Question

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What is human resource management and what are the aspects within a human resource plan?

Answer 1

Human Resource Management (abbreviated as HRM) refers to a strategic approach to for an effective management of people in an organization in a way that business can take maximum competitive advantage. Human Resource management deals with the concerns related to performance management, organisation development, employee compensation, wellness, safety, benefits, motivation for employee, training and many more activities. The main functions of human resource management are discussed below:

1. Managerial Functions: HRM is an integral part of the company. Therefore participate in the managerial functions of planning, directing, organising, and controlling in regard to the human resource to his department. An input provided by HR professional into the operating and capital budget is important to organizations short as well as long term profitability.

2. Operative Functions: The operative functions of human resource includes the participation in new employment of staff through the process of selection, recruitment, placement, etc. of the personnel; proper development of personnel through training; determination of equitable and adequate remuneration; employee motivation with satisfaction of employees requirements, providing good condition at work place; wellness and safety; keeping proper the records of employee; and developing good industrial relations

3. Advisory Functions: In the organisation's short term budgeting and profitability, the main input is based on human capital and movement which is provided by HR professional. For example, human resources can discuss and advice on how inflation can create the need to increase salaries in order to stay competitive in the market