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ASSIGNMENT

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18 views

ASSIGNMENT

Hd

Uploaded by

chikuprasad889
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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ASSIGNMENT-1

Principles of Management

Name- Suman Mahasuar


Course- PMIR
Semester – 1st Semester
Roll No- 24PMIR039
Human Resource is most important from managerial point of view

Human resource (HR) management, often called HR or talent management,


comprises all the activities companies undertake to hire, develop, and engage
the workforce. And because talent is any organization’s most precious resource,
effective HR management is critical to organizational success and growth.

In this post, discover why HR management is necessary for organizations, the


many roles HR professionals fulfil, and how to break into this challenging and
rewarding field.

Human resource management has become a function with extraordinary


strategic value and a critical voice on company leadership teams. According to a
recent Bamboo HR study, 74 percent of large organizations have a senior HR
leader within the C-suite.

The importance of human resource management in most organizations comes


down to having skilled and engaged people who are aligned with organizational
goals. With enough of the right people, an organization can fulfil its vision and
remain competitive. But to do that, it must have effective HR management
programs and practices.

So why is human resource management important? Because it adds value to


organizations in the following ways:

 It supports employees through every stage of the employee lifecycle.


Human resource management comprises the programs and activities that
support hiring, managing, and developing employees from recruitment to
retirement.

 It ensures profitability through effective cost management.


Labor costs—such as salaries, benefits, and payroll taxes—often represent the
largest expense category in most organizations (up to 70 percent of the total
company expense, according to one estimate). Via well-crafted policies,
competitive pay and benefits, and people analytics that support better
budgeting and decision-making, HR professionals help organizations keep labor
costs manageable.

 It helps create a positive work culture.


Programs related to training, development, work-life balance, and diversity and
inclusion are all components of a well-run HR function, and they help create a
culture that boosts employee engagement, retention, and performance.

 It lowers compliance and other risks.


Effective human resource management helps organizations navigate the more
than 180 labor laws governing how organizations hire and manage people.
Aside from compliance support, HR teams also limit hiring and reputational risk
through on boarding, employee communication programs, and employee
surveys.

 Functions of Human Resource Management

Over the years, human resource management has progressed from a function
focused primarily on hiring, benefits management, and payroll to one tasked
with managing and improving every aspect of the employee experience. Today,
HR professionals can be generalists or specialists in one of the many disciplines
of talent management.

Here is a sampling of the different roles HR professionals fill:

 Recruitment: Managing job postings, applicant tracking, interviewing, and


working with hiring managers to fill open positions
 Employer branding: Using social media and other channels to create brand
awareness among candidates and build engagement among existing employees.
 On boarding: Creating experiences that help new hires adjust to their roles and
learn about people, processes, and culture within the organization.
 Compensation, benefits, and total rewards: Crafting new hire offers and working
with business leaders to create competitive compensation structures and
benefit programs.
 Analytics and reporting: Utilizing HR data analysis platforms to measure HR key
performance indicators (KPI) such as headcount, time to hire, and employee
engagement levels.
 Training: Developing and delivering programs that support employee skill
development and advancement.
 Employee relations: Helping managers and employees resolve conflicts and
manage issues that impede team effectiveness.
 Diversity, equity, inclusion, and belonging (DEIB): Creating a work environment
where all employees are valued for their unique perspectives and experiences.

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