Human resource management (HRM) also referred to as human resources, is the management of people and systems in order to support an organization’s goals. It encompasses activities such as recruiting and interviewing, salary management and training, as well as record keeping, and workplace safety. The field also covers many legal responsibilities, including compliance with employment and labor laws. HR managers are accountable for implementing and evaluating policies to ensure ethical treatment of employees.
HR professionals use data for making decisions about benefits and compensation, such as bonus and salary increases, and to track employee performance. HR managers must be aware of the latest trends and legal requirements related to these matters, which can change quickly. They often work with other departments on strategies that reflect the larger company goals.
Companies that invest in highly-performing employees enjoy increased productivity, sustainability, and profit margins. HR teams are accountable for helping employees reach their maximum potential by empowering and supporting them. They can utilize a SWOT analysis process to determine a company’s weaknesses, strengths opportunities, threats and weaknesses. Then, they come up with specific strategies to boost the former, while minimizing or avoid the latter.
Implementing a strategy that is effective can take a long time. Unfortunately, pressures on short-term plans like budgets and annual plans can make HR managers focus on immediate issues rather than long-term goals. HR professionals who are successful understand the importance of patience, perseverance and persistence.
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