Human resource management

HUMAN
RESOURCES
MANAGEMENT
Sinchana. B
1st M. Com
Under the Guidence of
SUNDAR.B.N
Asst.prof.&course Co-Ordinatar
Post-Graduation studies in commerce
G.F.G.C.W.Holenarsipura

￮ Human: refers to the skilled workforce
in an organization.
￮ Resource: refers to limited availability of
human machine and raw materials or scarce.
￮ Management: refers how to
optimize and make best use of such limited or
scarce resource so as to meet the organization
goals and objectives.
2

MEANING AND DEFINITION OF HUMAN
RESOURCE MANAGEMENT
MEANING
Human resource management (HRM) is the
practice of recruiting, hiring, deploying and
managing an organization's employees. HRM is
often referred to simply as human resources (HR).
DEFINITION
HRM is employee management with an
emphasis on those employees as assets of the
business. In this context, employees are
sometimes referred to as human capital. As with
other business assets, the goal is to make
effective use of employees, reducing risk and
maximizing return on investment . 3

What is the importance
of Human resource?
￮ Behind production of every product or service there is an human mind, effort and
man hours (working hours). No product or service can be produced without help of
human being.
￮ Human being is fundamental resource for making or construction of anything. Every
organisation desire is to have skilled and competent people to make their
organisation competent and best.
￮ Among the five Ms of Management, i.e., men, money, machines, materials, and
methods, HRM deals about the first M, which is men. It is believed that in the five
Ms, "men" is not so easy to manage.
￮ "every man is different from other" and they are totally different from the other Ms in
the sense that men possess the power to manipulate the other Ms. Whereas, the
other Ms are either lifeless or abstract and as such, do not have the power to think
and decide what is good for them.
4

OBJECTIVES 0F HRM
Functional Objectives:
To maintain the contribution of department at an appropriate level organization should full fill the needs.
Resources are wasted when HRM is either more or less sophisticated to suit the organizations demands.
Organizational Objectives:
To recognize the role of HRM in bringing about organizational effectiveness, HRM is not an end in itself but
it is only a mean to assist the organization with its primary objectives organization.
Societal Objectives:
To be ethically & socially responsible for the needs and challenges of society while minimizing the
negative impact of such demands upon the organization to use their resources for society’s benefits in
ethical ways may lead to restriction.
Other objectives:
Accomplish the basic organizational goals by creating and utilizing an able and motivated workforce.
To establish and maintain organizational structure and desirable working relationships among all the
members of the organization.
Develop co-ordination among individual and group within organization to secure the integration of
organization.
5

PROCESS OF HRM
￮ 1. Recruitment & selection
￮ Recruiting candidates and selecting the best ones to come and work for
the company is a key HR responsibility. People are the lifeblood of the
organization and finding the best fits is a key task.
￮ The request for new hires usually starts when a new job is created or an
existing job opens up. The direct manager then sends the job description to
HR and HR starts recruiting candidates. In this process, HR can use different
selection instruments to find the best person to do the work. These include
interviews, different assessments, reference checks, and other recruitment
￮ 2. Performance management
￮ Once employees are on board, performance management becomes
important. Performance
￮ management is the second HR basic. It involves helping people to become
their best selves at work, boosting the company’s bottom line.
￮ Usually, employees have a defined set of responsibilities that they need to
take care of. Performance management is a structure that enables
employees to get feedback on their performance – to reach their best
performance.
6

￮ 3. Learning & development
￮ People are the product of life experiences, the country and era they grow up in, and a
range of cultural influences. Within HR, learning and development ensure that
employees adapt to changes in processes, technology, and societal or legal shifts.
￮ Learning and development helps employees to re skill and up skill. Learning &
Development (L&D) is led by HR and good policies can be very helpful in advancing the
organization towards its long-term goals.
￮ 4. Succession planning
￮ Succession planning is the process of planning contingencies in case of key employees
leaving the company. If, for example, a crucial senior manager quits his/her job, having
a replacement ready will guarantee continuity and can save the company significant
money.
￮ Succession planning is often based on performance ratings and L&D efforts. This results
in the creation of a talent pipeline. This is a pool of candidates who are qualified and
ready to fill (senior) positions in case of someone leaving. Building and nurturing this
pipeline is key to good people management.
7

￮ 5. Compensation and benefits
￮ Another one of the HR basics is compensation and benefits. Fair compensation is key in
motivating and retaining employees. One of the fundamentals of human resource
management concerning pay is ensuring equity and fairness.
￮ Making the right offer of pay is a key part of attracting the best talent. This must be balanced
with the budget and profit margins of the company. HR should monitor pay increases, and
set standards of merit. HR may also carry out a pay audit on occasions.
￮ 6. Human Resource Information System
￮ The last two HR basics are not HR practices but tools to do HR better. The first is the Human
Resource Information System, or HRIS.
￮ An HRIS supports all the cornerstones we discussed above. For example, for recruitment and
selection, HR professionals often use an Applicant Tracking System, or ATS, to keep track of
applicants and hires.
￮ 7. HR data and analytics
￮ The last of the HR fundamentals revolves around data and analytics. In the last half-decade,
HR has made a major leap towards becoming more data-driven.
￮ The Human Resource Information Systems we just discussed is essentially a data-entry
system. The data in these systems can be used to make better and more informed
decisions.
8

REFFRENCE
Retried From
 https//en.m.wikipedia.org>wiki
 https://www.techtarget.com>human
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Human resource management

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