Human Resource Management (HRM) Lecture Notes

Introduction to HRM

• Definition: HRM is the process of managing employees within a company, including recruitment, hiring, positioning, and management.
• Primary Purpose: To help businesses meet objectives by reducing risk and increasing return on investment (ROI).

Nature of HRM

• Founded on guiding concepts and practices that foster business success.
• Cross-departmental role; manages employees from entry-level to executives.
• Focuses on maximizing employee output and productivity.

Scope of HRM

• Human Resource Planning: Determines the number of open positions and assesses employee availability.
• Job Analysis: Provides explanations of each position to aid recruitment efforts.
• Recruitment and Selection: Involves advertising, interviewing, and selecting candidates.
• Orientation: Introduces new employees to the company culture, values, and work ethics.
• Training and Development: Offers programs to improve productivity and refresher courses for experienced staff.
• Performance Review: Conducted annually to evaluate employee performance and determine future compensation.
• Compensation and Benefits: Managed by HR to motivate and retain employees.

Importance of HRM

• HRM is critical in managing the company's most valuable asset: its employees.
• Goals include identifying staffing gaps and developing talent.

HRM's Role in Employee Benefits

• Covers workplace perks, healthcare, welfare benefits, and safety.
• Involves appointing safety officers and improving working conditions.

HRM and Workforce Development

• Maintains peace and harmony through engagement with labor unions.
• Focuses on collective bargaining and conflict resolution.

How HRM Works

• Carried out by HR specialists, led by positions like Chief People Officer or HR Director.
• Manages the employee lifecycle, including hiring, payroll, and performance reviews.

Objectives of HRM

• Primary Focus: Achieving organizational goals, utilizing human resources effectively.
• Workplace Culture: Facilitates effective team coordination and communication.
• Employee Development: Provides training and career advancement to enhance leadership roles and job security.

Skills and Responsibilities of an HR Manager

• Oversees hiring, payroll, benefits, and safety.
• Requires interpersonal, communicative, and collaborative skills.
• Must be familiar with industry trends and hold a relevant degree.

The Role of HRMS (Human Resource Management System)

• Designed to meet fundamental HR needs and transform administrative tasks into strategic activities.
• Enhances employee management, participation, retention, and compliance.
• Utilizes cloud-based technologies for efficient HR management.

Conclusion

• HRM is evolving with digital and cloud-based technologies.
• HR must adapt to remain a strategic enabler of company value.