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What is Human Resources Management?
According to Mondy & Noe (2008) five functional areas are associated with effective HRM: staffing, human resource development, compensation, safety and health, and employee & labor relations.
HRP is a process of anticipating and making provision for the movement (flow) of people into, within, and out of an organization. In this function, the number and type of employees needed to accomplish organizational goals are determined. Research is an important part of this function because planning requires the collection and analysis of information in order to forecast HR supplies and to predict future human resources needs. The basic human resource planning strategy is staffing and employee development.
Performance appraisal function of HRM monitors employee performance to ensure that it is at acceptable levels. HR professionals are usually responsible for developing and administering performance appraisal systems, although the actual appraisal of employee performance is the responsibility of supervisors and managers. Besides providing a basis for pay, promotion, and disciplinary action, performance appraisal information is essential for employee development since knowledge of results is necessary to motivate and guide performance improvements. In short, performance appraisal judges effectiveness of recruitment efforts, validates selection function, determines training needs, a factor in determining pay and it justifies personnel actions. Few popular performance appraisal methods now a day are Balance Score Card, KPI etc.
Managing Compensation is another vital function of HRM. HR personnel provide a rational method for determining how much employees should be paid for performing certain jobs. Pay is obviously related to the maintenance of human resources. Compensation affects staffing in that people are generally attracted to organizations offering a higher level of pay in exchange for the work performed. It is aid or impairs recruitment, pay rates affect selectivity and pay can motivate training.
In present competitive business world training and development function is a major challenging function of HR which gives employees the skills and knowledge to perform their jobs effectively. In addition to providing training for new or inexperienced employees, organizations often provide training programmes for experienced employees whose jobs are undergoing change.