Human resource management (HRM or HR) is the strategic approach to the effective management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service of an employer’s strategic objectives.
The overall purpose of human resources (HR) is to ensure that the organization is able to achieve success through people. HR professionals manage the human capital of an organization and focus on implementing policies and processes. They can specialize in finding, recruiting, training, and developing employees, as well as maintaining employee relations or benefits.
7 Functions of HR :
Identifying Seven Major Functions of Human Resources
- Strategic Management
- Workforce Planning and Employment (recruitment and selection)
- Human Resource Development (training & development)
- Total Rewards (compensation & benefits)
- Policy Formulation
- Employee and Labor Relations
- Risk Management