Definition and Nature of Human Resource Management

Introduction

• Human Resource Management (HRM): The process of managing people and the workforce.
• Importance: It is an extremely important department in every organization.
• An organization is formed with people and acquires their services.

Definition of Human Resource Management

• Human Resource: Gathering, managing, and acquiring services of people.
• Purpose of Management:
  • Motivating people for their tasks.
  • Achieving organizational goals.
  • Increasing the productivity of the workforce.

Nature of Human Resource Management

1. Essential Part of Management: It is a permanent and essential part of management.
2. Extensive Work: The work of HRM applies at every level, from CEO to labor.
3. Task-Oriented: Policies to work that are uniform for everyone and solve problems.
4. People-Centered: Focusing on people's tasks, rewards, and motivation.
5. Future-Oriented: Making decisions with an eye on the future.
6. Development-Oriented: Developing the capabilities of employees.
7. Coordinated System: Working by connecting all departments of the organization.
8. Continuous Process: It does not end once but continues.
9. Based on Human Relationships: Building relationships with employees and understanding their needs.
10. Multi-disciplinary Activities: Utilizing knowledge from psychology, economics, and finance.

Conclusion

• The purpose of human resource management is to achieve the organization's goals effectively and efficiently.
• HRM policies and decisions are extremely important for the success of the organization.

Upcoming Topic

• The next video will discuss the objectives and other functions of human resource management.