Human Resource Management (HRM) is all about balancing the organization’s people and processes to best achieve the goals and the strategies of the organization, as well as the goals and the needs of employees. The main role an HR manager has to fulfill is integrating business operations and strategies across a wide array of culture, products, and ideas, while effectively delegating work among human resource specialists and line management.
Apart from being concerned with local issues of employees, HR must also consider these five basic functions and effects of workforce diversity, legal restriction, performance management, training and professional development of the organization.
A great deal of attention and resources is required to attract, hire and retain an experienced, committed and well-motivated workforce. This is perhaps one of the most basic HR functions. There are several elements to this task such as developing a job description, advertising the job postings, screening applicants, conducting interviews, making offers and negotiating salaries and benefits. Companies that value their people put a serious amount of investment in recruiting and staffing services. As the right set of talented employees can not only raise the companies profile but also help it achieve profitability and keep it running effectively and successfully.
2. Training and Development
The HR department is responsible for providing on-the-job as well as refresher training for all employees (newly hired and existing) alike. This is the second most important function and lack of training opportunities only increases frustration levels among employees. So, training systems must be streamlined across all locations in order to make communication and sharing of resources a convenient task. Measurement and monitoring is another vital aspect of training in order to foster adoption of their new skills.
3. Professional Development
Effective HR departments allow and encourage the employees with opportunities for growth, leadership training and education, which in turn contribute to the success of the company. Sponsoring for career advancement seminars, training, corporate social responsibilities and trade shows will make employees feel important and cared for by the team and organization.
4. Benefits and Compensation
A company is more likely to be successful, if it adapts new ways of providing benefits to employees. Some non-traditional benefits that can attract and retain new skilled employees are:
- Flexible working hours or workdays,
- Extended vacation time,
- Paternity leave or childcare
- Medical/dental insurance,
- Corporate gym membership discounts
- Continuing education/skills development
- Award & recognition programs
5. Ensuring Legal Compliance
Compliance with labor, tax and employment laws is a vital part of safeguarding the organization’s continued existence. HR has to be aware of all the mandate laws and policies regarding employment practices, working conditions, tax allowances, required working hours, overtime, break times, minimum wage, and discrimination policies as noncompliance can affect productivity and ultimately, profitability of the company.