An analysis of Human Resource Management
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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This paper examines the concept of Human Resource Management in any organization. What is human resource management? Human Resource Management is the strategic approach used in procuring, developing, and maintaining a highly skilled workforce so as to effectively attain the goals of an organization through a distinctive set of integrated employment policies, programs, and practices. According to the resource-based view, human resources contribute immensely to an organization’s sustained competitive advantage by facilitating the development of rare competencies that are only firm-specific. HRM is significant to organizations because it helps in retaining their best employees who play a part in organizational development. Therefore organizations whose aim is to maintain their competitive advantage in the current times and in the future need manpower that is well acquainted with current skills and technologies to approach change and difficulties that might come their way.
What are the functions of HRM? Human Resource Management is significant to organizations because it helps them in retaining their best employees who play a part in organizational development. The primary functions of HRM include job design and job analysis, recruitment and selection, training and development, compensation and benefits, performance management, managerial relations, and labor relations among so many others. Human Resources management is the most important part of any organization as it handles all aspects of employees, from recruitment to retirement, including wages and welfare.
What are the principles of HRM? These principles include recruitment, selection, training and development, wage administration, promotion, transfer, separation, performance appraisal, welfare administration, job evaluation, etc. Once these principles are understood and applied appropriately, they make human resource practices relevant to organizations. In a business, HRM helps in putting up measures that ensure that staffing levels correspond to the company's needs and goals, also it ensures that, employees secure their long-term positions within the organization.
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An Analysis of Human Resource Management a Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Understand what is meant by human resource management
- Understand the impact of HRM on the growth and development of an organization
- Understand how to apply resource management to any organization
1.0 INTRODUCTION
What is human resource management? Citing a book titled Human Resource Management by R. Wayne Mondy and Robert M. Noe, human resource management is defined as the critical analysis of Human Resource needs which ensures that an organization is well equipped with the appropriate number of employees with the necessary features and skills. Human Resource Planning aids the organization in anticipating its future Human Resource requirements and ascertaining various ways and means to meet those necessities. Besides, Human Resource Planning also determines the number of resources available that will help the company in the manufacture of goods hence enhancing its competitive advantage in the market. Human Resource planning also benefits talented employees and attracts fresh skilled employees into the business.
What are the functions of HRM? Human Resource Management is significant to organizations because it helps in retaining their best employees who play a part in organizational development. The primary functions of HRM include job design and job analysis, recruitment and selection, training and development, compensation and benefits, performance management, managerial relations, and labor relations among so many others. Human Resources management is the most important part of any organization as it handles all aspects of employees, from recruitment to retirement, including wages and welfare.
What are the principles of HRM? These principles include recruitment, selection, training and development, wage administration, promotion, transfer, separation, performance appraisal, welfare administration, job evaluation, etc. Once these principles are understood and applied appropriately, they make human resource practices relevant to organizations. In a business, HRM helps in putting up measures that ensure that staffing levels correspond to the company's needs and goals, also it ensures that employees secure their long-term positions within the organization. This paper is going to examine the concept of Human Resource Management in any organization.
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