“Human Resource isn’t a thing we do. It’s the thing that runs our business.”
– Steve Wynn
Organisation are social system, which are composed of role, interaction and relationship among its employees who are occupying various positions in the organisation. Success of the organisation and achievements of its goals are the two important things which is necessary for an organisation and this depends on the nature and pattern of cooperation among individuals or it depends on our human resource. As we know human resource is an asset for the organisation and if they are productive and efficient enough we will be able to achieve our goals. Human Resource is not only unique and valuable but it is also an organisation’s most important resource. It seems logical that an organisation would spend a great deal of effort to acquire and make optimum utilisation of such resources. This effort is known as Human Resource Management. Human Resource Management may be defined as a process of recruiting, selecting, inducting the employee, providing orientation, providing training and development, appraising the performance, deciding compensation, motivating employees and maintaining proper relation with the employees. In simple terms, Human Resource Management may be defined as the art of procurement, development, motivation and maintenance of competent workforce in order to achieve organisational goals and targets. It is the process of bringing people and organisation together to achieve the goals of both the parties. Human Resource Management is pervasive in nature. It is action oriented, people oriented and development oriented. It is a challenging function as the nature of people is very dynamic and complex. Human Resource is very important at each and every level and they are:-
- Quality of Work Life – Quality of work life is the relationship between employees and total work environment. But the perception of employees is that they think that it is the relationship between working condition and management. Quality of work life can be obtained by maintaining work autonomy, work freedom, rewards, job recognition, etc.
- Increases Productivity and Profit – The main task of Human Resource Management is to ensure right people at right time on right position apart from this it also provides opportunities to facilitate and motivate your employees to grow and advance their career. The employee who is motivated works hard to achieve the goals of both the parties which directly influences productivity of the organisation. The main essence of productivity is minimising cost and maximising profit.
- Retain Employee and Motivate Them – Optimum utilisation of resources – this line is applicable in all factor of production. Utilising human resource to their fullest and maintaining them in the organisation for a long-term period is a major function of human resource management. Human Resource Management performs various task like career planning, performance appraisal, providing fringe benefits, compensation and rewards to the deserving employees. These factors motivates the employees and also helps in retaining them in the organisation and achieving organisational goals effectively.
- Develops Corporate Image – Organisation can sustain when it maintains an ideal image in the market. Everyone like to get associated with a company that is prominent for its moral and social responsibility towards its employees.
There are some challenges too in human resource management:-
- Globalisation – Many companies like to grow in global market and prosper there as domestic markets are shrinking. But the impact of globalisation on business are that well known products are losing their national identities.
- New Technology – Advanced technology has reduced the number of job as it requires skills. So in order to increase the number of jobs that requires skills, the employer should be re-trained.
- Skill Shortage – As the relevance of human resource is increasing recruiting and retaining competent employee is not an easy task. As every company wants the best human resource than the one his rivals have. So proper formulation and implementation of policies are required.
So lastly Human Resource Management is a complex and continuous process which each and every organisation has to do.
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