In this article, we are sharing an overview of the topics covered under human resource which will help the readers to know the practices covered under HRM. Human resource can be explained as “an art and science” because it involves both. It is an art of managing people working in the organisation; it involves the application of the theories due to which it is science as well.
DEFINITION OF HRM
There are various definitions of HRM by different authors. Some of them are mentioned below:
“HRM is the related to the management of the people working in the organisation in a structured manner”. This definition further elaborates on the process of hiring people, retaining people, salaries and bonuses, change management, performance management and the annual turnover of the organisation.
In other words, “HRM is the art of managing people in such a way that it forms a collective relationship between the employees and the management”. The definition aims at the outcomes of the HRM functions.
Nowadays, HRM is all about managing people and providing them benefits in monetary and non-monetary terms. It also emphasises on planning, control and monitoring.
THE PROCESS OF HUMAN RESOURCE MANAGEMENT
Every organisation has a vision, and the whole company works towards its realisation. The achievement of the vision requires to formulate and execute the strategies by the Human resource department.
Here are the processes that HR management entails:
Human resources planning
Human resource planning is related to the process of forecasting, evaluation, layoff and promotion. It involves processes like:
It is the initial process of looking for the candidates who can fit into the job opening of the organisation. The process has to be in a cost-effective and timely manner. It also involves the process of analysing the job requirement and the integration of the newly employed candidates to the organisation.
The next step is the selection of the employees with the filtering process. In this process, the candidates are shortlisted after going through a number of interview rounds. The candidates who have the high capabilities according to the job role are hired.
Then, there is the process of hiring the people after the discussion in the HR team. The hired employee gets the offer letter that has the details about the salary package and the terms of the company.
· Training and development
The process does not end at hiring. The employees are trained on the job or off the job, depending on the rules of the organisation. Their abilities and skills are upgraded. The employees are also trained whenever an upgradation is there in their field.
Remuneration and benefits of the employees
Remuneration entails the compensation or payment, but it is not limited to that only. The commissions, bonuses or other payments are also included in this. Each corporation has its own remuneration system, but at the same time, they have to comply with the state and federal laws. The companies have to treat the employees equally regardless of their gender or race.
It is the process that is undertaken for the improvement in the performance of the employees working in the organisation. It is helpful in the identification, measurement and development of the performance of the employees engaged in the organisation. Regardless of the department, each employee has to work towards the achievement of the vision of the company. The features of performance management are:
· It is a continuous process.
· It is always linked to the objectives and mission of the company.
The efforts put by the company for the maintenance of the relation is termed as ‘employee relation’ in the books. Organisations have special programmes for maintaining the relation between the employers and the employees.
The companies having good relations with their employees tend to treat their employees equally. It has an impact on the working behaviour and loyalty of the employees. The employees tend to be more loyal towards their employers and organisations if they are treated well.
The steps and the terms included in the HR process are equally important and affect the success of the HR strategies. It requires a great level of cohesiveness and compliance for the effective implementation of the process.