Human Resources Management (HRM) is an important part of just about all large organizations. It is a department seems in the recruitment, welfare, education and engagement of employees as outlined by the organization policies. Put simply one could safely declare that human capital management is the organizational function that deals with various topics linked to people a company like performance management, hiring, wellness, compensation, organization development, safety, benefits, employee motivation, communication, administration, and training.
Allow me to share few key activities of done by a Human Resources Management Department in a organization:
– Organizational Design
– Performance Management and Appraisal
– Reward Systems, Benefits and Compliance
– Employee and Organizational Development
There are several activities that are component of human capital management function and these activities encompass the whole organizational put in place. As you might note in various organizations ‘Line Managers’, spend a great deal of time and energy to manage a number of human resource activities, which include disciplining, engaging, hiring, evaluating, and scheduling employees.
Hr management team or department inside an organization assist the organization with all of activities related to staffing and looking after an effective and agile workforce. Among the most important HRM responsibilities include training and development, team-building, job analysis, recruiting, performance management and appraisal, compensation, worker safety and health issues, in addition to identifying or developing critical methods for selecting staff. Human capital Department provides the tools, data and processes which are utilized by Line Managers in their human capital management component of their job.
The GPEC within an organization is just not limited to hiring and managing a large work force but research has shown that progressive and successful Human capital Management Practices 77dexqpky a major effect on corporate bottom-line and middle-line performance. Scientific study has documented the positive impact of great HR practices on productivity; product and service quality; financial performance; and expense control.
Individuals who consider Human Resources department as cost centre ignore the vital role played by HR department in human capital management. Operating a talented work force, keeping it gainfully employed and engaged is an excellent way in ensuring quality output from employees of an organization. Besides, human resources management provides competitive advantage to a corporation. It means the ability of the organization to formulate strategies that put it at favorable position in accordance with other businesses in the market.