"The Human Resource Management or HRM of a company is the management of human resources which maintains and enhances the organization’s human resources by planning, implementing, and evaluating employee relations and assessment of HRM policies, programs, and practices." The HRM of a company is responsible for maintaining the work structure by updating job requirements and job descriptions for all positions; maintain staff by establishing a recruiting, testing, and interviewing program.
The HRM is primarily concerned with the relationship of management to employees within organizations, focusing on policies and on systems. It is also responsible for overseeing employee benefits design, employee recruitment, training and development, performance appraisal and rewarding. It also concerns itself with organizational change and industrial relations, that is, the balancing of organizational practices with requirements arising from collective bargaining from governmental laws.
Human Resource Management Definition
Human Resource Management (HRM) is an indispensible part of the corporate world as it deals with management function concerned with hiring, training, labor and employee relations, and maintaining a workforce in a company. It is mainly used by the HR departments helping them to focus on policies and on systems.
History of the term
Tracing back to its history, the term human resources was coined even before the era of the noughties, precisely in the 1960s, when the importance of labor relations between employees and the management began to gain traction and when ideas such as organizational behavior, motivation, and selection assessments began to take shape. Their work often involves rewarding employees for good performance and creating a positive work environment.
A deeper dive into the HRM functions
The HR departments are to handle the employee concerns such as pay, benefits, employee investments, and pension plans, unlike the company managers who just take care of the everyday work of employees. Additionally, the work of an HR would also contain settling conflicts between employees or between employees and their managers. To say in detail, the HR management team must perform a precise set of activities if an employee leaves the organization or if they are fired, or are laid off. All of their paperwork must be finished to make sure that all the relieving processes were completed legally. Severance pay may be provided or discussed, benefits related to the provident fund must be settled, and access to organizations resources must be severed through the collection of identity cards, systems, or sensitive materials from the employee.
In the present epoch, the new role of HRM includes strategic direction and HRM metrics and measurements to validate their value. HRM team must validate their value by keeping their employer and company adhered to the lawsuits. They must perform a balancing act to serve all of an organization's stakeholders: executives, customers, owners, employees, managers, and stockholders. Thus, efficacious HR teams support the employees of the organization and give their best, contributing to the overall success of the company.
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