Human Resource Management
Human: refer to the skilled workforce in the organization.
Resource: refer to limited availability or scarce.
Management: refer to maximize or proper utilization and make best use of limited and a scarce resource.
what is Human Resource Management (HRM) :
Is the function within an organization that focuses on recruitment of and providing direction for the people who work in the organization. HRM can also be performed by line managers.
Human resource management (HRM) is the governance of an organization’s employees. HRM is sometimes referred to simply as human resources (HR).
A company’s human resources department is responsible for creating, implementing and/or overseeing policies governing employee behavior and the behavior of the company toward its employees.
HRM is the organizational function that deals with issues related to people such as compensation, hiring, performance management, organization development, safety, wellness, benefits, employee motivation, communication, administration, and training.
HRM is also a strategic and comprehensive approach to managing people and the workplace culture and environment. Effective HRM enables employees to contribute effectively and productively to the overall company direction and the accomplishment of the organization’s goals and objectives.
HRM is moving away from traditional personnel, administration, and transnational roles, which are increasingly outsourced. HRM is now expected to add value to the strategic utilization of employees and that employee programs impact the business in measurable ways. The new role of HRM involves strategic direction and HRM metrics and measurements to demonstrate value.
Human resources are the people who work for the organization; human resource management is really employee management with an emphasis on those employees as assets of the business. In this context, employees are sometimes referred to as human capital. As with other business assets, the goal is to make effective use of employees, reducing risk and maximizing return on investment (ROI).
Areas of Human Resource Management oversight include – among many others — employee recruitment and retention, exit interviews, motivation, assignment selection, labor law compliance, performance reviews, training, professional development, mediation, and change management.
Recommended post to learn HRM thoroughly : What is Management
