Human Resource Management In Business

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Human Resource Management In Business – Every organization, large or small, uses various types of capital to keep a business running. Capital includes cash, valuables, or goods used to generate business income. For example, a retail store uses a register and inventory, while a consulting firm may own proprietary software or buildings. Regardless of the industry, all businesses have one thing in common: they need people to make good use of their capital. This is what we will focus on throughout the text: monetizing people’s skills and abilities.

Human resource management (HRM) is the process of recruiting, training, compensating, developing policies regarding people, and developing strategies to retain them. Human resource management as a field has undergone many changes over the past twenty years, giving it a more important role in today’s organizations. In the past, human resource management meant calculating payroll, sending employees birthday presents, organizing company outings, and making sure forms were filled out correctly—in other words, it was administrative rather than strategic role, crucial to the success of the organization. . Jack Welch, former CEO of General Electric and management expert, summarizes HRM’s new role: “Stay away from parties, birthdays, and sign-up forms… Remember that HR matters in the workplace. In good times, HR is defined in bad times” (Frasch et al., 2010).

Human Resource Management In Business

Human Resource Management In Business

Here, at the outset of this text, it should be noted that every manager plays a certain role in the management of personnel. Just because we don’t have an HR manager’s name doesn’t mean we won’t handle all or at least some HR duties. For example, most managers deal with compensation, employee motivation, and retention—aspects that become not only part of human resource management but also part of management. Therefore, this book is no less important for both those who want to become human resource managers and those who want to lead a company.

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Have you ever handled personnel in your work? How is the contact information? What is the role of the department in a particular organization?

Remember that many HR functions are also duties performed by other department heads, so this information is important regardless of career path. Most experts agree on seven key roles that human resource managers play in organizations. They are described in the following sections.

You need people to get things done and get things done in the organization. Even with the most sophisticated machines, humans are still needed. So, one of the main tasks of human resource management is human resources. HR covers the entire recruitment process from job posting to salary negotiation. The HR function consists of four main phases:

Every organization has a policy to ensure fairness and continuity within the organization. One of the duties of human resource management is to develop wording related to this policy. Develop policy regarding human resource management, management and supervision in the process. For example, an HR professional has the ability to identify a need for a policy or policy change, solicit input on a policy, write a policy, and communicate it to employees. It is important to note here that the human resources department does not and cannot work alone. Everything they do must involve all other parts of the organization. Some examples of workplace policies might include:

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These topics are discussed further in Chapter 6, Compensation and Benefits, Chapter 7, Retention and Motivation, Chapter 8, Training and Development, and Chapter 9, Communicating Effectively with Employees.

Human resource management professionals must determine if wages are fair, meet industry standards, and are high enough to motivate people to work for the organization. Wages include everything an employee receives for his or her work. In addition, HR professionals must ensure that salaries are comparable to that of others in similar jobs being paid. This requires creating compensation systems that take into account years of service to the organization, years of experience, education, etc. Examples of employee wages include:

Retention involves retaining and motivating employees to stay with the organization. Salary is an important factor in employee retention, but there are other factors as well. 90% of employees leave the company for the following reasons:

Human Resource Management In Business

However, 90% of managers believe that employees leave because of salary (Rivenbark, 2010). As a result, managers often try to change their compensation packages to prevent people from leaving when compensation is not the reason for them to leave. Chapter 7, “Retention and Motivation” and Chapter 11, “Employee Evaluation,” discuss some of the best employee retention strategies based on these four factors.

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As we take the time to hire new employees, we want to make sure they are not only trained to do the job, but also continue to develop and develop new skills for their jobs. This leads to higher organizational productivity. Training is also an important component of employee motivation. Employees who feel they are improving their skills tend to be happier at work, leading to higher employee retention rates. Examples of training programs may include:

We describe each of these types of training in more detail in Chapter 8, Training and Development.

Human Resources must be aware of all laws affecting the workplace. An HR professional may work with some of the following laws:

The legal environment for human resource management is always changing, so HRM must always be aware of the changes that are taking place and then communicate these changes to the entire management organization. Instead of providing a chapter on human resource law, we will address these laws in each relevant chapter.

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Security is an important aspect in all organizations. Often, new laws are created to set federal or state standards for worker safety. Unions and union contracts can also affect worker safety requirements in the workplace. Human resources managers must be aware of requirements to protect workers and ensure that workplaces meet both federal and union standards. Occupational health and safety issues may include:

We explore these issues in more detail in Chapter 12, Working with Trade Unions, and Chapter 13, Health and Safety at Work.

Note: Knowing about labor protection laws is often the job of HR. In some industries, this is extremely important; In fact, it can mean life or death.

Human Resource Management In Business

In addition to these key roles, good communication skills and excellent leadership skills are fundamental to successful general and people management. We discuss these questions in Chapter 9, “Communicating Successfully With Employees.”

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In addition to addressing internal factors, HR managers must also consider external forces that may affect the organization. External forces or factors that are beyond the direct control of the company; however, these can be things that can have a positive or negative impact on human resources. External factors can be:

For example, recent trends toward flexible working (allowing employees to schedule their own schedules) and remote working (allowing employees to work from home or in a remote location for a period of time, for example such as a weekday) are external factors whose personnel are affected. . Another example is the Patient Protection and Affordable Care Act, signed into law in 2010. Compliance with the law has a huge impact on human capital. For example, a company with more than fifty employees must purchase health insurance or pay a penalty. Currently, it is estimated that 60% of employers provide health insurance to their employees (Cappelli, 2010). Since health insurance will be mandatory, concerns about the costs and benefits of health as a recruitment strategy are the main external challenges. Any manager who works without taking external influences into account can alienate employees, leading to unmotivated and unhappy employees. Failure to recognize external factors can also mean breaking the law, which also has some worrying consequences.

Understanding the key external factors is vital to a successful HR professional. This allows him or her to make strategic decisions based on changes in the external environment. To develop this understanding, it is necessary to read a variety of publications.

One way that managers can become aware of external forces is by attending conferences and reading various articles on the Internet. For example, the Human Resource Management Association’s SHRM Online website

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, in addition to posting job vacancies in the field, it also discusses many contemporary HR issues that can help managers make better HR decisions. In Section 1.3, Today’s Challenges in HRM, we discuss in more detail some of the recent external issues affecting the role of HR. In Section 1.1.2, The Role of HRM, we discuss some of the skills required for HRM to be successful.

Most professionals agree that there are seven main tasks that HR professionals perform. All this must be seen in context

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