B.TECH-25-HRM-LECTURE 1

LECTURE 1
THE CONCEPT OF HUMAN RESOURCE MANAGEMENT (HRM)

Human resource management is the practice of managing people to achieve better performance.
The effective management of people in an organization to help their business gain a competitive
advantage is a part of HRM. It is designed to maximize employee performance. The vital function
of HRM within an organization focuses on managing and maximizing the potential of its human
capital to achieve organizational goals. It involves a set of activities and processes designed to
attract, develop, motivate, and retain employees and create a positive work environment. There are
some key concepts associated with HRM and these are as follows.
Recruitment involves identifying and attracting potential candidates to fill vacant positions within
the organization.
Selection involves the process of choosing the most suitable candidates from the pool of
applicants.
Training involves equipping employees with the necessary skills and knowledge for their current
roles.
Development focuses on preparing employees for future responsibilities and career advancement
within the organization.
Performance management involves setting performance expectations, monitoring employee
performance, providing feedback, and conducting performance evaluations.
Compensation deals with the financial and non-financial rewards provided to employees for their
work.
Benefits include non-monetary rewards such as health insurance, retirement plans, and other perks.
Employee relations deals with managing and maintaining positive relationships between
employees and the organization, handling conflicts, and ensuring a healthy work environment.
Workforce planning involves forecasting future workforce needs and planning strategies to meet
those needs, considering factors such as turnover, retirements, and organizational growth.
Employee engagement focuses on creating a work environment where employees are motivated,
committed, and enthusiastic about their work.
Diversity and inclusion involve recognizing, valuing, and leveraging individual differences within
the workforce to enhance organizational performance.
Legal compliance ensures that HR practices comply with labor laws, regulations, and ethical
standards.
Human resource information systems (HRIS) involve the use of technology to manage HR
processes and data efficiently, including payroll, employee records, and performance metrics.
Strategic HRM is about aligning HR practices with the overall strategic goals of the organization
to enhance its competitiveness and long-term success.
The process of aligning the individual and the organizational goals does not end here. Thus, it
ensures taking good care of them so that they feel motivated to stay and give their best to
their jobs. HRM, in its essence, consists of the following in its nature:
1. It includes people-centric functions such as recruiting, training and development, performance

feedback, compensation, employee health, safety and welfare, and so on. HRM more importantly
emphasizes creating human capital. Human capital is an intangible asset which includes the
economic value of a worker’s skills knowledge, values, beliefs, work ethic and experience. It has
a significant impact on organizational success undoubtedly.
2. HRM is universal. It is prevalent everywhere. It is not just restricted to business organizations
only. It is diversified in nature and is relevant in non-business organizations too.
3. HRM is an ongoing process. For the smooth and effective functioning of the organization, there
must be effective employee management. HRM is a continuous process of managing people and
their competencies It's a never-ending process in which a manager continuously deals with people.
4. HRM is action-oriented. It means that it is not confined to rules, regulations and record-keeping
only. It aims at acting for quick resolution of employees’ problems.
5. HRM is future-oriented. Effective HRM helps in achieving future organizational goals by
recruiting and training competent and well-motivated employees.
LECTURE 2

B.TECH-25-HRM-LECTURE 1

Uploaded by

Copyright:

Available Formats

B.TECH-25-HRM-LECTURE 1

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

B.TECH-25-HRM-LECTURE 1

Uploaded by

Copyright:

Available Formats

LECTURE 1

THE CONCEPT OF HUMAN RESOURCE MANAGEMENT (HRM)

1. It includes people-centric functions such as recruiting, training and development, performance

You might also like

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.