Showing posts with label MBA Projects. Show all posts
Showing posts with label MBA Projects. Show all posts

Saturday, January 30, 2016

FUNCTIONS OF HUMAN RESOURCES MANAGEMENT (HRM)

          Every organization has certain functions to perform. These functions of Human resources management can broadly be classified into two categories such as Managerial Functions and Operative Functions. 
  
     Managerial Functions of HRM:
                Managing people is the essence of being a Manager. Like other managers, a human resource manager performs the functions of planning, organizing, directing and controlling.
  •  Planning:
                A plan is a pre-determined course of action. Planning is a process of deciding the goals and formulating policies and programs to achieve the goals. Planning involves forecasting and research. It helps to face successfully the changes those are likely to take place in future without planning the events, which are left to chance? It is the Means to manage change. Planning today avoid crisis tomorrow. 
         In the area of human resource management, planning involves deciding personal goals, formulating personnel policies and programs preparing the human resources budget etc. 

·      Organizing:
              In order to implement the plans, a sound organization structure is required. Organizing is the process of allocation tasks among its people and integrating their activities towards the common objectives. The right organization structure is the foundation of effective management because without it the best performance in all other areas will be ineffective. Organization is the frame through which management directs controls and co-ordinates the efforts of the people.
·      Directing:              
          Directing is the process of motivating, activating, leading and supervising people. Directing includes all those activities by which a manager influences the action of subordinates. It is the heart of the management process because it is concerned with initiating action. It helps to secure the willing and effective co-operation of employees for attaining organizational goals. A manager can tap the maximum potential of employees through proper direction. It also helps in building sound individual and human relations in the organization.      
·      Controlling:               
          It implies checking, verifying and regulating to ensure that everything occurs in conformity with the plans adopted and instructions issued. Such monitoring plans helps to minimize the gap between desire results and actual performance involves auditing training programs, analysing labour turnover records, directing morale survey, conducting separation interviews and many other means. 
                                          
  Operative Functions of HRM:
              The operative or service functions of human resources management are the tasks which are entrusted to the personnel department? These functions are concerned with specific activities of procuring, developing, compensating and maintaining an efficient work force.

·      Procurement Function:  
               It is concerned with securing and employing the right kind and proper number of people required for accomplishing the organizational objectives. It consists of activities like Job Analysis, Human Resource Planning, Recruitment, Selection, Induction and placement.

·      Development Function: 
               Human Resource Development is the process of improving the knowledge, skills, aptitudes and values of employees so that they can perform the present and future jobs easily and more effectively. This function comprises activities like Performance and potential appraisal, training, executive development and career planning and development.

·      Compensation Function: 
                It refers to providing equitable and fair remuneration to employees for their contribution to the attainment of organizational objectives. It consists of activities like Job Evaluation, Wage and Salary Administration incentives, Bonus etc.

·      Integration & Maintenance Functions:  
                It is the process of reconciling the goals of the organization with those of its members. It involves motivating employees through financial and non-financial incentives, providing job satisfaction, handling employees grievances timely through formal grievance procedures, collective bargaining, workers participation in management, conflict resolution.
              Developing the sound human relations, employee counselling, improving the quality of work etc. Maintenance concerned with protecting and promoting the physical and mental health of employees.

IMPORTANCE OF HUMAN RESOURCE MANAGEMENT (HRM)


            The significance of Human Resource Management can be discussed at four levels namely corporate, professional, social and national.

  •           Significance of Corporate Enterprise:            
                        Human Resource Management can helps an enterprise in achieving its goals more efficiently and effectively in the following ways.
    •  Attracting and retaining the required talent through effective Human resource planning, recruitment, selection, placement, and orientation compensation and promotion policies.
    • Developing the necessary skills and right attitudes among the employees through Training, development, performance etc.
    • Securing willing co-operation of employees through motivation, participation, grievance handling etc.
    • Utilizing effectively available Human Resources.
    • Ensuring that the enterprise will have in future a team of competent and dedicated employees.                                                                                                                                            
    • Professional Significance:

                     Effective Management of Human Resources helps to improve the quality of work life. It permits team work among employees by providing a healthy, working environment. It contributes to professional growth in the following ways.
    • Providing maximum opportunities for personal development of each employee.
    • Maintaining healthy relationships between individuals, and different work groups Allocation work property.                                                                                                                                                                                                                                                                                        
    • Social Significance:

                    Sound Human Resource Management has a great significance for the society. It helps to enhance the dignity of labour in the following ways.
    • Providing suitable employment that provides social and psychological satisfaction to the people.
    • Maintaining a balance between the job available and the job seekers in terms of numbers, qualification, needs and aptitudes.
    •  Eliminating waste of human resources through conservation of physical and mental health.                                                                                                                                                                National Significance:
                 Human Resources Management play a vital role in the utilization of nation’s natural, physical and financial resources require an efficient and committed manpower. There are wide differences in development between countries with similar resources due to differences helps to speed up the process of economic growth that in turn leads to higher standards of living and full employment.

