Human resource management

Human resource management (HRM or HR) is a strategic approach to the effective and efficient management of people in a company or organisation so that they contribute to the firm's competitive advantage. Its goal is to optimise staff output in support of an organization's strategic goals. Personnel policies and processes are at the heart of human resource management, which is largely focused on people management inside enterprises. Employee benefits design, recruiting, training and development, performance evaluation and reward administration fall within the purview of HR departments. HR departments are also responsible for handling pay and employee-benefits systems. Organizational transformation and industrial relations, or the balance of organisational practises with regulations emerging from collective bargaining and governmental legislation, are other areas of interest for human resources (HR).

Human resources (HR) have the overarching goal of ensuring that the organization's success is based on its people. Human resources (HR) managers oversee the organization's human resources and execute HR policies and procedures. They may focus on any or all of the aforementioned activities, as well as maintaining good working relationships with workers or providing a variety of employee perks. The job of training and development specialists is to make sure that personnel are educated and that their skills are always being honed. Performance assessments and rewards programmes are used to accomplish this. For example, employee relations is concerned with issues like as harassment and discrimination. Employee benefits management involves designing salary structures, parental leave programmes, discount programmes, and other perks for workers.. On the other hand, HR generalists or business partners are on the scene. They might be generalists in human resources or specialise in labour relations, interacting directly with unionised workers.

Researchers started recording approaches to create company value via the strategic management of employees as part of the early 20th century's human relations movement. Although transactional tasks like payroll and benefits administration predominated in the beginning, globalisation, mergers and acquisitions, technological advancements and additional research have led HR to focus on strategic initiatives like mergers and acquisitions, talent management, succession planning, industrial and labour relations, and diversity and inclusion. HR is now one of the most important departments in a company. When it comes to keeping their employees' skills and expertise, most organisations are focused on reducing turnover. The expense of a new hire, as well as the danger of a new employee not being able to appropriately fill the role of the prior employee, are both significant. This helps HR departments avoid losing employee engagement and psychological ownership by offering attractive perks.