Introduction to Human Resource Management (HRM) - Detailed Overview
Category: HR & Payroll, Posted on: 22/02/2021 , Posted By: Webtel
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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.

Introduction to Human Resource Management (HRM)

Importance of HRM

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.

Objectives of HRM

Let’s take a look at the four broad categories under which HRM objectives can be placed:

  • Societal objectives: These objectives focus on the ethical and social challenges and needs including legal issues and rights of employees such as the equal opportunity for promotion, equal pay for equal work, etc.
  • Organizational objectives: These objectives are vital for the smooth functioning of the organization ensuring efficiency and efficacy by matching the right employee to the right job, recruiting the right number of employees for a given task or maintaining high employee retention rates.
  • Functional objectives: These objectives are more or less focused on keeping the HR department chugging along like a well-oiled machine and ensuring that HR resources are being utilized to their full potential.
  • Personal objectives: These objectives are geared towards making sure that the employees are able to achieve their personal objectives be it taking part in a career development program, pursuing higher studies, or undertaking a leadership role in the company.

Responsibilities of an HR Manager

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.

Is HRMS Software Necessary?

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!

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