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HRM to Introduction/ HR Planning, Introduction to HRM (HRM is concerned…
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Introduction to HRM
- HRM is concerned with Policies and practices that ensure the best use of the human resources for fulfilling the organizational and individual goals
- It deals with the human aspects of the organization by explaining how human being as the most important resource of the organization can leverage the performance of business
Why HRM is important
- Have a good understanding of HRM is important for managers and entrepreneurs of all kinds
- All managers are responsible for at least some of the activities that fall into the category of HRM
- Staffing the organization, designing jobs and teams
- Developing skillful employees, identifying approaches for improving their performance and rewarding them successfully are typical HRM issues.
- Understanding human behavior and the knowledge about various systems & practices to help build a skilled & motivated workforce
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The HRM Process
- Employee attraction
- Recruitment, Selection and Placement, Orientation
- Job analysis
- Train, Development, Career Planning
- Performance Appraisal
- Compensation and reward
- Motivation and maintenance
- Industrial relations
- Rewards & Recruitment issues
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Current Trends in HRM
- Human Capital
- Human resource business partner
- Human resource pervasiveness
- High involvement management
- Work life blance
- Telecommuting
HRP Definition
- Also described as the systematic process of setting policies governing the acquisition, use and dispositions of personnel in organization
- The Process of anticipating and making provision for the movement (flow) of people into, within and out of an organization
Importance of HRM
- To assess the future demand for and supply of human resources
- To eliminate possible gaps that may exist between supply and demand for human resources
- To facilitates re-adjustment as labor market conditions and organizational environment change
- To determine the current manpower status of the organization
Steps in the HRP Process
- Analyzing Organizational Objectives
- Inventory of Present Human Resources
- Forecasting Demand and Supply of Human Resource
- Estimating Manpower Ga[s
- Formulating the Human Resources Action Plan
- Monitoring Control and Feedback
Planning HRP
Effective HRP
- The right people
- With the right capabilities
- At the right time
- At the right place
Forecasting HR supply and demand
- Forecasting
The use of information (Data) from the past and present to identify expected future conditions.
- Types of Forecasts
- HR demand for labor
- Internal Supply for labor
- External Supply for labor
- Short term- Less than 1 Year
- Intermediate- Up to 5 Years
- Long-range- More than 5 Years
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Challenges of HRP
External factors
- Political instability
- Competitors
Internal factors
- Inadequate funds in forecasting DD&SS
- Turnover intention unpredictable
Consequences of Poor HRP
- High employee attrition
- Depletion of human resources
- No Succession Plan
- Increases cost in hiring and training
- Poor organizational performance
- Political infighting among employees
- Person fit and organisation fit issues
- Morale problems