HRM (Human Resource Management) is the process of hiring and developing employees to increase their value to the organization.
It includes:
Conducting job analyses
Planning personnel needs
Recruiting the right people
Orienting and training employees
Managing wages and salaries
Providing benefits and incentives
Evaluating performance
Resolving disputes
Communicating with all employees at all levels
Functions of HRM
Acquisition (getting people)
Development (preparing people for work)
Motivation (activating people)
Maintenance (keeping people in the organization)
Components of HRM
Organizational Culture
The collection of values, working norms, company vision, habits, and beliefs that the business promotes.
Planning for Change
Helping employees understand their roles in the larger picture of the company.
Training and Development
Continuing education keeps employees' skills fresh, fostering new and innovative ideas.
Health and Safety
Ensuring health and safety in the workplace through policies and procedures.
(RA 11058 – An Act Strengthening compliance with Occupational Safety and Health Standards and Providing Penalties for Violations Thereof)
Recruitment and Retention
Finding qualified workers, keeping them engaged, training them effectively, and providing incentives for further education, benefits, and compensation are drivers to organizational success.
Scope of HRM
Personnel Aspect
Manpower planning, recruitment, selection, placement, transfer, promotion, training and development, layoff and retrenchment, remuneration, incentives, productivity, etc.
Welfare Aspect
Working conditions and amenities such as canteens, rest and lunch rooms, housing, transport, medical assistance, education, health and safety, recreation facilities, etc.
Industrial Relations Aspect
Union-management relations, joint consultation, collective bargaining, grievance and disciplinary procedures, settlement of disputes, etc.
Benefits HR Professionals Bring to the Workplace
Improve employee turnover
High employee turnover hurts a company’s bottom line, costing twice as much as a current employee’s salary to find and train a new recruit.
Conflict resolutions
Workplace conflict is inevitable due to different personalities, lifestyles, and work ethics.
Employee satisfaction
Human resource specialists determine employee satisfaction.
Improve employee performance
Human resources teams develop performance management systems.
Training and development
Human resource departments conduct needs assessments to determine skills training and employee development programs.
Helps with budget control
It’s critical for human resources to define as many processes as specific projects, the annual pay review or the development of a new program.