Human Resource Management Concept of HRM Significance Importance

Human Resource Management Concept of HRM Significance / Importance Of HRM Functions of HRM

Organizational Resources / Factors of Production Money Material Machinery Men (Employees / HR)

Human Resource Management : It is a process of procuring, developing and maintaining competent workforce in an organization so that the goals of an organization are achieved in an effective and efficient manner.

Human Resource Management : It is a Management Function that helps managers Recruit, Select, Train and Develop members of an organization.

Basic Objective of HRM : To ensure that there are right number of people at right time at the right place in an organization.

Importance of HRM Ø Effective Utilization of Human resources. Ø Helps to develop people to meet demand of high work efficiency. ØTo ensure recruit and retain people - employ right people at right time at right place. ØMotivating people at all levels of organization. Etc…

HRM Functions ØHR Acquisition ( Recruitment & Selection) ØHR Development ( Training & Development) ØPerformance and Compensation ( Performance Appraisal and Payroll system) ØMotivation and Maintenance ØIndustrial Relations ØHR Information System ØHR Research ØHR Accounting ØHR Audit.

Human Resource of an organization Top Management Middle Management Supervisory Management Operatives Board Of Directors Departmental Heads Senior Supervisors Skilled workers Chief Directors Divisional Heads Immediate Supervisor Semi Skilled Workers Functional Directors Sectional Heads Front line Supervisors Unskilled Workers

Professionally HR managed companies Ø Hindustan Lever Ltd Ø ITC Ø TELCO Ø TISCO Ø Infosys Technologies Ø State Bank of India Ø Larsen & Turbo Ø Indian Oil Corporation Ø Bharat Heavy Electricals Ø Crompton Greaves Ø Bank of Baroda Ø Steel Authority of India Ø Voltas. etc….

Organization Structure Managing Director Assistant to MD Production Director Factory Managers Supervisors Marketing Director Marketing Manager Marketing Officer Finance Director Finance Manager Finance Officers HR Director HR Managers HR Officers

Features of Human Management Ø A Part of Management Discipline. Ø As a Process. Ø As a Continuous Process. Ø Concerned with People. Ø Directed towards Achievement of Objectives. Ø Universal Existence.

Significance of HRM Ø Organizational Significance. Ø Social Significance. Ø Professional Significance.

Organizational significance : �By effective utilization of Human Resource through motivating them. �To develop personnel to meet the demands of the work effectively. �By ensuring to recruit and retain personnel in the organization so that right people are available at right time and right place.

Social Significance : �Maintaining balance between jobs and job seekers in terms of job requirements and job seekers abilities and aptitudes. �Providing most productive employment from which socio psychological satisfaction can be derived. �Utilizing human capabilities effectively and matching rewards for the contributions made by people. �Eliminating wasteful organizational and individual practices.

Professional Significance : �Developing people on continuous basis. �Maintaining the dignity of personnel at the workplace. �Providing proper physical and social environment at the workplace to utilise the capabilities of the people effectively. �Providing environment and incentives for developing and utilizing creativity.

Scope of HRM Control : Human Resource Audit Human Resource Accounting Human Resource Information System Acquisition : Human Resource Planning Recruitment Selection Placement Maintenance : Remuneration Motivation Health & Safety Social Security Industrial Relations Performance Appraisal Development : Training Career Development Internal Mobility