Human Resource Management: Essential Functions and Practices

Human Resource Management (HRM)

Core Functions of HRM

Staffing

The staffing process ensures an organization has the right number of employees with the appropriate skills in the right jobs at the right time. It involves:

• Job analysis: Determining the skills, duties, and knowledge required for jobs.
• Human resource planning
• Recruitment: Attracting qualified candidates.
• Selection: Choosing the best candidate for the position.

Performance Management

Performance management is a goal-oriented process that maximizes employee, team, and organizational productivity.

Human Resource Development

This function encompasses:

• Training and development
• Career planning and development
• Organization development
• Performance management and appraisal

Compensation

Compensation provides employees with fair rewards for their contributions. It includes:

• Direct financial compensation (wages, salaries, commissions, bonuses)
• Indirect financial compensation (benefits like paid time off and insurance)
• Nonfinancial compensation (job satisfaction and work environment)

Employee and Labor Relations

This function involves managing relationships with employees and unions, including legal requirements for union recognition and bargaining.

Safety and Health

Ensuring employee safety from work-related accidents and promoting their physical and emotional well-being.

Human Resource Research

Research plays a vital role in all HRM functions, such as investigating job safety to identify causes of accidents.