human recourses - unit 2.1

human recourse management is the management function of deploying and developing people within an organization to meet its business objectives

the functions of human recourse management (HRM):

• workforce planning

• recruitment and selection

• training and development

• performance management

• pay and remuneration

• discipline and grievances

• employee welfare

• hiring

• talent development

• compensation

• saftey

• labor relations

workforce planning and its inportance:

workforce or human recource planning is the process of anticipating and meeting an organizations current and future staffing needs.

failure to make the most of a firms human recourses will result in the following problems:

• higher cost of recruitment

• direct on solving problems instead of achieving objectives

• lower morale and higher levels of uncertainty

• lower levels of productivity

• poor corporate image if a firm cannot retain or motivate staff

labour turnover formula

number of employees/average number employed x 100