Status and Significance of HRM
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seminar surveyer
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22-12-2010, 04:40 PM

Prepared by:
Vinay Raj R

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The Human Resources Management (HRM) function includes a variety of activities, and key among them is deciding what staffing needs you have and whether to use independent contractors or hire employees to fill these needs, recruiting and training the best employees, ensuring they are high performers, dealing with performance issues, and ensuring your personnel and management practices conform to various regulations. Activities also include managing your approach to employee benefits and compensation, employee records and personnel policies. Usually small businesses (for-profit or nonprofit) have to carry out these activities themselves because they can't yet afford part- or full-time help. However, they should always ensure that employees have and are aware of personnel policies which conform to current regulations. These policies are often in the form of employee manuals, which all employees have. Note that some people distinguish a difference between HRM (a major management activity) and HRD (Human Resource Development, a profession). Those people might include HRM in HRD, explaining that HRD includes the broader range of activities to develop personnel inside of organizations, e.g., career development, training, organization development, etc.
There is a long-standing argument about where HR-related functions should be organized into large organizations, eg, "should HR be in the Organization Development department or the other way around?” The HRM function and HRD profession have undergone tremendous change over the past 20-30 years. Many years ago, large organizations looked to the "Personnel Department," mostly to manage the paperwork around hiring and paying people. More recently, organizations consider the "HR Department" as playing a major role in staffing, training and helping to manage people so that people and the organization are performing at maximum capability in a highly fulfilling manner. Recently, the phrase "talent management" is being used to refer the activities to attract, develop and retain employees. Some people and organizations use the phrase to refer especially to talented and/or high-potential employees. The phrase often is used interchangeably with the field of Human Resource Management although as the field of talent management matures, it's very likely there will be an increasing number of people who will strongly disagree about the interchange of these fields.

Human Resource Management Courses in India are among the most coveted post graduate study programs. Human resource is perhaps the most rewarding of all resources utilized by production processes. Investments in human capital are never wasted, and companies always seek newer avenues to enrich this form of capital. Most management institutes have specialized HRM courses (human resource management) involving lessons in enhancing human capital. Human capital is a focused and exhaustive field of post graduate study involving study in labor laws, motivational techniques, organizational behavior, networking, and intellectual and attitudinal development of employed human resource. The development of human resources starts from childhood in the form of formal education in various stages, viz., kindergarten, primary school, middle school, high school, and college. Human resource management study as a subject is taught in the post graduation level. It focuses on development of human capital as a factor of production. This development of human capital is a very sensitive issue and takes careful planning and process.

Candidates willing to study Human Resource Management can earn an MSc degree in Human Resource Management and Development. You can also pursue an MBA program specializing in Human Resource Management or Master of Human Resource Management (MHRM). Even Master of Arts in Human Resource. After acquiring Human Resource Management Degree, you will gain an insight into several concepts of Management, Human Resource Accounting, Organizational Behavior and various tenets of Human Resource Management. A degree course in HRM gives you exposure to Industrial Relations Management, Personnel Management Concepts, Dynamics of Management of Change and Organizational Development.
Considering HR? Your timing is great. Human resources are transforming it. Once widely viewed as mere tacticians, paper pushers, or in-office enforcers, today’s HR professionals are increasingly seen as integral to their companies’ business success. This growing strategic role means HR now has a place at the table where real business decisions are made, and that offers unprecedented opportunities for those entering the field. Not only is HR’s stature growing; so are the job opportunities. According to the Bureau of Labor Statistics, the number of HR professions in the U.S. will rise faster than the national average over the next ten years. So while no position is completely recession-proof, HR is well positioned to ride out most economic turbulence. But there’s an even better reason to hop aboard the HR bandwagon: The work is rewarding and interesting. Human resources span multiple disciplines and require you to blend an understanding of human behavior with practical hands-on tasks and hard-core business basics. For the right type of person, that kind of challenge can be irresistible. As with any growing and desirable field, the competition to land a job can be intense. That means you’ll need a strategy for getting into human resources.

HR function is clearly shifting from being a "service provider" to a "business partner" but the requirements and needs of this new role can also be met by line managers or external providers. Hence the change of roles is both an immense opportunity and a threat for human resource managers. HR function of the future will be significantly from that in the past and that organizations need to recognize this in order to make the most of knowledge workers and knowledge professionals. HRM specialists could play a central role because questions of how to attract motivate and develop workers with scarce but critical abilities, and developing effective processes of work organization are fundamental to knowledge-based competition


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