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Two theories of HRM
Theory on hrm
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Introduction Human resources management (HRM) is the process of acquiring, training, appraising, and compensating employees, and of attending to their labor relations, health and safety, and fairness concerns. (Dessler, 2015). Management process functions are planning, organizing, staffing,leading,controlling but in HRM the focus is on staffing. Determining what typle of people you should hire; recruiting prospective employees; selecting employees; training and developing employees; setting performance standards;evaluating performance;counseling employees;compensating employees. (Dessler, 2015) All businesses require resources to execute their business operations plan. Employees are of key importance for a business one need to develop them to support theirs business goals. Hence, …show more content…
Human resources in small firms or businesses is essential because it helps with efficiency, morale, costs, and the ongoing continuity of your business practices. (smallbusinesshub, 2014) There are many different reasons why it is so important. The importance including budget control to ensure that staffing costs, training costs, and other HR related costs are kept to a satisfactory amount is essential for the ongoing success of any small business. (smallbusinesshub, 2014) Effective Hiring Practices as a good hire is one whose skills, knowledge and abilities match well with the requirements of the job and the culture of the small business. With HR the company can measure the morale of the firms practices this will help you to see if changes need to be made to increase morale. In order to satisfied employees satisfaction because disgruntled (unsatisfied) workforce is not good for your company, and could end up being more costly than any other problems you are
How well a business manages its assets and resources predicates its overall success. Companies that spend financial resources foolishly are apt to find themselves in bankruptcy. Companies that work capital equipment resources beyond the machine’s capabilities or for other than intended purposes are apt to experience downtime and/or lose the equipment to failure. The same premise holds true for a company’s human assets. However, unlike other company assets, which depreciate over time, human assets appreciate over time when managed properly. The article, Importance of Human Resource Investment for Organizations and Economy: A critical Analysis, explains the importance of managing human assets as follows:
In conclusion, Human Resources department plays a significant role in the organization providing a wide range of valuable services to employees in various functional areas such as recruiting and training people, developing public relations, performance appraisals, maintaining workplace atmosphere, employee relations, benefits administration and much more. More than likely, HR essentially contributes to organization’s strategies and objectives through promotion of leadership activities, building friendly workplace environment and ensuring an efficient management of talented employees overall. As a strategic asset of a company, HR improves the human capital utilization and establishes the competitive workforce based on business and market demand.
The Human Resources department is dedicated to hire and build an excellent team with a great teamwork and leadership. As one of the most important strategies of the business is the innovation of their products, it is needed people who can add value to the company through its diversity, innovation and entrepreneurial spirit, in a competitive and fun environment.
Many small and medium-sized businesses tend to put workforce management on the backburner. You might consider it as a “nice to have” but not necessarily a crucial component of your business.
Human resource management (HRM) encompasses the activities of acquiring, maintaining, and developing the organization's employees (human resources). "The traditional view of these activities focuses on planning for staffing needs, recruiting and selecting of employees, orienting and training staff, appraising their performance, providing compensations and benefits, and making their career movement and development." HRM involves two aspects:...
It is well established reality that organisations in the world today can no longer survive without focusing on their employees. If they have to be at the competitive edge they have to invest in human resource, and placing their employees on top priority. This notion has lead to the strategies that, most organisations are pursuing through employee management. To achieve the optimum performance from employees organisations must motivate their employees, and have to engage them in activities that will benefit and help employees in achieving their predetermined goals and objectives. In order to achieve this, it is imperative for managers to set in motion work conditions that will help employees to achieve satisfaction of their job, low turnover and absenteeism rate and promoting the environment that promotes the organizational commitments and organizational citizenship behavior. Job satisfaction has been identified as a major requirement for organisations which aim to achieve excellence in their operations. Armstrong (2003) refers to job satisfaction as the attributes and feelings people have about their work. By extension, job satisfaction will mean positive or favourable attitudes towards one’s job whilst a negative or unfavourable attitude indicates job dissatisfaction.
Managing human resources can be remarkably demanding for small businesses that lack the resources of larger companies. Some small-business owners handle human resources disputes on their own or with the help of one other staff member, even though HR duties include well-disposed with labor
The Importance of the Human Resource Function Human resources are the backbone of any business. It deals with the most important resource in the business – people. For any business to achieve its objectives they must plan their resources and one of their key resource is people. They need to get the right people and develop. them well in order to meet the organisation’s aims successfully.
Human Resource Management (HRM) can be defined as “the set of programs, functions, and activities designed and performed in order to capitalize on both employee as well as organizational effectiveness. It is a management function that helps organization in recruiting, selecting, and training, developing and managing
Human Resource Management of business organization is responsible to various responsibilities to ensure the operations of the business are possible with adequate staff and necessary skills are in them. Playing the most important service for any business, human resource manager are responsible to the most important and challenging aspect that is employee employer relations. This aspect of human resource management gets recognition in the organization, among the employee, national government and international body. Employee employer relations are the most critical aspect of human resource management for a country in a bigger picture.
Human resource management is a strategic and reasonable approach of an organization’s management of its assets and the people working towards the achievement of its objectives.
Staying ahead of the competition and increasing profits are the fundamental objectives for every organization. However, many firms today continue to invest extensively in business development activities and less on employee productivity. This mindset ignores the firm’s chief asset and its core foundation, its workforce.
An important part of the retention of staff, reducing staff turnover and minimising absenteeism at work is ensuring that staff are properly motivated. This is not as easy as it sounds. At first glance, you might be tempted to think that merely increasing wages is the way to motivate! Not so. Most thinkers on the subject would argue that motivation is a far more complex issue than merely 'money'.
Whether an organization consists of five or 25,000 employees, human resources management is vital to the success of the organization. HR is important to all managers because it provides managers with the resources – the employees – necessary to produce the work for the managers and the organization. Beyond this role, HR is capable of becoming a strong strategic partner when it comes to “establishing the overall direction and objectives of key areas of human resource management in order to ensure that they not only are consistent with but also support the achievement of business goals.” (Massey, 1994, p. 27)
The main purpose of Human Resource management is to develop both the individuals and the organization. This means Human Resource is not only responsible for finding and maturing talents of workers, but also putting programs in effect that will enhance communication between other workers.