Development of Human Resource Management

Development of Human Resource Management

Introduction

Companies rely on the performance of their employees to achieve its goals. The way the company manages its employees determines their level of performance and consequently affects its profits. Human resource managers, therefore, play an important role in setting the tone in the workplace and ensuring that only the right people hold the appropriate positions. As a human resource manager for Pinnacle Financial that employs 867 employees, I will have the responsibility of ensuring that they all work towards the company’s objectives. Founded on 20th February 2000, the company works towards being the best financial services provider and the best place for workers (Pinnacle Financial Partners, 2015). The company’s mission revolves around providing distinctive financial service and effective advice to clients. It also has a mission to enrich its associates, professionally and financially. It also aims at making a significant positive impact on the community and creating outstanding long-term value for shareholders (Pinnacle Financial Partners, 2015). Its success is attributable to its core values of integrity, fairness, learning, partnerships results, balance, and discipline. The company is client-oriented and focuses on business, real estate, and other consumers to develop a financial relationship with them. It hires and strives to retain a team of competent individuals who offer financial services and advice to the company’s clients including banking, investment, mortgage, trust, insurance and financial planning (Pinnacle Financial Partners, 2015).

Human resource management is the modern term used in the field of employee administration, and it emerged in the early 1970s and gained acceptance in the workplace in 1989. It trended under the name personnel management and that field on the premise that employees work for a company represent its resources (Walden University, 2011). Although the terms were not present in the years preceding 1940s, most of its activities and the responsibilities heaped upon them were present in the workplaces. Historically, human resource management was known as personnel management, and it was a formal system for managing the people within an organization. However, personnel management restricted itself to the welfare of the employees. As workplaces became diverse and developed a need to stay current with the emerging work practices, the term human resource management was instituted to manage people in a way that matches both the organizational and individual goals. It also provides the workers with both intrinsic and extrinsic rewards (Walden University, 2011).

Difference between Personnel Management and Human Resource Management

The shift from personnel management to human resource management occurred in three primary stages. First,