Account Of Ghana's Economy

Ghana in its historic annals is referred to as a beacon of hope and the gateway to Africa. The country over the years has made successful exploits in various sectors such as agriculture, education, minerals, soccer and business.  Cocoa production has hiked up and the discovery of oil in the country promises to be a lucrative venture for the nation. Ghana as one of the leading manufacturers of GOLD, bauxite and other natural resources in Africa has created avenues for foreign investors to showcase their products and also establish businesses across the economy. Nonetheless, the country has experienced a backlash for being a middle-income economy yet underdeveloped. This situation has arisen out of a number of factors such as inadequate infrastructure, poverty, inadequate education. Though the progress of every economy is a vital attraction to investors and the citizenry, it has to adopt certain measures to either develop or sustain the development of the economy. This is why an effective human resource management is a significant tool to ensure a greater development of the nation. HUMAN RESOURCE MANAGEMENT Bratton and GOLD (2007:7) define human resource management as “a strategic approach to managing employment relations which emphasizes that leveraging people’s capabilities is critical to achieving sustainable competitive advantage, this being achieved through a distinctive set of integrated employment policies, programmes and practices.” (as cited by K. A. M. Senya in an article titled “The Ghana Dilemma in Human Resource Management - The HR Planning Issue”) According to this definition, the keyword to note is “managing employment relations which emphasizes that leveraging people’s capabilities is critical…”, therefore to effectively manage human resource; it is important that the services of the people in the nation are utilized. BUILDING A STRONG NATION THROUGH EFFECTIVE HUMAN RESOURCE MANAGEMENT SOME FACTORS LEADING TO UNDERDEVELOPMENT IN GHANA Four areas to keenly take note of are practical training and education, employment, technological approach and strategic corporate entities. The backbone of a successful economy is education. Education bridges the gap between the illiterate and the literate. As the world has become a global village, every country would like to put proper educational structures in place to catch up with the global trend. Ghana is reported to have about 60% of illiterates compared to the literacy rate. This however drags the nation backward and also drains the image of the country. Therefore, a lot must be done to build a strong force for the economy. Also, the educated ones are basically given theories in schools and left to their fate to put the theories into practice in order to build a good career. Many institutions in the country lack the ability to practically demonstrate what they teach the students and this is a major setback since a chunk of these students end up in different fields. For instance, a student studies journalism in a university but later ends up as a teacher because there was little or no practical training for him or her. EFFECTIVE HUMAN RESOURCE MANAGEMENT TO BUILD A STRONG NATION Ghanaians should have equal educational opportunities and must be given the necessary assistance to further their education to a higher institution. Governments and institutions must incorporate practical training in their curricula. Practical training helps the students to practice what they learn before they complete their years in the institutions. When they practice whilst in the institutions, the country gains minds which are not only theoretically intelligent but come with their expertise to boost the economy in their various fields. Most companies prefer employees who are skilled and can practically deliver their services; the country as well needs citizens who are skilled and productive. Managing human resource in this area entails skilled and strong working force that are practically productive. And when the nation’s resources are entrusted to the hands of this group of people, it can be assured of good service delivery which is a step to attract more foreign investors and develop the nation. Furthermore, employment opportunities should be created for the citizens in order to promote high productivity in the economy. Low rate of employment sinks the nation’s progress and it is very prudent that industries are set up to employ the masses who are unemployed. Unemployment breeds several social vices such as theft, armed robbery, fraud and other dubious businesses which dent the image of the country. The image of the country serves as a brand to the world and the African continent. So, when a vast number of people are employed, it paints a good image for the country and also increases the country’s gross domestic product. These are all forms of managing a proper human resource in the country to enhance Ghana’s image on the world map. Adequate technical know-how and strategic business firms also bring about lots of development in the country. As the world advances, technology also advances and it is therefore incumbent on the country to utilize its technological base. This improves the systems in the country and also advances the development of the economy. Workers should be equipped with technological equipment and given adequate technical know-how to ensure the nation is not left out so far as technology is concerned. For instance; If petroleum engineering workers will be equipped with the various instruments and machines that pertain to their field, there will be adequate human resources to manage the petroleum industry. Corporate organizations and businesses should also adopt strategic measures to encourage employees to work hard. Employers and employees are obliged to use human resource management as a vital tool to promote the image, brand and development of their companies. It is advisable for a company to set up a human resource department. The department is very significant in an organization to settle managerial disputes or employee problems in a professional manner. Human resource management forms an integral part of a company’s success and also provides the consultancy an employee needs. Human resource management in a company also creates room for seminars and business meetings to be arranged for the company in order to keep the company abreast of the competitive trends in the market and other businesses. WHY HUMAN RESOURCE MANAGEMENT IN GHANA? Several reasons explaining the importance of an effective human resource management in Ghana have already been cited but in a nutshell, when there is effective human resource management in an organization, there will be a professional work team and this is not isolated from the benefits the country enjoys. Since the companies are established in the country and most of them have their headquarters in Ghana, a proper human resource management in the companies can be translated as a proper means of high productivity in the country. As a result, an effective human resource management in Ghana will accrue numerous benefits which will build a good image for the country, hence an opportunity for Ghana to move from a middle-income economy to a high income status.

Source: Ameyaw Adu Gyamfi/Peacefmonline.com