Human resource management (HRM) is that part of management process which makes, enhances, manages and develops the human element of the enterprise measuring their resourcefulness in terms of talents, abilities, total skills, creative, knowledge, and potentialities for effectively contributing to the organizational objectives. Human resources are precious and a source of competitive advantage. Human resources may be tapped most effective by mutually standard policies which promote promise and foster an inclination in employees to act flexibly in the interests of the adaptive organization’s pursuit of excellence. Human resource policies can be joined with planned business and used to reinforce appropriate culture. Human resources play a critical role in enabling the organization to effectively deal with the external environment challenges. The human resource management has been accepted as a strategic partner in the formulation of organization’s strategies and in the implementation of such strategies through human resource planning, employment, training, appraisal and rewarding the personnel.
Human resources of an organization can provide it with a reasonable advantage over its competitors in the fast changing environment. This calls for the strategic management of human resources for the accomplishment of corporate objectives. Strategic Human Resources Management (SHRM) facilitates creation of competitive advantage for the organization over its rival by building unique human resource based competence. An organization’s recruitment, selection, training, performance management process and compensation practices can have a strong influence on employee competence. Company output increase if the management can hire more experience well qualified candidate.… Read the rest