LESSON 1: Introduction to Human Resource Management (HRM) Flashcards
is the strategic approach to managing people in an organization to gain a competitive edge.
HUMAN RESOURCE MANAGEMENT (HRM)
- It involves recruiting, developing, and retaining employees to align their skills with company goals.
HUMAN RESOURCE MANAGEMENT (HRM)
IMPORTANCE OF HRM
- Aligning Goals
** Employee Retention - Organizational Culture
Key Functions of HRM
HR FACET
- Recruitment and Selection
- Training and Development
- Performance Management
- Compensation and Benefits
- Employee Relations
Overall management of employees in an organization.
.
HUMAN RESOURCE MANAGEMENT (HRM)
Focuses on employee growth through training and development programs
HUMAN RESOURCE DEVELOPMENT (HRD))
Encompasses all aspects of managing people.
*HRM
Primarily concerned with developing employees’ skills and competencies.
HRD
: Administrative tasks, including hiring and compliance.
HRM
Focuses on long-term growth and development of employees.
HRD
FOCUS OF HRM
Managing the workforce
FOCUS OF HRD
Developing the workforce
SCOPE OF HRM
Broad, encompassing the entire employee lifecycle
SCOPE OF HRD
Narrow, focusing on training and development
GOAL OF HRM
Operational efficiency, compliance
GOAL OF HRD
Skill enhancement, organizational success
ACTIVITIES IN HRM
Recruitment, compensation, performance management
ACTIVITIES IN HRD
Training, development, career planning
HRM’s vital role
HRM helps create a productive,
motivated, and efficient
workforce that drives
organizational success.
: Day-to-day operations affecting
employee relations.
HRM
: Future-oriented, focused on
continuous improvement.
HRD
: Aims to meet organizational
goals.
HRM
: Aims to enhance employees’
capabilities and career growth.
HRD
is the broader discipline that deals
with managing all aspects of an
organization’s workforce.
HRM