Human Resource management (HRM)

Human Resource Management is the planning, organizing, directing and controlling the operative function of procurement, development, compensation and maintenance of human resource of an organization’s goals or objectives. It is responsible for getting the best people, training them and providing mechanism to ensure that these employees maintain their productivity affiliations with the organizations. Human resource management is concerned with the ‘people’ dimensions of the organizations. The scope of human resource management is very vast. It covers all the activities in the working life of an employee. Human resource management aims at bringing together expertise and skills in a scientific way. It helps in creating attitudes that motivate a group to achieve the organizational goals effectively and economically.

As a result of domestic and international competition, human resource management is being given a key role. The effects of competition on Human Resource Management are as follows: -

1.With manpower costs going up, and the need to bring product prices down to meet competition, manpower productivity has become a central issue in organizations. Human resource professionals will have to play a critical role to fulfill this need.
2.Another area of intervention would be in the case of joint ventures where professional will have to predict and manage culture-fit policies. Companies are focusing on people with the right profiles as also those who are more capable.
3.There is increasing emphasis on training to tap latent talent.
4.Companies have started paying attention to career growth and career planning for employee
5.Companies have showing increasing willingness to retain talent and redeploys manpower when necessary.
6.In some industry, Indian employees are being sought after aboard. This, coupled with competition for employees among Indian companies, has led to an alarming attrition rate for some companies. To meet ambitious career aspirations and salary expectations, human resource departments are using industry-wise benchmarking for salary revisions.
7.Employee competition is being linked and programmes are becoming more focused, responsive and are constantly reviewed against the external environment.
8.Contemporary practices, policies and programmes are becoming more focused, responsive and are also constantly reviewed against the external environment.
9.Globalization has resulted in an influx in foreign managers to India. There is evidence of greater mobility both within India and aboard. Furthermore, there is greater integration with world market dynamics and practices.
10.Corporate restructuring and redefining of roles are areas also under focus.

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