The Advantages of Effective Human Resource Management
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Any organization needs resources of men, money, materials and machinery in order for it to function effectively, and Human Resource Management aids it in this purpose.
What is Human Resource Management?
The core meaning of Human Resource Management is how to manage or deal with people in an organization. There are several responsibilities of HR, such as:
1. Recruitment of the right candidate for a job.
2. Determining and managing wages.
3. Maintaining an open channel for employees to come to, with their grievances.
4. Conducting orientation and induction training.
5. Assessment of employee performance.
6. Providing benefits, incentives and compensations.
7. Motivating employees and resolving disputes.
8. Liaising between labor and trade unions.
9. Ensuring the company complies with labor laws of the state or country.
10. Ensure employees’ safety, welfare and health
HR departments have to offer substantial benefits that will appeal to employees and reduce the risk of losing them to corporate competition.
How can Human Resource Management benefit a company?
• Long-term strategic alignment- Human Resource Management links human resources, with the strategic objectives of the organization thus optimizing the performance of the company. The long-term goal of HRM is that the company’s policies and procedures, with regard to its employees, should align with its broader strategic goals.
Replacing outdated policies with ones that promote a better workplace environment and better employee relations is what effective Human Resource Management tries to achieve.
• Team-bonding-A sense of team spirit is the cornerstone of every organization. Human Resource Management ensures that all communication lines are open and any issues personal or work-related have a platform to be addressed. Open communication also helps stakeholders feel like their opinions are valued to the company’s executives.
• Measuring Progress- Serving as a yardstick of progress within the organization. Much of a company’s long-term goals rely on the cooperation and support of employees and individual departments. The role of Human Resources is to ensure that all the components of the company’s strategic plan are implemented in a timely and effective manner.
• Toeing the Legal Line- Ensuring the organization stays within legal parameters. Human Resource Management ensures the company is compliant with laws related to employees, salary, insurance, etc. Being aware of the various complex laws and policies that govern businesses, HR‘s key role is to make sure the organization’s strategic plan is not only presently legal but also amenable to change as per the newer laws and changing legal circumstances.
Currently, global work environments dictate that most companies focus on lowering employee turnover and retain present talent of the workforce. New recruitment translates into high costs and the risk of the new candidate being unable to replace the employee who was working in that position before.
Rule of Thumb
One full-time professional HR person for every 100 employees is the standard rule of thumb. However, factors such as the geographical distribution of employees, the degree of centralization of HR, the level of employees and relative complexity of the organization can cause it to vary in organizations.
HR- A viable career option
There are several institutions of higher education, professional associations and companies to train practitioners for this profession. As a field of research, HR is gaining momentum within the fields of management and industrial psychology. As a career option, Human Resource Management can help utilize an organization’s potential to the maximum.
Employers Resource helps every business at all stages with growth and development. Find out more! Call us today at (800) 559-2350.
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