Human Resource Management- A Fast-Growing Domain


Posted January 22, 2021 by Saumya31

Human Resource Management is a management function dealing with the workforce of the organisation. Human resource is the most crucial resource available to any company,

 
Human Resource Management is a management function dealing with the workforce of the organisation. Human resource is the most crucial resource available to any company, as no production and functioning are possible without humans. Major Organisations prefer professionals with MBA in Human resources. Every company wants skilled and capable people to produce the best outcomes.

HRM is focused on hiring, selecting, motivating employees, providing training and development, determining salaries and compensations, and ensuring the employees' safety. Human resource management ensures smooth functioning in an organisation and contributes to achieving organisational goals.

Functions of HRM

Job Design and Analysis: -

The process of defining roles, duties, and operations of the job is job designing. It also includes the distribution of work roles allocated to a person in an organisation; this determines what the employee is doing, how is he doing and why? With the help of successful job design, meeting goals, motivation and employee satisfaction are easier.

Job analysis is describing the requirements, skills, qualifications, and experience required for the job. It is a process of collecting and analysing information about the conditions needed for the job. This is used to decide placements.

Selecting and recruiting employees:-

This is one of the main functions of Human Resource Management. With HRM, the goal is to acquire highly efficient and qualified employees and retain them. Once the recruitment process is done, the selected candidates are provided with a given job offer in their respective job positions.


Training and Development: -

Skilled employees contribute majorly to the growth of the organisation. The HR department makes sure that the newly appointed employees are updated with company-centric knowledge and that they are skilled enough to carry out their tasks. With a properly trained workforce, the business runs smoother. Holistic growth is crucial to the employees, and HRM ensures that the organisation provides abundant opportunities for growth and development.

Compensation and Benefits: -

The main goal of this function is to determine equitable remuneration for all the employees. An organisation needs to cut expenses wherever possible and crucial to pay their employees well. This is where HRM comes in by formulating rational and efficient compensation packages without burning a hole in the company's pockets. HR can also leverage the benefits and compensation to accelerate employee growth and productivity. The HR department is to formulate policies regarding compensation and benefits and also to ensure that these guidelines are implemented successfully.

That is not all, Human Resource Management is a broad spectrum of study, and HRM is said to be one of the trickiest jobs in the management world as it requires you to deal with people. HRM is very crucial to an organisation; the career possibilities are vast if you pursue an MBA in HRM, as the best companies hire professionals with a postgraduate degree from the best B-schools.
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Issued By imnu
Country India
Categories Education
Last Updated January 22, 2021