Human resource management is the process of managing an organization’s employees, or human resources. Human resource management (HRM) is the acceptance that workers are not just one of the factors of production like machinery/equipment or cash but they are a key source of competitive advantage. Probably the most essential objective of HRM is the development of an extremely dedicated and versatile workforce ready and in a position to learn new skills and take on new tasks. HRM has a foundation in behavioural sciences, it is focused on the induction & development of employees which in turn improves the performance and productivity of the company.
Principles of Human Resource Approach
- Men and women are a very important resource that an organization has and managing them efficiently is paramount to organizational success.
- Human resource policies and procedures must be tightly connected to the achievements of business goals and strategic plans.
- The culture of the company should value human resources and pervades the organization all the way through to ensure that all individuals in the company work together with a shared objective. Thus, all managers are responsible for human resource management.
- All organizations are pluralist societies in which individuals have different types of interests and issues that need to be taken care of mutually.