Human Resource Management is the management of the workforce and organisation. It is responsible for recruitment, training, assessment and recognizing employees while administering organisation surveillance and work culture. HRM also ensures abidance with labour laws. In simple words, Human Resource Management is defined as the organising, planning and governing of the development, procurement of the human resources to the edge that a person, organisation 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.
HRM is a universal component in every organisation. 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 organisation's workforce and position them as per their capabilities.
A Component of Management Domain
HRM plays a vital role in an organisation'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 utilises 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.
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 utilise 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 organisational goal.
Presided Towards the Fulfilment of Goals
Human Resource Management works for fulfilling a company's set of objectives. It empowers an organisation 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 organisation 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 organisational 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 organisation has to deal with human resource management.
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 utilises 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 organisation.
The process of HRM is steady and has to run all the time without halts. An organisation 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.
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 organisation 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.
The actual abbreviation of HRM or HR is Human resource management. It is the strategic and structured approach to the effective and efficient management of people in an organisation such that they help their business gain a competitive advantage over the others in the market. It is designed to maximise the level of employee performance by serving in a company according to an employer's strategic objectives.
It is the practice of recruiting, hiring, deploying, and managing an organisation's employees. HRM is an art of managing the employees with significant importance treating them as assets of the business.
The 9 most important features of HRM are as follows
An HR should be Decision Oriented and deal with the employees accordingly. Some of the most important decisions an HR might have taken will be with respect to performance improvement through further training programs arranged or a promotion decision based on satisfactory performance by an employee without any bias.
An Hr should always be on the employee side and be Employee Oriented but not foregoing the company policies as well.
They should continuously plan and develop a structure in order to Provide Opportunities from the organisation's end.
Rather than getting stuck in one place, effective management should be an active Continuous Process.
The company should be Development-Oriented by drawing and framing various rewards and incentive structures in order to boost the employee to work well. On the other hand, Multidisciplinary in the sense that an HR should practice selecting and drawing the knowledge and inputs from various employees from different disciplines and backgrounds like those of psychology, sociology, anthropology, political science, etc.
Integration of Goals is a policy where the employee's goals and the organisational goals are not different and everyone works towards it in order to attain success.
Dynamic Function where the management is expected to perform necessary changes to the goal and organisation according to the social, economic, technical, and political environment outside.
Challenging, Comprehensive, and Pervasive Function
Performance and of course Future-Oriented