Human Resource Management is the management of workforce and organization. It is responsible for recruitment, training, assessment and recognizing employees while administering organization surveillance and work culture. HRM also ensures abidance with labour laws. In simple words, Human Resource Management is defined as the organizing, planning and governing of the development, procurement of the human resources to the edge that a person, organization and social goals are supported. HRM pertains to the overall skill, attitude and knowledge that a firm requires to perform. It comprises interest and effort to manage the workforce. The everyday chores of HRM are to select, train employees and develop good relations with them.
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As per the definition mentioned above of HRM, here are nine features of Human Resource Management.
1. Substantial Existence
HRM is a universal component in every organization. Even small enterprises need a human resource team to evaluate the requirement and recruit people accordingly. The implication of principles remains the same irrespective of the nature, size and purpose of the firm. Human resources can be an individual or a team depending on the expansion and complexity of a firm. Majority of the firms deploy a team of experts that can regulate the entire organization's workforce and position them as per their capabilities.
2. A Component of Management Domain
HRM plays a vital role in an organization's discipline. It is not regarded as a whole discipline but is certainly a field of study. However, HRM lies under the management process; it brings out management strategies, principles and concepts and utilizes it to regulate human resources of any firm. An HRM builds a communication channel between the top management and employees to strengthen a firm's financial and professional roots. Companies with efficient HR professionals are more likely to expand than firms with weak HR skills.
3. An Action-oriented Sector
The vital role of HRM is to take action according to the company's policy. It means the HR department is not all about record-keeping and written rules. They take action to solve employees' problems as soon as possible. To solve problems that require the involvement of top management authorities, the HR department communicates with them and solves the crisis.
HRM looks at the capability of each employee and positions in order to utilize the skills. It changes the compensation structure as per the employee requirements. The HR department also caters to training to enhance the worker's skills to boost productivity. It helps in determining work responsibilities and discover employees' hidden abilities to serve the organizational goal.
5. Presided Towards the Fulfilment of Goals
Human Resource Management works for fulfilling a company's set of objectives. It empowers an organization through tools and strategies for effective management.
From hiring to rewarding to resigning, HRM manages and keeps a record of every employee. It helps an organization to grow exponentially by handling resources efficiently. Mishandling of resources can lead to bankruptcy, mismanaged manpower and violation of company discipline.
HRM is all about people at work as a solo worker and a group. It strives to support employees to develop their potential and be productive. It deals with the people-oriented job and manages functions like training, hiring working performance and more. Human Resources has the capacity of building human capital. Humans are important for achieving organizational goals and the performance is based on the virtue of employees.
Managers in every hierarchy need to manage people in a way or another. From workers to managers, every individual in an organization has to deal with human resource management.
7. HR philosophy
HRM is a philosophy that does not assume a human being as a facet of production like capital or labour. HRM acknowledges employees' qualities and utilizes their skills according to the company's requirements.
Every manager should have the necessary social skills to interact and establish a bond with the employees. If an employee has a good relationship with the HR department, s/he is more likely to sustain in the organization.
8. Functions Continuously
The process of HRM is steady and has to run all the time without halts. An organization requires effective workforce management for functioning smoothly.
It requires constant efforts instead of one-shot actions. HRM is a permanent process and managers at every level deal with people. They need to regulate paychecks without any error and calculate incentives for OT and medical reimbursement. Human resources primarily work for managing the workforce to complete a project.
9. Extensive Range of Activities
HRM involves various processes concerned with the management of the workforce. It comprises HR planning, placement, employment, appraisal, compensation and maintenance of workers.
For performing these activities, an organization needs an individual or group of people known as HR or Human Resource Department. The HR department tracks the productivity index of each employee and provides appraisal to the employee as per his/her efforts.