Employees are the backbone of a company. Be it a small startup or a giant firm, businesses thrive because of their efforts. Therefore, companies need to manage their employees effectively to enhance their brand value and overall reputation. This is where Human Resource Management comes into the picture.
What is Human Resources Management?
Human Resource Management (HRM) involves fair recruitment and proper management of the workforce. It also looks into concerns associated with hiring, compensation, performance management, employee wellness and safety, benefits, administration, employee engagement and motivation, training, and organisational development. It can be also defined as a comprehensive approach that manages employees and improves the overall work environment.
What are the areas that HRM deals with?
Conducting recruitment and training:
An HRM team is responsible for recruiting and imparting training to the young talents and the best minds. Effective recruitment strategies are put to use while recruiters frame the criteria in tune with the job responsibilities. Providing training to the employees during onboarding is also another crucial aspect that is taken care of under the HRM.
Ensuring appraisals and retention:
HRM provides important information to the management concerning the employee performances based on which the employees receive their appraisals. Apart from this, HRM also plans employee retention strategies to motivate employees to continue with their current organization.
Administering compensation and benefits:
HRM has an important role to play with regard to compensation and benefits administration. It takes into consideration a lot of factors before finalizing the compensation and benefits that an employee receives. Normally, employee compensation includes – remuneration, stock purchase plans, bonuses, sick leaves, health benefits, retirement plans, and tuition reimbursements.
Communicating and handling disputes:
Disputes are inevitable at the workplace. HRM plays the role of the mediator to solve conflicts among individuals and sort out things in a peaceful manner. An HRM personnel looks into the root of the issues and comes up with a solution suitable for all the parties involved. Timely and appropriate intervention goes a long way to avoid undesirable complications.
Formulating workplace policies:
The important task of framing and implementing workplace policies also falls under the domain of HRM. The HRM professionals acknowledge the needs of the policies, asks for opinions on the existing ones and either changes them or introduces new policies as required. Workplace policies typically involve – vacation policies, discipline policy, vacation policy, ethics policy, and policies related to internet usage.
Maintaining an appropriate work environment:
HRM also concentrates on providing a proper workplace environment to the employees. Workplace culture, as well as workplace atmosphere, hugely impacts employee productivity. An employee-friendly environment is needed for employees to focus on their work and give their best.
Providing employee protection:
Employee safety is one of the major concerns of a workplace. The human resource manager in charge of the HRM is responsible to ensure that the workplace is safe and suitable for the employees to work peacefully. Employer protection concerns usually include – ventilation and heating necessities, chemical hazards, protection of employees’ personal information, etc.