Human resource management (HRM) is the process of acquiring, training, appraising, and compensating employees, and of attending to their labor relations, health and safety, and fairness concerns (Dessler, 2014).
Human resources management is part of management as a process. The management as a process takes care of the five basic functions of management as listed below:
Functions of management
Planning. Establishing goals and standards; developing rules and procedures; developing plans and forecasting.
Organizing. Giving each subordinate a specific task; establishing departments; delegating authority to subordinates; establishing channels of authority and communication; coordinating subordinates’ work.
Staffing. Determining what type of people you should hire; recruiting prospective employees; selecting employees; training and developing employees; setting performance standards; evaluating performance; counseling employees; compensating employees.
Leading. Getting others to get the job done; maintaining morale; motivating subordinates.
Controlling. Setting standards such as sales quotas, quality standards, or production levels; checking to see how actual performance compares with these standards; taking corrective action, as needed.
Functions of Human resource management (HRM)
Conducting job analyses
Planning labor needs and recruiting job candidates
Selecting job candidates
Orienting and training new employees
Managing wages and salaries (compensating employees)
Providing incentives and benefits Appraising performance
Communicating (interviewing, counseling, disciplining)
Training and developing managers Building employee commitment
Importance of Human Resources Management
Human resources management helps the management to avoid the following mistakes:
Hire the wrong person for the job
Experience high turnover
Have your people not doing their best
Waste time with useless interviews
Have your company taken to court because of your discriminatory actions
Have your company cited under federal occupational safety laws for unsafe practices
Have some employees think their salaries are unfair relative to others in the organization
Allow a lack of training to undermine your department’s effectiveness
Commit any unfair labor practices
The president of one company had to say this concerning human resource management………
“For many years, it has been said that capital is the bottleneck for a developing industry. I don’t think this any longer holds true. I think it’s the workforce and the company’s inability to recruit and maintain a good work force that does constitute the bottleneck for production. I don’t know of any major project backed by good ideas, vigor, and enthusiasm that has been stopped by a shortage of cash. I do know of industries whose growth has been partly stopped or hampered because they can’t maintain an efficient and enthusiastic labor force, and I think this will hold true even more in the future”
Due to intense competition, the HRM managers use the human resources strategy to boost their competition