About Human Resource Management (HRM)
Embark on a transformative HR learning journey, commencing with an insightful introduction to the instructor and an exploration of fundamental HRM functions. Delve into the nature, scope, competencies, and potential career paths within the vast realm of HRM.
This course serves as a guide through the intricate landscape of Human Resource/Manpower Planning (HRP), shedding light on workforce planning stages, factors influencing HRP, and the critical aspect of job analysis. Gain valuable insights into various recruitment types, processes, policies, and the myriad factors that influence successful recruitment endeavors.
The journey extends to an in-depth exploration of end-to-end recruitment, encompassing the meaning and methods of recruitment, resume screening, interview processes, and the crucial phase of onboarding. Uncover the nuances of agreements with recruitment partners, negotiation terms, and models pertaining to on/off-roll distinctions. Navigate through employee training, induction, and development, emphasizing the significance of training programs and the implementation of Learning Management Systems (LMS).
Extend your knowledge to executive development, career planning, and the pivotal concept of employee engagement. Further, immerse yourself in the intricacies of the Performance Appraisal Management System, HR metrics, and the calculation of performance indicators. Explore concepts like Performance Improvement Plans (PIP), Labour Law, Statutory Compliances, and Salary Administration, encompassing facets like professional tax, ESIC, EPF, and gratuity.
Delve into remuneration, compensation management, HR audits, challenges in HR, industrial relations, trade unions, discipline, and human resource accounting. Navigate the ethical dimensions of HRM, addressing workplace ethics and ethical decision-making. The course culminates in an exploration of the future of HRM, envisioning changing forces, emerging concepts, technology’s impact, and key factors in HR and People Management.
Human Resource Management, and an extensive array of templates such as Employee Manual, Leave Policy, Job Application Form, Offer Letter, Appointment Letter, Intent Letter, Internship Letter, Joining Report/Letter, PIP format, Employee Master Data, Employee Attendance and Salary Working, Experience Certificate, Performance Management Policy, Goal Setting, Appraisal Form, Disciplinary Enquiry, Employee Exit Form, BVF form, Warning letter, Formula-based CTC breakup excel, Pay Slip or Salary Slip, Proforma of Invoice Formula-Based Format, and more.
Embrace this comprehensive exploration of Human Resource Management, equipping yourself with the knowledge and tools essential for navigating the dynamic and ever-evolving landscape of HR.
This course promises not only a thorough understanding of Human Resource Management but also practical resources that empower individuals to implement effective HR practices in real-world scenarios. The journey of HR exploration awaits!
Now, let’s delve deeper into the essence of Human Resource Management (HRM). When I was working, I used to think that HR jobs were the easiest—no real work, just conducting interviews all day, passing time in the canteen, taking a two-hour tea break, and then calling it a day. But, I was wrong. In my 15 years of serving in this industry, I’ve come to realize that HR roles are, in fact, the most challenging in the entire organization. As we progress through the upcoming chapters, you’ll understand why.
Before we move ahead, let me clarify that this entire section-1 is just an introduction. In the following sections, we will elaborate on each chapter in detail. In section 4, I’ll share a real story about how two employees in the TATA company committed suicide by adding kerosene oil. We will discuss the aftermath and the challenges that TATA had to face.
Now, let’s talk about the introduction to HRM. In the process of manufacturing a company’s product and delivering it to the market or customers, there’s a crucial need for human resources—meaning labor or employees. Managing these employees falls under the purview of Human Resource Management.
The responsibilities of HRM encompass various areas, including educational development, skill development, training, talent acquisition, motivation, health and safety, overall maintenance, wages/remuneration, compliances, budgeting, reward and recognition, and appraisal. In the upcoming chapters, we will dive into each of these areas, breaking down the responsibilities to ensure careful handling of every aspect, from joining to separation. This strategic approach is vital to achieving both the employee’s and the organization’s goals, encapsulating the true essence of Human Resource Management.
The role of HRM extends to ensuring that employees make a maximum contribution with effectiveness, aiming for optimal productivity. Further elaboration on these aspects will be covered in the upcoming chapters. Stay tuned for a comprehensive exploration of the intricacies of Human Resource Management.