    Human resource management has become very significant in recent decades due to the following.
    • Increase in the size and complexity of organization e.g. a MNC employing million persons.
    •  Rapid technology developments like automation, computerization etc.
    •  Rise of professional and knowledgeable workers.
    •  Increasing proportion of women to the work force.
    • Growth of powerful nation-wide trade unions.
    • Widening scope of legislation designed to project the interests of the working class.
    • Revolution in information technology that might effect the work force.
    • Rapidly changing jobs and skills requiring long-term manpower planning. 

    Friday, January 29, 2016

    OBJECTIVES OF HUMAN RESOURCE MANAGEMENT

                  Every organization has some objectives for which it is created and every part of it should contribute directly to the attainment of desired objectives. Objectives determine the character of an organization and serve as the basis for voluntary Co-operation and co-ordination among the employees. Objectives also provide benchmarks or standard evaluating performance.
                   
                   Objectives of human resources management are derived from the basic Objectives of an organization. In order to achieve organizational objectives integration of employer’s interest is necessary.  

    Objectives of Human Resource Management or HRM or Personnel Management may be summarized as follows: 

    • Human Resource Management (HRM) helps the organization to attains its goals by providing well-trained and well- motivated employees.
    • Human Resource Management (HRM) helps the organisation to use the employees skills and knowledge  efficiently and effectively i.e. to utilize human resources effectively.
    • Human Resource Management (HRM) used to enhance job satisfaction and self-actualization of employees by encouraging and assisting every employee to realize his / her full potential.
    •   Human Resource Management (HRM) establish and maintain productive, self-respecting and internally satisfying working relationship among all the members of the organization.
    • Human Resource Management (HRM) used to bring maximum individual development of members of the organization by providing opportunities for training and advancement.
    • Human Resource Management (HRM) secures the integration of all the individuals and group with the organization by reconciling individual / group goals with those of an organization.
    • Human Resource Management (HRM) develops and maintains a “quality of work life” (QWL) which makes employ organize desirable personal and social situation. 
    • Human Resource Management maintains high morale and good human relations within the organization. 

    Wednesday, January 27, 2016

    CONCEPTS OF HUMAN RESOURCE MANAGEMENT(HRM)

               Human Resources Management (HRM) can be defined ad a set of policies, practices, and programs built to maximize both personal and organizational goals.

              According to National Institute of Personnel Management of India, “personnel management or HRM is that a part of management related to people at work and with their relationships inside the organization. It seeks to bring together men and women who constitute an enterprise, allowing each in making their own best contribution to its success both as an individual and as a member of a working group”.

              In the other words  “personal management or HRM can be defined as that field of management which includes about planning, organizing and controlling the functions of procuring, developing, maintaining and using a work force.

    The following are the main concepts of Human Resource Management
    • Objectives for which the organization is made are achieved economically and effectively 
    • Objectives of all levels of personnel are served to the optimum possible degree and 
    • Objectives of society are properly considered and served.

       

    FEATURES or CHARACTERISTICS or NATURE OF HUMAN RESOURCE MANAGEMENT (HRM)

    The following are the important features of Human Resource Management or Personnel Management or HRM.
    • Human resources of the organization consumed the goods of the biological inheritance and interactions with the environment.
    • Human resources are heterogeneous.
    • Human resources are dynamic and behave differently.
    • Human resources are the most significant aspect in an organization.
    • HRM involves management functions like planning,organising,directing and controlling.
    • Human Resource Management involves procurement,development,maintenance of human resource.
    • Human Resource Management helps to achieve individual,organisational and social objectives.
    • HRM is a mighty disciplinary subject, It includes the study of management psychology communication,economics and sociology.
    • HRM involves team spirit and team work.

                       Human resources Management(HRM) has the greatest potential to develop and grow if the right climate is provided to them. The word HRM is wider than the term personnel. Human resources including all the dynamic components of all the people at all levels in the organization whereas personnel mean the workers employed in an organization. 

    HUMAN RESOURCE MANAGEMENT (HRM)

     What is an organization?

                       Organizations comprise of people and function through efforts of an individual. Without people organizations cannot exits. The resource of men, money, materials and machinery are collected, co-ordinated and utilized through people. These resources by themselves cannot fulfil the objectives of an organization. They should be united into a team. It is through the combined efforts no organization can achieve its goals.
      
    Definitions of Human Resource Management (HRM)   

              "Human Resource Management or Personnel Management or HRM can be defined as planning, organizing, directing and controlling of the procurement, development, compensation, integration, maintenance and separation of human resources to the end that individual,organizational and social objectives are achieved."
                                                                                               - Edwin Flippo 

               "HRM is a process comprising four functions - acquisitions, development, Motivation and maintenance of Human Resources."
                                                                                               -Robins & Duecento

            “ Business houses are built or broken over time not by markets capital, patents or equipments but by men”. From the national view point Human resources management may be defined as “the knowledge, skills, creative abilities, talents and aptitudes obtained from the population”.                                                                                            
                                                                                                -L.F. Uric

                                    Human Resources Management (HRM) can be defined as managing (planning,organising,directing and controlling) the functions of employing,developing and compensating to human resources resulting in creation and development of human relations with a view to contribute proportionately to the organisational,individual and social goals.

                                   In the view point of an organization, human resources represent the individuals at work. According to Juices, human resources or human factors refers to “a whole consisting of interrelated, interdependent and interacting physiological, sociological and ethical components”. Thus human resources represent the quantitative and qualitative measurement of the work force required in an organization.