Human Resource is the group of all the persons who constitute the working workforce of an enterprise, company, industry, or country. A smaller more focused concept is human capital, that is the complete knowledge that the persons embody. Similar concepts come up with labor, skilled labor, human resources or simply personnel. These two concepts are often interchanged without any apparent effort to distinguish one from the other. The employment of persons as productive members of a corporation or business is human resource management.
The term human resources pertain to the recruitment and training of competent workers. This usually takes place in order to improve productivity, maximize profit and maintain or increase the rate of job turnover. A large portion of human resources management concerns itself with compensating the employees that are terminated from the organization. The compensation may take various forms such as medical benefits, provision of outstanding sick leave, enhanced retirement incomes, on-the-job training, light board or retraining allowance, profit sharing or stock options, and other compensations that employees are entitled to.
There are many factors that affect an employee’s capability to contribute to the overall efficiency and effectiveness of an organization. Some of these factors include skill, aptitude, experience, motivation, personal characteristics, personality, performance and so on. When any employee is removed form the organization the replacement is usually expected to perform in the same level as the person who has been removed.
Human resource management also involves developing policies and procedures that comply with the regulations set by government agencies. This is to ensure that the employees are accorded their due protection under the employment laws. The HRM strategy should include a well-developed benefit plan that assists the employer meets the requirements of their employees in the development and management of health, safety, and welfare of those employees who are included in the workforce. The employers should also create a work environment that encourages and provides a competitive work atmosphere for its employees.
An ideal organizational culture should be developed. This requires communication between the top management and the employees at all levels. The human resource management system must have an excellent and well-developed reporting and feedback system. This ensures that any issues raised by the employees are addressed appropriately. It should also provide opportunities for the employees to have regular feedback on their performance. This encourages the employees to remain involved in the organization.
In conclusion, there are some key takeaways that one should keep in mind when managing personnel. One should have a well-developed human resources system and have good policies and procedures that address the needs of the organization. It is also important to regularly review the human resources practices in place to make sure that they are still appropriate and effective. This helps the employer to address issues and concerns promptly and effectively.