Human resource management (HRM) is the process of hiring individuals, providing them with the necessary training and compensation, creating policies pertaining to them, and creating retention plans. Over the past 20 years, HRM has undergone a great deal of development as a field, making it even more crucial in today's enterprises. HRM used to be more of an administrative function than a strategic one that was essential to the organization's performance. It involved processing payroll, sending birthday gifts to employees, planning company outings, and ensuring sure forms were accurately filled out. Get out of the celebrations, birthdays, and enrolment forms, advises management guru and former General Electric CEO Jack Welch when describing the future function of HRM. Consider this: "HR is defined in times of difficulty; HR is significant in times of difficulty."
At the start of this text, it is important to emphasise that every manager has a responsibility in human resource management. Even though we do not hold the title of HR manager, we still carry out all or at least some of the HRM duties. For instance, the majority of managers deal with employee compensation, motivation, and retention, which means that these issues fall under both management and HRM. As a result, both those who will manage a firm and those who want to become HR managers should read this book.
Meaning of Human Resources
Management of organisations is done by and through individuals. Organizations can never exist without people. In fact, the individuals who make up a company's human resources are distinctive, and depending on their level of dedication, participation, and cooperation, they can make or destroy an organisation. Therefore, before we explore HR management (HRM) in detail, it is important to understand the nuances of the phrase "human resources." Human resources have been characterised in many ways by various persons that demonstrates the numerous ways that human resources are defined. Human resources, in our definition, are a grouping of individuals and the traits they exhibit at work. In numerous aspects, these are distinctive and exclusive to an organisation.