IMPORTANCE OF HUMAN RESOURCE MANAGEMENT


Introduction

The impact of human resource management (HRM) policies and practices on firm performance is an important topic in the fields of human resource management, industrial relations, and industrial and organizational psychology (Mark A. Huselid, 2013).

A growing body of work contains the argument that the use of high-performance work practices, including comprehensive employee recruitment and selection procedures, incentive compensation, and management systems, and extensive employee involvement and training can improve the knowledge, skills and abilities of current and potential employees of the company, increase their motivation, reduce shirking and improve the retention of quality employees, while encouraging non-professionals to leave the company (Jones & Wright, 1992; U.S. Department of Labor, 1993)

Definition of Human Resource Management (HRM)

According to Wikipedia, Human resource management is the strategic approach to the effective management of people in a company or organization in order to help their businesses gain a competitive advantage. It is designed to maximize employee performance to serve the employer's strategic goals.

Source: Youtube


Advantages of Human Resource Practices

  • Can hire the right people for the company from the start.
  • Conflict resolutions
  • Employee satisfaction
  • Improve employee performance
  • conduct need training programs for employees
  • Helps to budget control
  • Helps Evaluate HR Policies
  • Improves Team-building
  • Helps Monitor Progress
  • Keeps the Organization Legal

How to impact HRM practice in Nestle

Nestle HR management mainly focuses on three areas of HR Strategies.

  • People: attracting and retaining the right people 
  • Performance: achieving the full potential of our business and our people
  • Culture: creating an ethical, responsible and high-performance culture

How to impact HRM practice in ABC Company

ABC Company only have one member for HR Department. He plays all rolls of the HR Department. The company always concern employee’s performance & employee satisfaction. They annually do a motivational program for every employee.

Conclusion

The need for effective human resource practices cannot be ignored in the modern business world. A company may have a great product, but without the support of its staff, it is less likely to be successful. Having a satisfied workforce has become a competitive advantage for companies as it can ensure that employees deliver their best performance which in turn reflects on the company's performance.

 References


By N.M.Jayaweera

Comments

  1. bhashiniJune 18, 2020 at 6:58 PM

    Dear friend.... If you can summeries an Introduction of human resource management then you can take a more space to explain impact with regards to the ABC company.. Also concentrate words 350...

    ReplyDelete
  2. Thejani JayasingheJune 18, 2020 at 11:54 PM

    importance of the HRM can be discussed thoroughly but within limited words you have described nicely. Human resource is the everything in an organization and managing the main asset is takes special place in an organization . Consider about using more images to emphasize your idea.

    ReplyDelete
  3. SamanthaJune 19, 2020 at 6:41 PM

    The author has discribed the HR and its importance nice and clear way.further Concern on how HR function updated with diffrent contexts and global new trends and innovative methods in how companies manage thier employees amd challenges face by HR peoples better to addressed.
    Thank you.

    ReplyDelete

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