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Human Resources Management (HRM)

R
Rishabh M

About Human Resources Management (HRM), its objectives, benefits, different stratergies under HRM, challenges faced by HRM and covering Personnel Management (PM) and Strategic Human Resource Management (SHRM). Also, comparing these different managements with HRM

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HR MANAGEMENT
PRESENTATION
(Unit-1 Basics of HRM)
• Name: Rishabh Mishra
• Student ID: 2020517561
• Course: BBA (2nd Year; 3rd Sem)
• Section: E
HR Management
Human resource management (HRM) is the practice of
recruiting, hiring, deploying and managing an organization's
employees. HRM is often referred to simply as human resources
(HR). It is designed to maximize employee performance in service of
an employer's strategic objectives.
According to The Harvard Model of Human Resource Management,
Human resources management involves all management decisions
and actions that affect the relationship between the organization and
its employees – in other words, its human resources.
Objectives of HRM
• Organizational Objectives
HRM is a means to achieve efficiency and effectiveness. It serves other functional
areas, so as to help them to attain efficiency in their operations and attainment of
goals to attain efficiency. Acquiring right man for the right job at right time in
right quantity, developing through right kind of training, utilizing the selected
workforce, and maintaining the workforce are the organizational objectives of
HRM. Succession planning is an important issue to be taken up as a
contemporary organizational objective
• Functional Objectives
HRM performs so many functions for other departments. However, it must see
that the facilitation should not cost more than the benefit rendered.
Objectives of HRM
• Personal Objectives
In today’s world there is shortage of requisite talent. Employees are encouraged by competitive
firms to change the jobs. HRM has the responsibility to acquire, develop, utilize, and maintain
employees.
This would be possible only when the HRM helps employees to achieve their personal goals to get
their commitment. Creating work-life balance for the employees is a personal objective.
• Societal Objectives
HRM must see that the legal, ethical, and social environmental issues are properly attended to.
Equal opportunity and equal pay for equal work are the legal issues not to be violated. To take care
of farmers (whose land has been acquired for the factory) and tribal’s (who are displaced by
industries and mining companies) are the ethical issues.
The results are clear when these issues are not taken care of. To help the society through generating
employment opportunity, creating schools and dispensaries, helping women empowerment are the
social responsibility issues.
Benefits of HRM
• Assessing Future Personnel Needs
• Foundation for Other HRM Functions
• Investment Perspective
• Expansion and Diversification Plans
• Employee Turnover
• Government/Legislative Changes
• International Expansion Strategies:
• Having Highly Talented Manpower Inventory
• Macro Risks Drive a Systematic Approach to Human Resource Planning:
• Technological Change and The New Generation
Strategies under HR
Management
• Corporate Strategy
The term corporate strategy was originally coined to describe decisions a company should make
to reach its goals and produce policies to achieve them.
• Business Strategy
Business-level strategies detail actions taken to provide value to customers and gain a
competitive advantage by exploiting core competencies in specific, individual product or service
markets. Business-level strategy helps an organization achieve core competencies, keep its focus
on satisfying the customer needs and preferences to achieve economies of scale and profit above
average.
• Functional strategy
Functional strategy deals with relatively restricted plan providing objectives for specific function,
allocation of resources among different operations within that functional area and coordination
between them for optimal contribution to the corporate-level objectives

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Human Resources Management (HRM)

