The most valuable asset in an organization is the staff. Without them, day to day business functions cannot be carried out. This essay is about the significant role of Human Resource Management (HRM) based on my understanding and experience. In the next few paragraphs, I will talk about the various human resource functions and how my company operates.
HRM is the management of people in an organization. Its primary goal is to help the organization meet its strategic direction by hiring, maintaining and managing employees effectively. There are six functional areas of HRM, namely, strategic management, workforce planning and employment, human resource development, compensation and benefits, employee and labor relations and occupational health and safety.
Strategic management targets at how the organization produces and promotes its services and products to its competitive advantage. It is a continuous process that analyses the business and its competitors. It sets objectives and plan strategies to meet the existing and potential competitors and then reassesses each strategy regularly to determine how it has been derived and whether it is successful or requires alteration to further enhance its purpose.
In order to remain competitive in the business world, organizations must ensure that they employ the ideal people in the right numbers at the right time. Workforce planning and employment is about predicting the future demand for various types of staff and skills and seeking to match this with supply. It provides the vital link between business planning strategies and people plans for recruitment and retention, staff development and training.
Human Resource Development is about helping employees develop their personal and organizational ...