MEANING OF HRM

The process of managing people in organizations in a structured and thorough manner. This covers the fields of :-

Staffing (hiring people) Retention of people Pay and perks setting management Performance management Change management Taking care of exits from the company to round off the activities

FROM A MACRO PERSPECTIVE

Managing people in the form of a collective relationship between management and employees. This approach focuses on the objectives and outcomes of the HRM function. What this means is that the HR function in contemporary organizations is concerned with the notions of people enabling, people development and a focus on making the employment relationship fulfilling for both the management and employees.

NATURE OF HRM
ACTION ORIENTED INDIVIDUAL ORIENTED PEOPLE ORIENTED FUTURE ORIENTED DEVELOPMENT ORIENTED

COMPREHENSIVE FUNCTION
AUXILIARY SERVICE CONTINUOUS FUNCTION

OBJECTIVE OF HRM
TO HELP THE ORGANISATION REACH ITS GOALS TO EMPLOY THE SKILLS AND ABILITIES OF THE WORKFORCE EFFICIENTLY TO PROVIDE THE ORGANISATION WITH WELL- TRAINED AND WELL MOTIVATED EMPLOYEES TO INCREASE TO THE FULLEST THE EMPLOYEE'S JOB SATISFACTION AND SELF ACTUALIZATION TO DEVELOP AND MAINTAIN A QUALITY OF WORK LIFE TO COMMUNICATE HR POLICIES TO ALL EMPLOYEES TO BE ETHICALLY AND SOCIALLY RESPONSIVE TO THE NEEDS OF SOCIETY.

IMPORTANCE OF HRM

IMPORTANCE OF HRM
AT THE ENTERPRISE LEVEL

Attracting and retaining the best in the organisation. Planning or alerting the company to the types of people it will need in the short, medium and long run. Training people for challenging roles Developing right attitude towards the job and the company, Promoting team spirit among employees Developing loyalty and commitment through appropriate reward schemes.
AT THE INDIVIDUAL LEVEL It promotes team work and team spirit among employees It offers excellent growth opportunities to people who have the potential to rise. It allows people to work with diligence and commitment Handle legal pressures relating to employee related laws

IMPORTANCE OF HRM
AT THE SOCIETY LEVEL Employment opportunities multiply Scarce talent is put to its best use. Companies that pay and treat people well always race ahead of the others and deliver excellent results.

AT THE NATIONAL LEVEL Effective use of human resources helps in exploitation of natural, physical and financial resources in a better way. People with right skills Proper attitudes and appropriate values help the nation to get ahead and compete with the best in the world Thus leading to better standard of living and better employment.

FUTURE OF HRM : INFLUENCING FACTORS

SIZE OF WORKFORCE COMPOSITION OF WORKFORCE EMPLOYEE EXPECTATION CHANGES IN TECHNOLOGY LIFE STYLE CHANGES ENVIRONMENTAL CHALLENGES

PERSONNEL FUNCTION IN FUTURE * PRODUCTIVITY * RECRUITMENT AND SELECTION * TRAINING AND DEVELOPMENT * REWARDS