Human resource management (HRM or HR) is the strategic approach to the effective and efficient management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service of an employer’s strategic objectives.
What is human resource management and its importance?
Human Resource Management deals with issues related to compensation, performance management, organization development, safety, wellness, benefits, employee motivation, training and others. HRM plays a strategic role in managing people and the workplace culture and environment
What is human resource management in simple terms?
Human resource management (HRM) is the practice of recruiting, hiring, deploying and managing an organization’s employees. HRM is employee management with an emphasis on those employees as assets of the business. In this context, employees are sometimes referred to as human capital. Challenges of HRM – At Organizational Level, Workplace and Department Level. Social, economical, technological conditions are changing. These changes are already affecting business and will have an even greater impact in future. Human behavior is also complex.
What is the future of HR?
There is and will continue to be the creation and diversification of HR job roles. As listed in the future jobs section, there will be a need for specialists in areas of data analysis, benefits creation, remote work development, and strategy building, etc.
It may feel a bit weird to refer to people as ‘human resources’. Human Resources are all the people that in one capacity or another work for or contribute to an organization.
These people make up a company’s workforce. They can be regular employees, for example, but also contractors. Especially with the rise of the gig economy, more and more people are starting to work for an organization on a contract basis without having a traditional labor contract.
Human Resource Management deals with the management functions like planning, organizing, directing and controlling
It deals with procurement of human resource , training & development and maintenance of human resource.
It helps to achieve individual, organizational and social objectives
Human Resource Management is a multidisciplinary subject.
It includes the study of management, psychology, communication, economics and sociology.
It also deals with building team spirit and team work.
It is a continuous process.