HRM - OVERVIEW
HRM - Overview
Human
resource management (HRM or HR) is the management of human
resources. It is designed to maximize employee performance in service
of an employer's strategic objectives. HR is primarily
concerned with the management of people within organizations, focusing
on policies and on systems. HR departments are responsible
for overseeing employee benefits design,
employee recruitment, training and development, performance
appraisal, and rewarding (e.g., managing pay and benefit systems). HR also
concerns itself with organizational change and industrial relations, that
is, the balancing of organizational practices with requirements arising from
collective bargaining and from governmental laws.HR is a product of
the human relations movement of the early 20th century, when
researchers began documenting ways of creating business value through
the strategic management of the workforce. It was initially dominated
by transactional work, such
as payroll and benefits administration, but due
to globalization, company consolidation, technological advances, and
further research, HR as of 2015 focuses on strategic initiatives
like mergers and acquisitions, talent management, succession
planning, industrial and labor relations,
and diversity and inclusion.
Human Resources is a business field focused on
maximizing employee productivity. Human Resources professionals manage the
human capital of an organization and focus on implementing policies and processes.
They can be specialists focusing in on recruiting, training, employee relations
or benefits. Recruiting specialists are in charge of finding and hiring top
talent. Training and development professionals ensure that employees are
trained and have continuous development. This is done through training
programs, performance evaluations and reward programs. Employee relations deals
with concerns of employees when policies are broken, such as harassment or
discrimination. Someone in benefits develops compensation structures, family
leave programs, discounts and other benefits that employees can get. On the
other side of the field are Human Resources Generalists or Business Partners.
These human resources professionals could work in all areas or be labor relations
representatives working with unionized employees.
In start-up companies, trained professionals
may perform HR duties. In larger companies, an entire functional group is
typically dedicated to the discipline, with staff specializing in various HR tasks
and functional leadership engaging in strategic decision-making across
the business. To train practitioners for the profession, institutions of
higher education, professional associations, and companies themselves have
established programs of study dedicated explicitly to the duties of the
function. Academic and practitioner organizations may produce field-specific
publications. HR is also a field of research study that is popular within the
fields of management and industrial/organizational psychology, with
research articles appearing in a number of academic journals, including those
mentioned later in this article.
Businesses are moving globally and forming more
diverse teams. It is the role of human resources to make sure that these teams
can function and people are able to communicate cross culturally and across
borders. Due to changes in business, current topics in human resources are
diversity and inclusion as well as using technology to advance employee
engagement. In the current global work environment, most companies focus
on lowering employee turnover and on retaining the talent and
knowledge held by their workforce. New hiring not only entails a high cost but
also increases the risk of a newcomer not being able to replace the person who
worked in a position before. HR departments strive to offer benefits that will
appeal to workers, thus reducing the risk of losing corporate knowledge.
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