Human Resource Management

Human Resource Management (HRM) is branch of management that deals with people at work, it is concerned with the human dimensions of management of the organization. As organization consists of people, therefore acquiring them, developing their skills, providing them motivation in order to attain higher goal and ensuring that the level of commitment is maintained are the important activities.

Concept of Human Capital

Liberalization, Privatization and Globalization all over the world, has created the need for quality products and quality service. It in turn necessitated organizations to compete with one another to improve the quality and device cost reduction measures to exist in the industry. That could be done only with the development of human capital which is evidenced by the rapid economic growth of Japan and other East Asian countries. The investment in human capital cannot be easily measured as it differs from one person to another.

Basically, when we talk of human capital it refers to the human knowledge, their inner capabilities and creativity.… Read the rest

Abey Francis

The Changing Nature of the Employment Relationship

Business environment is changing drastically in today’s corporate world. In early years of current management era manager were suppose to work exclusively with equipment’s, data and systems; performing traditional tasks. But scenario of management responsibilities has been changed significantly and today’s manger faces issues like cross training, personnel management, interdepartmental communication and widening job scope. Globalization is shaping and re-shaping business environment, resulting in increase of competitors, demand of new sourcing strategies and facing new markets with new demands.

Irregular flow of information often subject to quantitatively strong fluctuations, controlling the flow of information is necessary otherwise these fluctuations can become detrimental.… Read the rest

Abey Francis

Efficient Use of Human Resources

The Human Resources of an organization represent one of its largest investments. The term human resources at the macro level indicate the sum of all the components (like skill, creative ability) possessed by all the people. Human resources at the organizational level include all the component resources of all employees from rank and file to top level management. So, it includes the resource, of all people who contribute their services to the attainment of organizational goals. Human resources play a crucial role in the development process of the present economy. It is often felt that though the exploitation of natural resources, availability of physical and financial resources and international aid play prominent roles in the growth of modern economies, none of these factors is more significant than efficient and committed manpower.… Read the rest

Abey Francis

Improving Quality of Work Life

Quality of work life improvement refers to any activity for greater organizational effectiveness through the enhancement of human dignity and growth process through which the work force of the organization learn how to work together for betterment to determine for themselves what actions, changes and improvements are desirable and workable.

What work force feels about the work place?

The ‘Economic Times’ in December 1999 collected the views from top level HR executives from Indian companies on the emerging workplace. The views expressed were as follows:

  1. There would be more celebrations. Music, poetry, and art at work to provide creative moments in between the lightening speed of work.
… Read the rest
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Investment in Human Resources

There is much debate as to whether the human resources of an organization can be considered as an asset and treated accordingly in the accounting system. There are two schools of thought. One says that human resource is an asset and the other does not agree with this. Now let us see what is an asset? Asset is anything which is owned by the entity to derive service in future and should have legally enforceable claim.

As such there is no guarantee of deriving benefits from the existing human resources in future and has no sales value like other assets. Therefore, legally, human resource is not an asset claims one school of thought.… Read the rest

Abey Francis

Human Resource Accounting

To ensure growth and development of any organization, the efficiency of people must be augmented in the right perspective. Without human resources, the other resources cannot be operationally effective.  The success or otherwise of an organization depends on how best the scarce physical resources are utilized by the human resource. What is important here is that the physical resources are being activated by the human resources as the physical resources cannot act on their own. Therefore, the efficient and effective utilization of inanimate resources depends largely on the quality, caliber, skills, perception and character of the people, that is, the human resources working in it.… Read the rest

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Abey Francis