“A strategic and coherent approach to the management of an organization’s most valued assets”- the people working there who individually & collectively contribute to the achievement of its objectives. An organization is made up of resources Men, Machine, Money, Material & methods. Of these the first one is living i.e human & other three are non living i.e non-human. It’s the human resources therefore that activate other resources. Hence, it’s the human or people that makes use of the non-human resources. Thus people are the most significant resources in an organization. Human resources differ from non-human resources in other aspects also .They differ In personality, perception, emotions, values, attitude, motives & modes of thoughts. In simple words hrm is the process of making the effective & efficient use of human resources so that organizational goals are achieved. DEFINITION BY DIFFERENT SCIENTISTS
EDWIN FLIPPO- “HRM is the planning ,organizing ,directing ,& controlling of the procurement,development,compensation,integration,maintenence & separation of human resources to the end that individual organizational & social objectives are accomplished.” David A. Decenzo & Stephen Robbins-“A process consisting of four functions Acquisition, Development, Motivation and Maintenance of Human Resource.” OBJECTIVES OF HRM
Primary objective of HRM is to ensure the availability of right people for right job, so that organizational objectives are achieved efficiently. Primary objectives can be divided into following sub objectives. * To help organization to attain its goals effectively & efficiently by providing competent & motivated employees. * To utilize the available human resources efficiently.
* To increase to the fullest the employees job satisfaction & self actualization. * To develop & maintain quality of work life
* To help maintain ethical policies & behavior inside & outside the organization * To establish & maintain cordial relationship between employees & management * To reconcile individual & group goals with the organizational goals. * Organizational effectiveness
* Human capital management
* Knowledge management
* Reward management
* BENEFITS OF HRM
1. Provides Training and Recruitment This is the most essential responsibilities of human resource management. The human resource management team works out strategies and plans of making sure they employ the right kind of people to work in their companies. They are responsible for formulating the scope of tasks to different employees and also formulating the obligations. 2. Performance evaluation The best thing about human resource management team is the fact that they encourage all employees in the firm, to work hard according to their potential in order to meet the set objectives. From time to time, human resource management communicates with all employees regarding their performance, their respective roles and also what area needs some improvement. Performance appraisal is a great way of motivating the employees, by encouraging them to do their best in their specific fields. 3. Maintains a good working atmosphere
A good working environment is essential if you want the employees to produce the desired results. A pleasant atmosphere gives an employee job gratification as well. In fact, general performance of the employees largely depends by the work culture or work atmosphere. On the other hand, human resource management has its disadvantages as well. It can be affected by external outcomes such as recent financial crisis. In addition, it is costly, time consuming, strategies and techniques can be complicated. 4. Increased Efficiency – A human resource department processes a huge amount of data, and handles a gigantic number of responsibilities. More than nearly any other department in a company, in fact. Much of this work is tedious and time consuming, involving careful input of different data...