Human Resource Management (MGT501)
MGT - 501
his subject/course is designed to teach the basic principles of Human Resource Management (HRM) to diverse audience/students, including those who are studying this as a supporting subject for their bachelor degree program. This course is designed to provide you the foundations of HRM
whether you intend to work in HRM or not, most of these elements will affect you at some point in your career. Either you will be working with some organizations or having people working for you, in both cases you will be dealing with people. To be understandable and lively means that we need to communicate you. We start every chapter with learning objectives. The most important thing you will get out of this course are the basic skills required to succeed in today’s environment which are, you must be able to communicate, think creatively, plan effectively and deal with people.
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Human Resource Management (MGT501) INTRODUCTION TO HRM After studying this chapter, students should be able to understand the following: Describe HRM? Explain why are we concerned about HRM? Discuss Road-map of HRM
VU Lesson 1
LESSON OVERVIEW This chapter introduces the students with the basic concepts of the human resource management (HRM). During the lecture, we will be discussing the three main things, i.e. the introduction to HRM, the importance of HRM, and a brief discussion of the Resource topics that will follow today’s lecture. A basic concept of management states that manager works in organizations. Organization has three basic components, People, Purpose, and Structure. HRM is the study of activates regarding people working in an Human organization. It is a managerial function that tries to match an organization’s needs to the skills and abilities of its employees. Let’s see what is meant by the three HRM key terms… human, resource, and management. • Human (Homo-sapiens – Social Animal) • Resources (Human, Physical, Financial, Technical, Informational etc) • Management (Function of Planning, Organizing, Leading & Controlling resources to accomplish goals efficiently and effectively)
Dr. Mukhtar Ahmed
Functions of HRM Basic functions that all managers perform: planning, organizing, staffing, leading, and controlling. HR management involves the policies and practices needed to carry out the staffing (or people) function of management. HRM department regardless of the organization’s size must perform following human resource management functions… • Staffing (HR planning, recruitment and selection) • Human resource development • Compensation and benefits • Safety and health • Employee and labor relations • Records maintaining, etc. • HR research (providing a HR information base, designing and implementing employee communication system). • Interrelationship of HR functions. A. What is human resource management? As we said that HRM is the management of people working in an organization, it is a subject related to human. For simplicity, we can say that it is the management of humans or people. HRM is a managerial function that tries to match an organization’s needs to the skills and abilities of its employees. Human Resource Management is responsible for how people are managed in the organizations. It is responsible for bringing people in organization helping them perform their work, compensating them for their work and solving problems that arise. Growing Importance of HRM The success of organizations increasingly depends on people-embodied know-how- the knowledge, skill, Copyright © Virtual University of Pakistan
Human Resource Management (MGT501)
and abilities imbedded in an organization's members. This knowledge base is the foundation of an organization' core competencies (integrated knowledge sets within an organization that distinguish it from its competitors and deliver value to...
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