Human Resources Management

Human Resources Management

HRM

300

Human Resources Management

Human Resource Management is the process of managing people in organizations in a structured and thorough manner. It is all about people in organizations. Human Resource Management consists of techniques and methodologies a company relies on to strengthen the effectiveness of its employees and increase its intellectual capital along the way. This covers staffing (hiring people), retention of people, pay and perks setting, and management, performance management, change management and taking care of exits from the company. No matter what other assets an organization may possess, its human capital is one of its most essential possessions.

Primary functions of Human Resource Management

The main important function of Human Resource Management is to manage people. But there are several functions. One of the first functions is the planning stage. This is related to planning for both present and future demand and supplies. This is required to study the external market, and changes so that the planners can make a strategic plan in advance (establishing goals). The second stage would be organizing, determining what activities need to be completed to accomplish these goals. Also the Equal Employment Opportunity, which is concerned with both moral and legal responsibilities of the organizations through prevention of discriminatory policies, procedures and practices that are relevant to hiring, training, compensating, and appraising are part of that to. The third stage would be leading, ensuring that the right people are on the job with the appropriate skills, and motivating them to levels of high productivity. The fourth would be controlling, monitoring activities to ensure that goals are met. Common to any effort to achieve objectives are three elements, the first one is goals, second is limited resources, and third is people.

The Role of Human Resource Management

Human Resources Management must take a lead in assisting management with the "people" component of the organization. Being a strategic partner also involves supporting the business strategy. This means working