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Human Resource Management is the organizational function that deals with issues related to people such as compensation, hiring, performance management, organization development, safety, wellness, benefits, employee motivation, communication, administration, and training.
Planning is necessary to give the organization its goals and directions to establish best procedure to reach the goals. Planning staff levels requires that an assessment of present and future needs of the organization be compared with present resources and future predicted resources. Appropriate steps then be planned to bring demand and supply into balance.
To retain good staff and to encourage them to give of their best while at work requires attention to the financial and psychological and even physiological rewards offered by the organization as a continuous exercise.
The nature of competition is changing. Companies are not only facing competition for companies across the globe but the competition within the country have also intensified. Liberalization, information explosion have resulted in a dramatic change in customer expectations.
Today efficient small companies, because of their cost advantage are also able to pose challenges to the big giants in some segments of certain industries.
The major challenge before today’s managers have to face is offering of quality products and services to the customers. This is because the delivery of quality products and services to the customers has a direct impact on the success of the organizations.
The challenge for managers across the world is, therefore, to have human resources to deliver quality to products and services to the customers.
Employee expectations and aspirations have changed from traditional allurement such as job security, good remuneration, housing facility to empowerment, equality and QWL. Employee expect equality with management.
The manager has to redraw new methods of motivation.