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Human Resource Management

 

Description
Human Resource Management (HRM) is the management of an organization's human resources. It is responsible for the attraction, selection, training, assessment, and rewarding of employees, while also overseeing organizational leadership and culture, and ensuring compliance with employment and labor laws. HRM also focuses on strategic initiatives like mergers and acquisitions, talent management, succession planning, industrial and labor relations, and diversity and inclusion.

 

Methodology
Human Resource Management involves the following steps:
• Define the organization structure and ensure it complements the organizational strategy
• Audit the existing Human Resource practices and compare the same with best practices across the industry
• Define Human Resource processes, policies, and programs and document the same in form of a manual
• Document the roles and responsibilities of every position defined in the organization structure
• Map the key performance indicators (KPIs) of every position defined in the organization structure
• Implement the policies, processes, programs, and KPIs in the organization
• Monitor and continuously improve on Human Resource practices

 

Usage
Companies use a Human Resource Management to:
• Attract and retain best talent in the organization
• Facilitate professional growth of employees
• Improve relations between union and management
• Allocate the jobs to the right person
• Identify and reward the star performers
• Identify training needs within an organization
• Facilitate employee appraisals

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