“In the face of rapidly advancing competition and challenges, the role of HR is crucial in establishing an organization. HR has always been referred to as the backbone of a company.
HR is not only responsible for increasing the number of hires in different departments, but it also has to control the attrition ratio. Let me illustrate HRM functions with the help of a slide.
HR functions are basically categorized into 7 parts, or you can say that they are interlinked with these 7 components, as shown in the image. However, external forces also impact HRM, such as external pressures, legalities, politics, economic factors, global environments, and societal influences.
Strategic HR Management:
To make the organization a part of the competitive world or to move forward, there is a need to enhance the use of HR Matrix & HR Technology. The Human Resource Planning (HRP) function determines how many employees and what types of employees are required to accomplish the organization’s goals.
HRP involves balancing the skill mix of talent and recruiting the right people and mapping or assigning them to the right team or department. An effective team is formed by paying attention to the basic needs of employees.
**Equal Employment Opportunity:**
As the name suggests, it is about providing equal employment opportunities to everyone, and ensuring the proper compliance with laws established by the administration.
“Staffing:
Staffing means ensuring a sufficient supply of qualified individuals for a company’s staff. It involves job analysis, job design, recruitment, and selection functions. Staffing can be categorized into Permanent Staffing and Temporary Staffing (Permanent is referred to as Perm, and Temporary as Temp in staffing language).
Perm Staffing refers to on-roll jobs, while Temp Staffing refers to contractual or third-party payroll. In Section 4, we will delve deeper into these concepts.
Talent Management and Development:
This is an exciting phase for both the employee and the employer when a new employee joins a company. Providing various training and orientation programs is the company’s first step. Training and induction help the employee understand the company, its vision, goals, growth path, and aid in adjusting to the system.
Some companies provide on-the-job training, while others conduct off-the-job training programs. Off-the-job training refers to classroom training, while on-the-job training means live, on-site training sessions to ensure the employee is capable and can perform duties effectively.
Total Rewards:
Employees receive salary as a benefit for basic job performance. Additionally, various forms of compensation exist, such as performance-based incentives, variable bonuses, retention bonuses, fast-track promotions, special allowances, etc. Compensation Management determines how much an employee should be paid for a specific job profile to attract and retain talent.
Risk Management and Worker Protection:
HRM must ensure that all legal requirements for protection are met in the face of various risk factors and potential disasters in the workplace.
Employee and Labor Relations:
The relationship between managers and workers must be handled legally and effectively. HR should develop communication between the management and workers, update HR policies and procedures regularly, and manage expectations.
Role of HRM
In this chapter, we will further discuss the evolving role of HRM from an insider’s perspective. Undoubtedly, the HR department has undergone significant changes, with many companies shifting from traditional or conservative approaches to embracing human resource management.
The basic approach of HRM is to completely understand the values and principles of the company. HRM not only plays a crucial role in products or production but also provides a quality life, contributing to the economic development goals of the company.
HR generally plays three key roles:
Administrative Role of HR
The administrative role of HR is highly significant in handling administrative work such as legal papers, agreements, record-keeping, organization policies, and any recent changes in rules and regulations. The rapidly increasing functions of HRM are often outsourced to vendors for services like employee counseling, retirement planning, administration benefits, payroll process services, and manpower services.
Operational and Employee Advocate Role for HR
HR often acts as an “Employee Advocate” within the company, working alongside strategies identified by management. HR serves as a bridge between employees’ concerns and the management’s decisions. Employee advocacy ensures fair and equal treatment for every employee, although conflicts may occasionally arise, usually between sales departments and HR.
Strategic Role for HR
While HRM has gained recognition in various aspects, there are still areas where strategic contributions are crucial. This includes evaluating mergers or acquisitions by considering staffing requirements, forecasting retirements systematically at each level, and adopting modern technology for new facilities while promoting international outsourcing to reduce administrative time and costs.
In summary, the evolving role of HRM encompasses not only administrative tasks but also operational and strategic contributions. HR is not just a support function but a critical aspect that aligns with the core values and goals of the organization, contributing to its overall success.