Human Resource Management (HRM) act as a catalyst for overall development of nation’s economy. HRM is a way of management that links people-related activities to the strategy of a business or organisation. HRM is often referred to as "strategic HRM". It has several goals:
- To meet the needs of the business and management (rather than just serve the interests of employees);
- To link human resource strategies / policies to the business goals and objectives;
- To find ways for human resources to "add value" to a business;
- To help a business gain the commitment of employees to its values, goals and objectives.
It is an approach to the management of people in an organization. Organizations are made up of people i. e employees and function through them. It is the human resource which brings success and prosperity to a business enterprise. Human Resource Management also called Personnel Management, deals with various problems relating to manpower employed. Such problems include personal planning, recruitment and selection, induction, performance appraisal, employee training and development, promotions and transfer of employees, compensation payment, career planning and participative management. The person who looks after personnel functions/ problems is called Personnel/Human Resource Manager. HRM is relatively a new term for what was earlier called as personnel management. The term HRM got popularity in the USA by 1970s. This is a management function which helps managers to plan, recruit, select, train, develop, remunerate and maintain members for an organization. HRM is the latest nomenclature use to denote personnel management. The policies of management relating to personnel matters/problems are called policies. Human Resource Management in a Business Context provides an international focus on the theory and practice of people management. A thorough and comprehensive overview of all the key aspects of HRM, including case studies, articles from HRM Guide and other sources, key concepts, review questions and problems for discussion and analysis.
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