Human resource management (HRM), also known as human resources, is the process of managing people and systems to achieve an organization’s goals. It encompasses activities like recruitment, interviewing, and managing salary. It also includes training, document-keeping, workplace safety, and record-keeping. The field also encompasses various legal duties which include the compliance with labor and employment laws. HR managers are accountable for implementing and monitoring policies to ensure ethical treatment of employees.
HR professionals utilize data to aid in making decisions about benefits and compensation like bonus or salary increases as well as to monitor the performance of employees. HR managers need to keep up-to-date with the latest developments and legal obligations in relation to these issues. These are subject to change quickly. They often collaborate with other departments to create strategies that are geared towards broader company goals.
Companies that invest in high-performing employees see increased productivity, sustainability and profits margins. HR departments have the responsibility of encouraging and supporting employees to achieve their full potential. They can use the SWOT analysis to assess the strengths and weaknesses of a company’s opportunities, threats and weaknesses. They then brainstorm specific strategies to boost the former, and minimize or avoid the latter.
Often, an effective strategy will take a lot of time to implement. Unfortunately, short-range pressures like budgets and annual plans can push HR managers to focus on immediate issues rather than long-range goals. However, successful HR managers understand the importance of patience and perseverance.