Human Resource Management is the management of employees in regards with an organization. It is the process of handling various aspects such as recruitment, selection, induction, orientation, training and development, appraisals, compensation and benefits, motivation, maintaining proper relations with employees and their trade unions, ensuring employees safety, welfare and healthy measures in compliance with labour laws of the land and, local, state and federal laws.
Human Resource Management involves functions like planning, organizing, directing and controlling, procurement, development, maintenance of human resource in order to achieve individual, organizational and social objectives. It includes the study of management, psychology, communication, economics and sociology.
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Importance of Human Resource Management
Behind every invention, discovery or accomplishment is a human mind. It is a complex machine with far greater capabilities than any other machine. A human mind is a fundamental resource to build or create anything. However, it is full of curiosity and is not so easy to manage.
Among the five Ms of management, i.e., men, money, machines, materials, and methods, HRM deals about the first M, which is men. Human Resource Management is important due to the fact that it deals with Men who in comparison with other Ms is not lifeless or abstract but is independent to think and decide.
Objectives of Human Resource Management
• Societal objective: To be socially responsible to the needs and challenges of society while minimizing the negative impact of such demands upon the organization.
• Organizational objective: To recognize that Human resource management exists to contribute to organizational effectiveness.
• Functional objective: To maintain the department’s contribution at a level appropriate to the organisation’s needs.
• Personal objective: To assist employees in achieving their personal goals in order to enhance their contribution to the organization.