Human resources are the most valuable and essential resource of any organization. By reading this article, you will be able to get crystal clear idea regarding What Is Human Resource Management?
Also, you will able to know,
- What is mean by human resource?
- What is the importance of human resource?
- What Is Human Resource Management?
- What are 12 Key Functions of Human Resource Management?
- What is HRM department?
- What is the Importance of Human Resource Management?
- Watch 6 Tips on HR Management [Video]
What is mean by Human Resource?
There are many kinds of resources in an organization, such as physical resources, intellectual resources, human resources, etc. But, if someone questioned the most important resource in your organization, there is no doubt that the answer will be the human resource.
Human resources are the most valuable and essential resource of any organization, nation, or country, with its productivity, which directly contributes to any organization’s success and economy. That is the main reason behind most organizations and governments highly investing in improving human resources productivity.
Human resources are the group of people who comprise an organization’s workforce of any organization, business, or economy. Human capital, the knowledge that individuals embody, is a narrower concept. Manpower, labour, workforce, employees, associates, staff, or simply people are similar terms for human resources.
What is the importance of human resource?
Human resources are essential because organizations and nations’ growth mostly depends on human resources, including human skills, experience, talents, thought, and knowledge, contributing to an organization’s power and the whole country’s economy. Because of that, they are not easy to replace with another kind of resource.
Human resources make the first idea or decision to transform a naturally occurring substance a valuable resource. There is a human mind behind creating a product or service with commitment, efforts, dedication, and working hours.
Without support from human beings, no product or service can be made. Human beings are essential tools for everything to be created or built. To make their organization competent and strongest, every organizational desire is to have skilled and qualified employees.
Human resources support the organization and evaluate the success or failure of it. The work they do decides what clients and partners see, so treating your workers with the value they bring is crucial for you.
Employees running a company may be replaced physically, but their skillsets and expertise can’t be. This is because every hired worker brings a different set of skills to the table, even though the work yields the same set of skills.
Employees, no matter what rank, run the organization. This implies that their strength, dedication, loyalty, and commitment and their emotional link with the company should not be considered monetary valuation assets.
They are just like your organization’s heart that brings nutrition and contributors to profits and worth of the organization. Moreover, they are the first customer, face, and the foundation of any organization, but the most critical resource to manage.
What Is Human Resource Management?
In simple terms, Human resource management or HRM is described looking after or caring for a business organization’s whole human resources. It is a multidisciplinary scope that includes management, economics, sociology, psychology, communication, etc.
HRM is the strategic approach to efficiently managing employees in a business or organization to support their organization to achieve a competitive advantage. It is intended to optimize employee efficiency in the pursuit of the strategic objectives of an organization.
Collaboratively, these strategies are often referred to as techniques in HR management. It is a comprehensive way of managing the environment, culture, and the employees and an organization. It focuses on the overall direction of the employees who work for the organization .
Human Resource Management is integrated with management functions like planning, organizing, directing, and controlling HR. It is the process that includes a broad category of activities, which stating from the first step in the recruiting to handling labour compliance and more.
The set of activities, including hiring, recruiting, attracting, conducting interviews, selecting, inducting people, providing orientation, training, development, and evaluating employee efficiency and retaining workers.
Moreover, determining payment and providing benefits, motivating, maintaining properties with employees, and their trade unions, guaranteeing the safety in the workplace, welfare, and health of employees, handling labour compliance, and some other activities also include human resource management.
HRM involves the first M, among the five Ms management (men, money, machines, materials, and methods). It is assumed that Human resources or men are not so easy to handle in the Five M’s. They are entirely different from other M’s.
While the other Ms are either lifeless or conceptual and cannot make decisions and determine what’s right for themselves. Human resources are the only living thing among the Five M’s, and every man is unique and different from others, and men element or human resources have the power to control the other elements in the five M’s.
What are 12 Key Functions of Human Resource Management?
