Hrm 326
Hrm323 - The essay will discuss the definition of Human Resource Management and how clear and relevant HRM strategies can contribute to an organisation’s performance. In doing so it will define the key responsibility of HRM, its approaches, functions, and how clear HRM strategy will contribute to the success of organizations. The essay will conclude that effective HRM practices within a company will enable the organisation to achieve a competitive advantage and ensure long-term success for the organisation.
What is Human Resource Management (HRM)?
Hrm 323 - HRM involves the productive use of people in achieving the organisation’s strategic business objectives, as well as the satisfaction of individual employee needs.
HRM is a major contributor to the success of an enterprise because it is in a key position to affect customers, business results and ultimately shareholder value. Successful companies are able to provide meaning and purpose, a context and frame that encourage individual potential to flourish and grow, which in turn, bring about the growth and success of the company, and take actions to maximise human resource by:
- Focusing on selecting, developing and rewarding top talent;
- Encouraging open communication, team work and collaboration and
- Refusing to tolerate poor performance or compromise their long-term objectives for short-term gains.
hrm326
Approaches to HRM
hrm 326 - There are two theoretical approaches to HRM: instrumental HRM and humanistic HRM.
Instrumental HRM (or hard approach) stresses the rational, quantitative and strategic aspects of managing human resources. Performance improvement and improved competitive advantage are highlighted. It recognizes on integrating HR policies and practices with the organisation’s business strategy.
hrm 326
What is Human Resource Management (HRM)?
Hrm 323 - HRM involves the productive use of people in achieving the organisation’s strategic business objectives, as well as the satisfaction of individual employee needs.
HRM is a major contributor to the success of an enterprise because it is in a key position to affect customers, business results and ultimately shareholder value. Successful companies are able to provide meaning and purpose, a context and frame that encourage individual potential to flourish and grow, which in turn, bring about the growth and success of the company, and take actions to maximise human resource by:
- Focusing on selecting, developing and rewarding top talent;
- Encouraging open communication, team work and collaboration and
- Refusing to tolerate poor performance or compromise their long-term objectives for short-term gains.
hrm326
Approaches to HRM
hrm 326 - There are two theoretical approaches to HRM: instrumental HRM and humanistic HRM.
Instrumental HRM (or hard approach) stresses the rational, quantitative and strategic aspects of managing human resources. Performance improvement and improved competitive advantage are highlighted. It recognizes on integrating HR policies and practices with the organisation’s business strategy.
hrm 326