel are no longer assigned to provide services alongside other production factors such as machines and raw materials, but are given a new status as the most important resource. Strategic tasks such as personnel planning, recruitment and deployment of human resources in the company's human resources management are now part of the overall corporate policy. Another task of the company's human resources department is responsible for personnel development, which in operational practice serves to promote and further develop employees with their skills and abilities. In addition, the personnel development between employers and employees as an interface to meet the needs and requirements of both parties.