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To put it in simple words, human resource management or HRM is defined as the practice of recruiting, hiring, selecting, inducting, imparting training to and managing a company’s employees. HRM is overseen by the human resource or HR department of an organization which creates, oversees, and implements policies governing employees.
In an organization, employees are the human capitals, are treated as assets of the business. The objective is to make judicious and effective use of employees thereby maximizing returns on their investment and reducing the risk for the firm.
HRM is an integral part of a company wherein talented professionals with the required skill-set are recruited, trained and developed to internally promote within the ranks of the firm. Through effective management, laying out HR policies, creating a company culture that employees feel proud to follow, in order to achieve the organization's mission and objectives.
Let’s take a look at the four broad categories under which HRM objectives can be placed:
An HR Manager has multiple roles and responsibilities to fulfill including but not limited to employee recruitment, onboarding and retention, talent management and workforce management, assigning job roles and career development, employee compensation and benefits, labour law compliance, performance management, training and development, succession planning, employee engagement and recognition, and team building.
Running a business isn’t a piece of cake as anyone would tell you. It involves multiple complex variables and is dependent upon their smooth functioning for smooth sailing. Whether your firm has 10 employees, 50 or 500, you require HRMS software to take care of employee attendance, their leaves, issuing of salary slips, annual holiday calendar, and more.
HR Pearls is one such HRMS software that delivers this and much, much more. It’s not just an HRMS software solution but also doubles up as a payroll management system, a compliance management system and an employee self-service portal as well!