Human resource management (HRM) also referred to as human resources, is the management of personnel and systems to help achieve the objectives of an organization. It involves activities like recruitment, interviewing, salary management training, record keeping, and workplace security. The field also covers various legal functions, including compliance with labor and employment laws. HR managers are responsible for implementing and evaluating policies that ensure ethical treatment of employees.
HR professionals utilize data to aid in making decisions about benefits and compensation like bonus or salary increases, as well as to track employee performance. HR managers must be aware of the latest trends and legal requirements in relation to these issues that can change rapidly. They often collaborate with other departments to develop strategic plans that address the bigger goals of the company.
Companies that invest in a high-performing workforce enjoy higher productivity and sustainability, as well as profit margins. HR departments have the responsibility to encourage and support employees to achieve their full potential. They may employ a process called SWOT analysis to analyze a company’s strengths potential, weaknesses, opportunities and threats, and then brainstorm specific ways to maximize the former and avoid or minimize the latter.
Implementing a successful strategy isn’t easy and can take a long time. However, short-term pressures such as budgets and annual plans may make HR managers focus on immediate concerns instead of long-term goals. Nonetheless HR professionals who are successful understand the importance of perseverance and patience.