1. Human resources Planning
HR’s first role is all about understanding the organization’s potential needs. It is Focus on where the company is now and what human resources it wants to be successful in the future. What kind of employees, and how many, does the company need. All other HR roles will be formed by recognizing and understanding this well.
2. Recruitment and selection
The second HR role includes recruiting people and choosing the best applicants to work for the company. In general, attracting individuals begins with an employee brand. Selection is an HR tool to find the most skilled and highest-potential applicants.
3. Performance management
Performance management is crucial in ensuring that employees remain efficient and active. Proper Performance management requires excellent leadership, consistent goal-setting, and open feedback.
4. Learning and development
An essential responsibility for HR is to empower employees to learn the skills they need for the future. This is also connected to the first HR feature we mentioned, wherein the HR fills the gap in the near future between both the workforce today and the workforce necessary.
5. Career planning
HR’s fifth role is employee career planning, guidance, and improvement or development often referred to as career pathing.
6. Function evaluation
Function evaluation is a more technical task for HR that includes evaluating different roles in terms of employee qualification, productivity and availability, job place, working hours, economic condition, accountability for work, and how much value this job brings to the company.
A role that is impossible to ignore is to reward staff for their work.
Rewards include salaries and wages and opportunities for development and career, prestige, appreciation, a healthy corporate culture, and a pleasant balance between work and life.
8. Industrial relations
Maintaining and developing ties with labour unions and other parties and their representatives are also features of HR.
9. Employee participation and communication
Being a reliable activist for workers is one of HR’s leading roles. On various topics that are important to them, workers need to be consulted and heard. Communication relates to the distribution of employee-relevant information.
10. Health and Safety
In developing and enforcing health and security legislation, HR plays an important role. It is one of the essential functions of HR to make these regulations part of the corporate culture.
11. Personal wellbeing
HR has a part to play in supporting and taking care of workers as they run into personal issues. Personal wellbeing is about helping workers when things don’t go as expected.
12. Administrative responsibilities
Administrative responsibility is the final role of HR. This includes processes for staff and Information Systems for HR. Personnel procedures include handling illness, regulations, promotions, relocations, discipline, enhancement of performance, diversity of culture and race, unwanted intimacies, intimidation, and so on. Employee data is processed by Human Resource Information Systems ( HRIS).
What is HRM department?
The human resource Management department or HRM department is responsible and functioning with the HR in any organization to ensure an efficient and effective workforce. On the other hand, it will ensure to provide the best for the workforce too. It is handles all kind of workers and has different functions such as human resource planning, job analysis, recruiting and job interviews, human resources selection, training, development, compensation, providing salaries, benefits, and rewards, promotion, retention, career planning, quality of work-life, and employee discipline.
Moreover, issues regarding employee abuses or harassment, HR auditing, industrial relationship management, employee health and safety problems, contact with all workers at all levels, and recognition and compliance with local, state, and federal labour laws are also responsibilities of the HRM department.
What is the Importance of Human Resource Management?
The emphasis on HRM has now been changed to employees’ strategic use and the meaningful effect of employee programs on the company. Significant businesses need to be innovative, resilient, customer-centered, and easy to change course nowadays.
The importance of HRM is crucial for business success in such an area. HR professionals create processes to improve efficiency, career performance management, and the development of employees.
This keeps employees motivated, satisfied, personally dedicated, team spirit, and teamwork and leads to the business’s success. Also, the HR professional helps build the organizational culture and environment in which staff has the capacity, interest, commitment, and dedication to serving clients well.
Moreover, it is responsible and well manages human resources with proper strategic approaches. Finally, it supports achieving the employees’ individual goals, organizational goals, and development.
Watch 6 Tips on HR Management [Video]
One of the essential elements of any organization is human resource management. But today, most human resources departments are currently facing many challenges in formulating their solutions because of many changing trends in terms of workforce characteristics, technological advances, and globalization.
However, proper and successful human resource management can lead any organization to success with a more powerful and efficient workforce.
So, I hope you’s got the full idea on “What Is Human Resource Management?“
Let’s meet on next article.