Management comprises planning, organizing, resourcing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources. Management focuses on the entire organization from both a short and a long-term perspective. Management is the managerial process of forming a strategic vision, setting objectives, crafting a strategy and then implementing and executing the strategy. Management goes beyond the organization’s internal operations to include the industry and the general environment. The key emphasis is on issues related to environmental scanning and industry analysis, appraisal of current and future competitors, assessment of core competencies, strategic control and the effective allocation of organizational resources.
Management branches out to many fields. One of the most important branches is Human Resource Management. Human resource management (HRM) is the strategic and coherent approach to the management of an organization's most valued assets - the people working there who individually and collectively contribute to the achievement of the objectives of the business. The terms "human resource management" and "human resources" (HR) have largely replaced the term "personnel management" as a description of the processes involved in managing people in organizations “Human resource management must be the route by which companies and employing organizations can come to terms with the new situation. It provides the means by which the fullest potential of employees can be developed and used for the benefit of both themselves and their employers.” -Roger Farrance, CBE, President, Institute of Personnel Management Human Resource management is evolving rapidly. Human resource management is both an academic theory and a business practice that addresses the theoretical and practical techniques of managing a workforce. In practice, Human Resource Management (HRM) is the function within an organization that focuses on recruitment of, management of, and providing direction for the people who work in the organization. Human Resource Management can also be performed by line managers.
In the fast changing environment, globalization, competition, increased opportunities and career orientation and many other factors have made the traditional approach to personnel management obsolete. The present situation demands a complete and strategic approach to HRM. HRM strategy must fit in the overall strategy of the organization because it involves long-term implications. The modern approach to the management acknowledges the interest of the employees – the major stakeholders of the organization.
Human Resource Management deals with issues related to people such as: 1.Staffing
2.Training and Development
Every step in HRM is of great importance and of them selection decisions stands out to be the most important. Selection decision can be sub divided into the following functions: • Determining the nature of the job to be filled
• Determining the type of personnel required
• Determining the sources of recruitment
• Determining the selection process
The first step in ‘placing the right man in the right job at the right time’ is determining the nature of the job to be performed. In order to do the HR manager must consult the concerned line manager and find out the specific nature of the job. Every step in HRM is of great importance and of them selection decisions stands out to be the most important. Selection decision can be sub divided into the following functions: •Manpower Planning
•Selection and Recruitment
In its simplest terms workforce planning is getting "the right number of people with the right skills, experiences, and...