OBJECTIVES AND COMPONENTS OF HUMAN RESOURCE MANAGEMENT IN THE MODERN WORLD By SHILPI DEY
HUMAN RESOURCE Human resources are the working force in the organizational level and national level. They are the people who contribute to production, marketing, finance etc. Human resources sometimes refers to as ‘Human Capital’ mainly consisting of 3 types of capital – Intellectual capital Social capital Emotional capital Source : http://goo.gl/images/vceQQe
DEFINITION OF HRM HRM is the planning, organising, directing and controlling of the procurement, development, compensation, integration, maintenance and separation of human resources to the end that individual, organisational and social objectives are accomplished. -Edwin B. Flippo HRM has been commonly used for about the last ten to fifteen years. Prior to that, the field was generally known as ‘Personnel administration’. SOURCE: http://www.slideshare.net/human-resource-management
GROWING FUNCTIONS OF HRM IN THE MODERN WORLD Human resource management developed from the practice of personnel management, which is concerned with establishing, maintaining, and developing systems that provide the framework of employment. Five major functions of HRM in the modern word- Recruitment & selection Orientation Maintaining good working condition Managing employee relations Training & development SOURCE: http://WWW.keka.com/5-major-functions-human-resource-management/
FOUR MOST IMPORTANT FUNCTIONS OF HRM Human resource management is a modern approach of managing people at workplace. HRM is concern of managers of all level and is related with all the activities that take place in the company. To catch the objectives through managing human resource, companies should perform these four roles using components of HR. Acquisition Development Utilization Maintenance Source : http://www.businesstopia.net/functions-hrm-in-modern-world
OBJECTIVES FOR HUMAN RESOURCE MANAGEMENT Human resource management ( HRM or HR ) is the strategic approach to the effective management of organization workers so that they help the business gain a competitive advantage, Commonly referred to as the HR Department, it is designed to maximize employee performance in service of an employer's strategic objectives. The primary objective of HRM is to ensure the availability of right people for right jobs so as the organisational goals are achieved effectively. Those primary objectives have some sub-objectives To help the organisation to attain its goals effectively To utilize the available human resources effectively. To increase to the fullest the employee’s job satisfaction To develop and maintain the quality of work life To establish and maintain cordial relations between employees and management. ‘Human resources overall purpose is to ensure that the organization is able to achieve success through people.’ SOURCE SOURCE: http://www.yourarticlelibrary.com/hrm/human-resource-management-objectives/35229
OBJECTIVES WITH FUNCTIONS SOURCE: http://www.slideshare.net/hrm-onjective/
COMPONENTS FOR HRM The parts, steps or processes of Human Resource Management includes these components. Human Resource Planning Recruitment & Retention Selection Training & Development Performance Appraisal Health & safety Compensation Employee Separation SOURCE: http://smallbusiness.com/components-human-resource-management-system-64231.html
HOW TO MANAGE HUMAN RESOURCE SOURCE: http://goo.gl/images/C7ELTa
HRM IN INDIA In India, Larsen and Toubro limited was the first company to design and implement the HRD concept in 1975 among the private sector companies with an objective of facilitating growth of employees, especially people at the lower levels. In public sector government company, it was BHEL which introduced this concept in 1980. Later after 1980s Indian companies have enacted HR policies to ensure that no conflicts arise among employees and the management. HR policies in India ensure not only that all employees follow the rules, but also that the management consistently enforces them. Some HRM practising companies are SutralHR, ABC consultants, Adecco India etc. Source: http://www.myadvo.in/blog/8-important-things-in-an-hr-policy/
TWO HRM PRACTISING COMPANIES WIPRO Manpower planning Recruitment & selection Training &development Performance appraisal Promotion, Transfer & demotion Administration section Grievance handling Kaizen suggestion Welfare activities IBM Manpower planning Recruitment & selection Training &development Health insurance Compensation Flexibility of planning compensation Child care facilities Access to variety of E-learning & career sites SOURCE: http://www.slideshare.net/bhavanaRohindekar/hr-practices-in-ibm-india SOURCE: http://www.slideshare.net/bhavanaRohindekar/hr-practices-in-wipro-india