Hi,
Human Resource Management
(HRM) is the term used to describe formal policies, processes and systems devised for the management of people within an organization to ensure effective as well as efficient utilization of the staffing needs by the organization. The responsibilities of a human resource manager fall into areas such as: Talent Acquisition, Talent Development, Talent Management, Rewards & Recognition(R&R), Compensation & Benefits(Comp & Ben), Performance Management System (PMS) and Industrial relations(IR).
Principles of HRM
Modern HRM is guided by several overriding principles. Perhaps the most important principle of them all is the principle of simple recognition that human resources are the most important assets of an organization. The second guiding principle is that, a business cannot be successful without effectively managing this resource. A third guiding principle, similar in scope, holds that it is the HR's responsibility to find, secure, guide, and develop employees whose talents and desires are compatible with the operating needs and future goals of the company. Other HRM factors that shape corporate culture whether by encouraging integration and cooperation across the company, instituting quantitative performance measurements, or taking some other action are also commonly cited as key components in business success.
Human Resource Management - Key Areas of responsibility
Human resource management is concerned with the development of both individuals and the organization in which they operate. HRM, then, is engaged not only in securing and developing the talents of individual workers, but also in implementing programs that enhance communication and cooperation between those individual workers in order to nurture organizational development.
The primary responsibilities associated with human resource management include:
Job analysis
consists of determining often with the help of other company areas the nature and responsibilities of various employment positions. This can encompass determination of the skills and experiences necessary to adequately perform in a position, identification of job and industry trends, and anticipation of future employment levels and skill requirements. Job analysis is the cornerstone of HRM practice because it provides valid information about jobs that is used to hire and promote people, establish wages, determine training needs, and make other important HRM decisions. It is the actual process of managing the flow of personnel into, within (through transfers and promotions), and out of an organization.
Performance appraisal
is the practice of assessing employee job performance and providing feedback to those employees about both positive and negative aspects of their performance. Performance measurements are very important both for the organization and the individual, for they are the primary data used in determining salary increases, promotions, and, in the case of workers who perform unsatisfactorily, dismissal.
Rewards & Recognition
are typically managed by HR areas as well. This aspect of human resource management is very important, for it is the mechanism by which organizations provide their workers with rewards for past achievements and incentives for high performance in the future. It is also the mechanism by which organizations address problems within their work force, through institution of disciplinary measures. Aligning the work force with company goals, and requires offering workers an employment relationship that motivates them to take ownership of the business plan.
Employee development and training
is another vital responsibility of HR personnel. HR is responsible for researching an organization's training needs, and for initiating and evaluating employee development programs designed to address those needs. The training programs can range from orientation programs, which are designed to acclimate new hires to the company, to ambitious education programs intended to familiarize workers with a new software system as well as training needs based on the employees requirement to achieve an edge over it's competitors.