‘For many years it has been said that capital is the bottleneck for a developing industry. I don't think this any longer holds true. I think it's the work force and the company's inability to recruit and maintain a good work force that does constitute the bottleneck for production. I don't know of any major project backed by good ideas, vigor and enthusiasm that has been stopped by a shortage of cash. I do know of industries whose growth has been partly stopped or hampered because they can't maintain an efficient and enthusiastic labor force, and I think this will hold true even more in the future …’(1)
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References
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Gyllenhammer,P., President,A., VolvoB., quoted in Foulkes,F. K., “The Expanding Role of the Personnel Function”, Harvard Business Review, March-April 1975, p. 73.
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Gyllenhammer,P., President,A., VolvoB., quoted in Foulkes,F. K., “The Expanding Role of the Personnel Function”, Harvard Business Review, March-April 1975, p. 75.
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An example of the name change from “personnel” to “human resources” is Sayles and Strauss' well known text — in 1960 it was titled Personnel: The Human Problems of Management. In 1977, the revision bore the title Managing Human Resources.
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Given the number of employees, the Human Resource Department is likely to consist of one to two employees at the most. See French,W. L., op. cit., pp. 562–3, and “ASPA-BNA Survey No. 33”, Bulletin to Management, The Bureau of National Affairs Inc., Washington, D.C., 8.12.1977.
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