Pincasso Human resource management HRMor human resource development, entails planning, implementing, and managing recruitment, as well as selection, training, career, and organizational development initiatives within an organization. The goal of HRM is to maximize the productivity of an organization by optimizing the effectiveness of its employees while simultaneously improving the work life of employees and treating employees as valuable resources.
In this article, we discuss the reasons for organizations to have a HRM strategy as well as the business drivers that make the strategy imperative for organizational success. It is from this motivation to be at the top of the pack that HRM becomes a valuable tool for management to ensure success.
The Evolving Business Paradigm One of the factors behind organizations giving a lot of attention to their people is the nature of the firms in the current business environment.
Given the fact that there has been a steady movement towards an economy based on services, it becomes important for firms engaged in the service sector to keep their employees motivated and productive. Even in the manufacturing and the traditional sectors, the need to remain competitive has meant that firms in these sectors deploy strategies that make effective use of their resources.
Strategic Management and HRM As discussed in the articles on modern day HRM practices, there is a need to align organizational goals with that of the HR strategy to ensure that there is alignment of the people policies with that of the management objectives.
This means that the HR department can no longer be viewed as an appendage of the firm but instead is a vital organ in ensuring organizational success. The aims of strategic management are to provide the organization with a sense of direction and a feeling of purpose.
The days when the HR manager was concerned with administrative duties is over and the current HRM practices in many industries are taken as seriously as say, the marketing and production functions.
Importance of HRM for Organizational Success The practice of HRM must be viewed through the prism of overall strategic goals for the organization instead of a standalone tint that takes a unit based or a micro approach. The idea here is to adopt a holistic perspective towards HRM that ensures that there are no piecemeal strategies and the HRM policy enmeshes itself fully with those of the organizational goals.
For instance, if the training needs of the employees are simply met with perfunctory trainings on omnibus topics, the firm stands to lose not only from the time that the employees spend in training but also a loss of direction.
Hence, the organization that takes its HRM policies seriously will ensure that training is based on focused and topical methods.
In conclusion, the practice of HRM needs to be integrated with the overall strategy to ensure effective use of people and provide better returns to the organizations in terms of ROI Return on Investment for every rupee or dollar spent on them. Unless the HRM practice is designed in this way, the firms stand to lose from not utilizing people fully.
And this does not bode well for the success of the organization.Pointlogic offers innovative marketing decision support systems for brands, media/creative agencies and media owners across the globe. The consumer journey can be a long and winding road - one that gets increasingly difficult for marketers to navigate every year.
Human Resource Management (HRM) is set of organizational activities aimed at effectively managing and directing human resources/labour towards achieving organizational initiativeblog.coml functions performed by HRM staff would be recruitment, selection, training and development, performance appraisal, dismissal, managing promotions and so on.
This paper examines the role of information technology (IT) directly on one central aspect of work in the twenty-first century, its impact on HRM itself.
We use the long-established ‘Harvard’ model of HRM, offering a more contextualised view of HRM, a more expansive view of stakeholders, and a wider and more long-term approach to outcomes.
1. International HRM addresses a broader range of activities than domestic HRM. These include international taxation, coordinating foreign currencies and exchange rates, international relocation, international orientation for the employee posted abroad, etc.
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International Human Resource Management and Its Challenges International human resource management (IHRM) is how MNCs [Multinational Corporations] manage the competing demand of ensuring that the organization has an international coherence in and cost effective approach to the way it managers its people in all the countries it covers, while also ensuring that it can be responsive to the.
Learn what is meant by International Strategic Human Resource Management and how HRM administer policies across international business organizations.