Human resource management (HRM) also referred to as human resources is the process of managing people and systems to achieve the organization’s goals. It includes activities like recruiting and interviewing, salary management training, record-keeping, and workplace safety. The field also covers various legal functions which include the compliance with labor and employment laws. HR managers are responsible to establish and enforce policies that ensure ethical conduct of employees.
HR professionals use data to inform their decisions regarding compensation and benefits, such as bonus or salary increments as well as to track employee performance. HR managers must remain on top of most recent trends and legal requirements in relation to these issues. These can change quickly. They often work with other departments to create strategies that are geared towards broader company goals.
Companies who invest in a top-performing workforce experience higher productivity, sustainability, and profit margins. HR teams are in charge of encouraging and assisting employees to reach their maximum potential. They can employ a technique called SWOT analysis to determine the strengths, weaknesses, opportunities, and threats, then come up with specific strategies to capitalize on the former and to avoid or reduce the latter.
Implementing a successful strategy can take a lot of time. HR managers are often driven by immediate pressures like budgets and annual plans to focus more on immediate concerns than long-term goals. HR professionals who are successful know the importance of perseverance, patience and perseverance.