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Introduction to HRM (Key HRM Activities/Functions (3. Compensation -…
Introduction to HRM
Key HRM Activities/Functions
3. Compensation
- Ensures that the compensation system is well implemented and provides employees with adequate and equitable rewards for their contribution to meeting company goals (REWARDING AND STIMULATING PEOPLE)
1. Staffing Function
- Ensures that organisation has the proper number of employees with the appropriate skills in the right jobs and at the right time (GETTING PEOPLE)
4. Safety and Health
- Ensures that employees are protected from work related incidents
2. HR Development
- Ensures that employees develop up to date skills, abilities and are evaluated correctly (PREPARING PEOPLE)
5. Employee and Labor Relations
- Ensures proper communication channels are established and addresses employee/union concerns
Objectives and Importance of HRM
A. Objectives
Providing well trained and motivated employees
Increasing job satisfaction
Efficiently employing the right skills and abilities to work in the company
Managing change
To achieve company goals
B. Importance
Capacity to operate effectively
- HR helps to plan for the company's capacity to operate effectively as the availability of talents, commitment and effort of employees have an effect on the company's effectiveness and productivity, for example
Capacity to undertake new enterprise and change operations
- As lack of right types of employees can affect the company in its ability to take on new enterprises, HRM can help plan and prepare the company to get the right people
Managing costs
- HRM helps to manage personnel costs which are significant in many companies, for example.
Performing of HRM Activities
HR Manager
Line Manager
Definition of HRM
Programmes and practices for managing an organisation's employees
HRM Strategy and Organisational/Corporate Strategy
HRM Strategy
SUPPORTS
Organisational/Corporate Strategy
OR
Organisational/Corpoarte Strategy
DRIVES
HRM Strategy