Human resource management (HRM or HR) is the strategic procedure to the significant management of people in a company or organization so that these people help them to take a competitive advantage in their business and increase profit. It is a planned strategy to maximize their employee’s performance in the employment of an employer’s strategic purposes.
What is Human Resource Management (HR or HRM)?
Human Resource are all the people that work for an organisation and contribute to the organisation. These people establish a company’s crew. They can be regular employees or contract basis. It includes independent contractors, workers provided by contract firms, on-call workers, and temporary help agency workers. Because of the work involvement of these people are in a different extent, so an independent Human Resource Management personality can be in the same company for year’s while an agency can work for 20 companies in a year. Now non-human workers are also involving in the work for better performance, what we call Artificial Intelligence.
An independent contractor can be under contract for years at the same organization, while an agency worker can work at 20 different companies throughout one year. Because these people are all involved in the company to a different extent, the way they are managed and involved in the organization should also be different.
Human resource management is mainly concerned with the management of people within the organization, like dealing with new employees and focus on strategies and procedures. Human Resource departments are responsible for administering the employee-benefits method, employee recruitment, training and development, performance assessment, and reward management, such as managing pay and Employee benefits benefit strategies. It also concerns itself with managerial change and relations with other industrial organisations or the balancing of managerial procedures with requirements arising from cooperative bargaining agreement and governmental laws. We can say, the across-the-board purpose of the human resources department (HR) in any organisation is to ensure that the organization can achieve success through the people.
For example, when you want to hire an employee for your industry, you want to take the people who can fulfil the company lineage, such as if they will be happier, they are going to stay longer. And, you will look for benefits from the people you hired.
Basics of Human Resource Management
Recruitment & selection: Do you remember your first interview? The most visible work done by HR is Recruiting and Selection. Selecting the best one and recruiting them to work for the company is the responsibility of the HR.
Performance management: HR responsible for the performance management of the employee they have taken on board. They have to help people to perform better.
Learning & development: HR helps the employees if they face any problems in their work areas and improve their performance.
Succession planning: If an important employee wants to leave the job, HR plays the role to deal with them.
Compensation and benefits: Another one basics of HR is the compensation and benefits of the employee as well as to the company.
HR data and analytics: HR also deals with the data and analyse for a better and informed decision.
Importance of Human Resource Management
Recruitment: In an organisation, all the recruitment process in run by the Human Resource Management department. They select the candidates, who all are best suits for their company and their strategy. They always will look into the companies benefits and select & recruit new employee.
Strategy management: Human Resource Management plays the role to manage strategies to ensure that the organisation reach its business goals, also help in the decision-making process.
Benefits analysis: It tries to bring more benefits to the organisation by reducing costs through the recruitment process. These professionals are trained and they negotiate with all the factors for a better workforce and benefits.
To sustain business in the market: HR department makes sure that the company is in the hand of the right workers who will help the company to be stable in the future and deliver products excellently to its customers.
Training and development: HR also works to train to employees for its growth within the company and develop the relationship between employer and employee. Along with it, tries to reach the employee satisfaction and productivity.
Interactivity within employees: Any company run and grows with teamwork. HR tries to build better interaction through activities and events among the employee, celebrations in the organisation which gives a way to work in a team.
Managing Disputes: If any professional conflict arises between employees, HR tries to resolve it effectively by not taking any side with a proper solution. They try to help them so that personal judgement doesn’t affect their behavior.
Maintaining Work Atmosphere: A Healthy work culture is what an organisation needed. Human Resource Management tries to set up a healthy and friendly work culture which helps the organisation to reach its goal and better productivity.
Performance Appraisals: It encourages the employee working in the organisation and suggest to them where they need to work for improvement. They appreciate the work done by the employee and motivate them. It helps the company for its productivity.
Developing Public Relations: A company public relations lies in the hand of Human Resource Management. All the business meetings, seminars and all the gatherings on behalf of the company arranged by the company HR department. So HR plays the role to a great extent for company image.
Without a proper setup for Human Resource Management, any company will go through a serious problem. It will be not able to manage activities. So today, all the companies need to have an HRM department.
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Some of the Top Institutions in India for Human Resource Management
- Indian Institute of Social Welfare and Business Management
- University Business School (UBS)
- Indian Institute of Management (IIM) Ranchi
- Tata Institute of Social Sciences, Mumbai
- Management Development Institute
- International School of Business and Media
- Xavier Institute of Social Service, Ranchi
- International Management Institute (IMI) Delhi
- SVKMs Narsee Monjee Institute of Management Studies (NMIMS)
- Xavier Labour Relations Institute (XLRI)
Also read: How to join in Tata Institute of Social Sciences for higher studies?
Eligibility Criteria for Admission in HRM courses
To get admission in Human Resource Management courses you have to fulfil some of the eligibility criteria. Once you become eligible for the entrance, you can start your admission by your side. Here are the basic eligibility criteria for the HRM courses.
Diploma Level
With a diploma course also we can become a Human Resource Management employee. For that a diploma course can be pursued immediately after completion of 10+2 board.
Undergraduate Level
More you go for values, more you have to provide from your side. Apart from a diploma, interested candidates can register for the undergraduate course after scoring a minimum 50% marks in 10+2 board from a recognized board or university and finish a full fledge degree in Human resource Management.
Postgraduate Level
After graduation, for a better career option we can pursue postgraduate courses. To enrol in the post graduate course, our graduation degree should be from AICTE recognized institute or university with minimum a 50% overall percentage in the final year.
Doctoral Level
To become the master in our own subject, we can go for a Doctoral Degree. For a doctoral degree, we must finish our master’s degree in human resource management from AICTE recognized institute or university with minimum a 50% overall percentage in the final year.
With the minimum level of eligibility you can pursue the course and become the master in Human Resource Management and after this no can stop you from building a career in Human Resource Management.
Here is some of the Career Opportunities in HRM
- HR Generalist
- HR recruiter
- HR specialist
- Compensation Manager
- Employee Relations Manager
- Technical Recruiter
- Human Resources IT Specialist
- Human Resources Manager
- Non-profit Human Resources Expert
- HR Consultant
- International Human Resources Professional
- Human Resources Executive (Chief HR Officer or Vice President of Human Resources)
- Training & Development Manager
- Employee Education Consultant
- HR Entrepreneur
- Executive Recruiter
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