The importance of Human Resource management could never b denied for any business organization. It’s like a blood running in the human body for business. There are various functions of HRM, which we need to know to understand its importance for business.
Function of Human Resource Management (HRM)
Below are the 6 major functions of Human Resource Management (HRM) department.
Staffing
In order to achieve its objectives, an organization must have qualified employees in particular jobs at particular times and places. Getting such employees contains human resource planning, job analysis, selection and recruitment.
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The process of consistently reexamining human resource needs to ensure that the needed number of employees, with the needed skills, are available when required is refer to as human Resource Planning (HRP).
The consistent process of finding the duties, skills and knowledge needed for doing particular jobs in an organization is refer to as job analysis.
The process through which an organization selects, from a set of applicants, those persons better suited both for the company and for open positions is refer to as selection.
The process of appealing such persons in suitable numbers and promoting to employ for jobs with the organization is refer to as recruitment.
Human Resource Development
A main HRM function that is not only composed of development & training but also development activities, career planning and performance appraisals of the individuals, a task that emphasizes T&D requirements.
Training is designed to give learners the skills & knowledge required for their current jobs. Learning that goes beyond recent job is included in development
It has a more long term concentration. Human Resource Development (HRD) assists overall organization, groups and individuals become more effective. It is necessary because technology, people, organizations and jobs are always changing.
Career planning is an ongoing process whereby a person determines career objectives and finds the means to accomplish them. In order to ensure that people with proper experiences & qualifications are available when required, career development is formal approach used by the organizations.
Teams & employees are measured to find how properly they are doing their assigned tasks, through performance appraisal.
Compensation & Benefits
All rewards that individuals collect as a consequence of their employment are included in the term compensation. The reward may be a combination or one of the following.
Pay: The money that an individual collects for doing a job.
Benefits: Other than base pay, additional financial rewards include sick leave, paid vacations, medical insurance and holidays.
Non-Financial Rewards: Non-monetary rewards like a pleasant working environment or enjoyment of the work done.
Safety & Health
Protecting employees from injuries as a result of work related accidents is referring as safety. The general physical & mental well-being of employees along with their freedom from illness is referring to as health.
These facets of the job are significant because employees who work in safe surroundings, relish better health have more chances of productive and give long-term benefits to the organization.
Employee and Labor Relations
The union membership has drop approximately 8 percent of the employees, since 1983, since the Great Depression it is at the lowest level.
Unions show only 9.5 percent of the private sector workforce, subtracting government employees. Even so a union should be recognized by business organization by law and in good faith bargain with it, if the employees of the organization desire the union to represent them.
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This relationship was an accepted manner of life for various employers, in the past. A union-free environment would like by many business organizations recently.
Human Resource Research
Human resource research is spread in all HRM functional areas, and the laboratory of worker is the overall work environment, although it is not listed as a separate function.
Interrelationships of HRM Functions
All functional areas of HRM are fully interrelated. Other areas are influenced by the decision in one area and that must be recognized by the management.