  • 1. HR MANAGEMENT PRESENTATION (Unit-1 Basics of HRM) • Name: Rishabh Mishra • Student ID: 2020517561 • Course: BBA (2nd Year; 3rd Sem) • Section: E
  • 2. HR Management Human resource management (HRM) is the practice of recruiting, hiring, deploying and managing an organization's employees. HRM is often referred to simply as human resources (HR). It is designed to maximize employee performance in service of an employer's strategic objectives. According to The Harvard Model of Human Resource Management, Human resources management involves all management decisions and actions that affect the relationship between the organization and its employees – in other words, its human resources.
  • 3. Objectives of HRM • Organizational Objectives HRM is a means to achieve efficiency and effectiveness. It serves other functional areas, so as to help them to attain efficiency in their operations and attainment of goals to attain efficiency. Acquiring right man for the right job at right time in right quantity, developing through right kind of training, utilizing the selected workforce, and maintaining the workforce are the organizational objectives of HRM. Succession planning is an important issue to be taken up as a contemporary organizational objective • Functional Objectives HRM performs so many functions for other departments. However, it must see that the facilitation should not cost more than the benefit rendered.
  • 4. Objectives of HRM • Personal Objectives In today’s world there is shortage of requisite talent. Employees are encouraged by competitive firms to change the jobs. HRM has the responsibility to acquire, develop, utilize, and maintain employees. This would be possible only when the HRM helps employees to achieve their personal goals to get their commitment. Creating work-life balance for the employees is a personal objective. • Societal Objectives HRM must see that the legal, ethical, and social environmental issues are properly attended to. Equal opportunity and equal pay for equal work are the legal issues not to be violated. To take care of farmers (whose land has been acquired for the factory) and tribal’s (who are displaced by industries and mining companies) are the ethical issues. The results are clear when these issues are not taken care of. To help the society through generating employment opportunity, creating schools and dispensaries, helping women empowerment are the social responsibility issues.
  • 5. Benefits of HRM • Assessing Future Personnel Needs • Foundation for Other HRM Functions • Investment Perspective • Expansion and Diversification Plans • Employee Turnover • Government/Legislative Changes • International Expansion Strategies: • Having Highly Talented Manpower Inventory • Macro Risks Drive a Systematic Approach to Human Resource Planning: • Technological Change and The New Generation
  • 6. Strategies under HR Management • Corporate Strategy The term corporate strategy was originally coined to describe decisions a company should make to reach its goals and produce policies to achieve them. • Business Strategy Business-level strategies detail actions taken to provide value to customers and gain a competitive advantage by exploiting core competencies in specific, individual product or service markets. Business-level strategy helps an organization achieve core competencies, keep its focus on satisfying the customer needs and preferences to achieve economies of scale and profit above average. • Functional strategy Functional strategy deals with relatively restricted plan providing objectives for specific function, allocation of resources among different operations within that functional area and coordination between them for optimal contribution to the corporate-level objectives
  • 7. Strategies under HR Management • Human resources strategy An effective human resources strategy is useful in a number of related areas. These areas include number of employees required, training needs, skill levels required, compensation, performance appraisal and so on. Relationship with labour unions is an important aspect of human resources strategy. Executive development programmes require strategic attention. • Generic HR strategies Identifying the need to highlight the prevalence of generic HR strategies pursued by organizations in different contexts, Budhwar and Sparrow (2002) proposed four HR strategies. These are talent acquisition, talent improvement, effective resource allocation and cost reduction
  • 8. Challenges faced by HRM • Emotional and Physical Stability of Employees • Balance and Managing relationships between Management and Employees • Diversity in the Workplace • Training, Development and Compensation: • Recruitment and Selection • Attracting Talent to the Enterprise and talent retention • Performance Appraisal
  • 9. Personnel Management (PM) Personnel management can be defined as obtaining, using and maintaining a satisfied workforce. It is a significant part of management concerned with employees at work and with their relationship within the organization. It is defined as an administrative specialization that focuses on hiring and developing employees to become more valuable to the company. It is sometimes considered to be a sub-category of human resources that only focuses on administration. Managing personnel concentrates on certain administrative human resource categories. It includes job analyses, strategic personnel planning, performance appraisals and benefit coordination. It also involves recruitment, screening and new employee orientation and training. Lastly, it involves wages, dispute resolution and other record keeping duties.
  • 10. HRM vs PM • Human resource management is the planning, organizing, directing and controlling of the procurement, development, maintenance, and separation of human resources to the end that individual, organizational and social objectives are accomplished while Personnel management is concerned with the obtaining and maintaining of a satisfactory and a satisfied workforce and focused on attaining and sustaining a group of employees who are happy and content with the organization, its management in order to work well and give the organization their best performance to achieve organizational goals. • HRM denotes a shift in focus and strategy and is in tune with the needs of the modern organization. HRM concentrates on the planning, monitoring and control aspects of resources whereas Personnel Management was largely about mediating between the management and employees. Many experts view Personnel Management as being workforce centered whereas HRM is resource centered.
  • 11. Strategic Human Resource Management (SHRM) Strategic Human Resource Management is a combination of Strategy and Human Resource Management (HRM). It is the process of linking the human resource function with the organization’s strategic objectives to improve performance. Also, it is the proactive management of people to the desired value to them. It is designed to help companies better meet the needs of their employees while promoting company goals. SHRM aims to ensure that the organization’s culture, style, and structure and the quality, commitment, and motivation of its employees contribute fully to the achievement of business objectives.
  • 12. HRM vs SHRM • The governance of manpower of the organization in a thorough and structured manner is called Human Resource Management. And managerial function which implies framing of HR strategies in such a way to direct employees efforts towards the goals of an organization is known as Strategic Human Resource Management. • HRM is simply the process of managing human resources, in a systematic way. It is a practice devised to maximize the performance of employees, i.e. to make them more efficient and productive. SHRM is a function of management which entails development of policies, programmers and practices related to human resources, which are then aligned with business strategy, so as to achieve strategic objectives of the organization. • HRM focuses on operational issues and needs of human resources whereas SHRM focuses on overall result and issues of the organization.