Knowing what human Resource Management (HRM) is a somewhat unspoken part of becoming a professional in that field. As a result, any would-be HRM specialist must first understand the broad overview before diving in.
The goal of the HRM journey is to build valuable and profitable employees for companies in different sectors. In other words, these professionals play a considerable role in the fast-changing business ecosystem.
What is Human Resource Management?
A simple definition of Human Resource Management (HRM) is a strategic effort in man management for higher efficiency. Moreover, it is often a significant aspect of running a company or an organization to give them an advantage.
What human resource management is about also covers where you can find these professionals. For example, they work in different sectors such as media, communications, health, service, universities, finance, safety, and others.
The truth is, at one point or the other, every business needs the help of human resource management to handle specific affairs. Perhaps, this reality is more reason why HR firms have emerged hugely within the decade.
What is the most significant importance of HRM?
Human resource management focuses on the human aspect of producing goods and offering services. Moreover, since human resources are an integral part of that production, every organization must care for them.
Therefore, every organization wants to recruit a competent, skilled, and productive set of people at their disposal. On the other hand, among the five M’s of management is Men, which takes an effort to manage.
By the way, the five M’s of management include.
- Men
- Money
- Materials
- Machine
- Methods
Decrypting HRM Systems
Men are unique because they control the other M’s and become the most critical component. Human resource management is responsible for managing men to make the job easy and successful.
Having a productive team of human resources is a long process. For instance, the organization must clearly define the duties, responsibilities, requirements, and other specifications.
Then the company must identify the right personnel through hiring and then training the selected candidates.
Furthermore, there should be an assessment or appraisal of the employees’ performance, followed by a dutiful reward or correction. The HR manager should also take care of employees’ health, safety, and welfare to keep their motivation high for more productivity.
According to the regulations, the HR manager ensures that employees and employers have a healthy relationship. Meanwhile, Alan Price discussed the ten C’s of human resource management as well, as
- Cost-effectiveness
- Credibility
- Commitment
- Communication
- Creativity
- Competence
- Competition
- Cohesiveness
- Competitive advantage
- Change
What do Human Resource Managers do?
A human resource manager creates, implements, and oversees recruitment and training programs. In addition, they may lead employee rights and laws of conduct, including sexual harassment issues.
Moreover, as for in-company duties, they organize seminars, conferences, workshops, meetings, and training.
The primary activities in Human resource management (HRM) include hiring, firing, training, and motivating employees for higher productivity.
Meanwhile, placing the correct value on the HR department of a company can protect them from issues arising from the workforce.
The Human Resource Management Functions
The seven core functions of HR Management involves
- Recruitment and Selection of most suitable recruits and recommended promotions
- Training and development of individual competence and organizational performance
- Performance management includes appraisal, compensation, and correction.
- Employee relations to boost creativity, flexibility, and innovation
- Employment law and compliance
- Application of new work process design and inter-organizational mobility.
- Administration, payroll, and HR Systems
Meanwhile, there are many other functions within the HR framework. While the organization outsources some roles, they prefer to keep different parts in-house. For instance, the following procedures may be outsourced to other companies.
- A high volume of recruitment
- Temporary recruitment
- Background check including crime and health records
- Payroll and financial management
- Administrative benefits
- Coaching and training
- Compensation program design and execution
- Finally, collaborations and new partnerships
On the other hand, the following HR functions are preferably kept within the house.
- Talent development
- Employee relations
- HR strategy
- Performance management
- Capital strategic planning
Human Resource Management Salary
A valid question at this juncture is: how much do human resource managers make? According to the Bureau of Labor Statistics, HR managers earn an average of $113,300 per annum.
However, the specialization, experience, and certification can add extra value. In 2019, BL projected a 7% growth in HR management jobs between 2018 and 2028.
Steps to Becoming a Qualified Human Resource Manager
- Obtain a high school certificate (4 years).
- Earn a bachelor’s degree in HRM or closely related fields (4 years)
- Also, take an internship program (1 year)
- Gain work experience in an HR firm (2+ years)
- Get a professional master’s degree in human resource management (2 years)
- Pursue a doctorate in HRM (3 to 5 years)
- More so, you should get an HR certification
Primary Responsibilities of a Human Resource Manager
A Human Resource Manager
- Must have a good knowledge of the culture, plans, and policies of the corporate entity
- Should be a change agent and consultant to the company
- Should initiate change as expert and facilitator
- Be involved in the formulation of a company’s strategy
- Maintain communication between HR department function with all individuals and groups within and in association with the company
- He should identify and evolve HR department strategies according to the overall business principles
- To help develop different teams with a smooth working relationship
- To collaborate people’s efforts towards achieving comprehensive company’s objectives
- He should be able to diagnose problems and proffer solutions within the human resource sphere
- Coordinate and support the efficient delivery of HR programs and services
- Research new developments and measure their impacts through HR development.
Conclusion
On a final note, looking at what human resource management is about, we hope you have some answers. Apart from developing your career in this path, we expect business owners can also need HR personnel. There are many obvious reasons you should implement a human resource management strategy. Furthermore, these reasons may determine where you can take your career and business in the nearest future.