5 Functions of Human Resource Management

Summary

This video provides a comprehensive overview of the five key functions of Human Resource Management (HRM). It covers recruitment and hiring, onboarding and ongoing training, managing employee-employer relationships, fostering a rewarding company culture, and overseeing disciplinary actions. HRM plays a vital role in ensuring that employees are well-trained, supported, and motivated to reach their full potential, which in turn contributes to the overall success of the organization. The video emphasizes how strategic HRM practices can improve performance, morale, and workplace harmony, ultimately driving business growth.

Takeaways

• 😀 Human Resource Management (HRM) focuses on recruiting, hiring, training, and supporting employees to reach their full potential and help organizations grow.
• 😀 HRM plays a key role in aligning the right people with the right skills to the organization’s needs, contributing to both individual and company success.
• 😀 Recruitment and hiring are crucial for businesses to remain competitive by attracting and retaining top talent, aligning recruitment with long-term company goals.
• 😀 Onboarding new hires effectively and offering ongoing training is essential for employee success, loyalty, and reducing turnover.
• 😀 HRM fosters employee development through workshops, certifications, and internal/external training programs to increase productivity and performance.
• 😀 Managing employee and employer relationships is a core HR function, involving conflict resolution, negotiations, and training like mindfulness or anger management.
• 😀 A positive company culture is crucial for employee morale, and HR ensures employees align with the company’s mission, vision, and values.
• 😀 HR is responsible for providing competitive pay, benefits, and identifying potential cultural issues that could impact employee satisfaction and company harmony.
• 😀 Disciplinary actions are managed by HR through clear processes, including warnings, suspensions, and terminations, all while ensuring legal compliance with labor laws.
• 😀 Overall, HRM’s primary goal is to support employees in performing at their best, thereby helping the company achieve its objectives and growth.

Q & A

What is the main purpose of Human Resource Management (HRM)?

The main purpose of HRM is to recruit, hire, train, and support employees in improving their performance so that they can reach their full potential and help the organization grow.

Why is recruitment and hiring such a critical function in HRM?

Recruitment and hiring are critical because businesses need to attract and retain top talent to remain competitive in their industry. A strategic HR department aligns its hiring plans with the company’s long-term growth goals.

What key factors does HR consider when recruiting employees?

HR considers education, experience, skills, as well as personality traits and working styles to ensure long-term compatibility with the role and the organization.

What is the importance of onboarding and ongoing training in HRM?

Onboarding is important because it helps new employees integrate into the company by understanding its mission, vision, values, and internal policies. Ongoing training ensures that employees continuously develop their skills, leading to increased loyalty, reduced turnover, and better performance.

How does HR manage employee and employer relationships?

HR fosters healthy relationships by handling conflict resolution, negotiating positive outcomes, and providing resources like anger management or mindfulness training to ensure employees can manage themselves efficiently in the workplace.

What role does company culture play in HRM?

Company culture plays a significant role in HRM as it influences employee morale and productivity. HR is responsible for maintaining a positive culture through the company's mission, vision, values, and ensuring competitive pay and benefits.

What are the key components of creating a rewarding company culture in HRM?

Key components include fostering a sense of purpose through the company's mission and values, providing competitive pay, offering both tangible and intangible benefits, and addressing potential negative workplace cultural issues.

What is the importance of a structured disciplinary process in HRM?

A structured disciplinary process is crucial for ensuring that employees are aware of the company’s expectations and rules. It helps maintain fairness and compliance with labor laws when handling issues such as written warnings, suspensions, or terminations.

How does HR ensure compliance with labor laws during disciplinary actions?

HR ensures compliance by having a legal expert on the team who can guide the company in following labor laws correctly during disciplinary actions such as suspensions, demotions, or terminations.

What is the ultimate goal of HRM within an organization?

The ultimate goal of HRM is to support employees in performing at their full potential, which in turn helps the company achieve its goals and objectives.