Human resources are a term with which many organizations describe the combination of traditionally administrative personnel functions with performance, Employee Relations and resource planning. The field draws upon concepts developed in Industrial/Organizational Psychology. Human resources have at least two related interpretations depending on context. The original usage derives from political economy and economics, where it was traditionally called labor, one of four factors of production. The more common usage within corporations and businesses refers to the individuals within the firm, and to the portion of the firm's organization that deals with hiring, training, and other personnel issues. This article addresses both definitions. The objective of Human Resources is to maximize the return on investment from the organization's human capital and minimize financial risk. It is the responsibility of human resource managers to conduct these activities in an effective, legal, fair, and consistent manner.
Human resource management (HRM) is the strategic and coherent approach to the management of an organization's most valued assets - the people working there who individually and collectively contribute to the achievement of the objectives of the business. The terms "human resource management" and "human resources" (HR) have largely replaced the term "personnel management" as a description of the processes involved in managing people in organizations. The goal of human resource management is to help an organization to meet strategic goals by attracting, and maintaining employees and also to manage them effectively. The key word here perhaps is "fit", i.e. a HRM approach seeks to ensure a fit between the management of an organization's employees, and the overall strategic direction of the company (Miller, 1989). The basic premise of the academic theory of HRM is that humans are not machines; therefore we need to have an interdisciplinary examination of people in the workplace. One widely used scheme to describe the role of HRM, developed by Dave Ulrich, defines 4 fields for the HRM function:
• Strategic business partner
• Change agent
• Employee champion
Human resource management serves these key functions:
• Training and Development
• Performance Evaluation and Management
• Industrial and Employee Relations
• Record keeping of all personal data.
• Compensation, pensions, bonuses etc in liaison with Payroll
• Confidential advice to internal 'customers' in relation to problems at work
• Career development
The sort of careers available in HRM is varied. There are generalist HRM jobs such as human resource assistant. There are careers involved with employment, recruitment and placement and these are usually conducted by interviewers, EOE (Equal Opportunity Employment) specialists or college recruiters. Training and development specialist is often conducted by trainers and orientation specialists. Compensation and benefits tasks are handled by compensation analysts, salary administrators, and benefits administrators. Professional organizations in HRM include the Society for Human Resource Management, the Australian Human Resources Institute (AHRI), the Chartered Institute of Personnel and Development (CIPD), the International Public Management Association for HR (IPMA-HR), Management Association of Nepal MAN and the International Personnel Management Association of Canada (IPMA-Canada).
Job prospects - College graduates who have earned certification should have the best job opportunities. Graduates with a bachelor's degree in human resources, human resources administration, or industrial and labor relations should be in demand; those with a technical or business background have a wide range of opportunity opportunities. Demand for human resources, training, and labor relations managers and specialists are governed by the staffing needs of the firms for which they work. A rapidly expanding business is likely to hire additional human resources workers-either as permanent employees or consultants. Also, as human resources management becomes increasingly important to the success of an organization, some small and medium-size businesses that do not have a human resources department may assign employees various human resources duties together with other unrelated responsibilities. In addition to human resources management and specialist jobs created over the 2006-2016 projection period, many job openings will arise from the need to replace workers who transfer to other occupations, retire, or leave the labor force for other reasons.
Professor of Business Administration at the University of Michigan Ulrich studies how organizations build capabilities of speed, learning, collaboration, accountability, talent, and leadership through leveraging human resources. Throughout his time he's helped generate multiple award winning databases that assess alignment between strategies, human resource practices and HR competencies. For the past 20 years Dave Ulrich has championed the HR profession, his commitment resulting in action to educate and evaluate hundreds of companies to improve their HR effectiveness. He is regarded and recognized as a guru in Human Resource Management and is leading the way in human resource management education and consulting. Professor Ulrich has consulted and delivered research for over half of Fortune 200 listed companies, including AC Nielsen, Boeing, Dell, Merrill Lynch, Nissan and Philip Morris. He sits on the board of directors for Herman Miller and is a Fellow in the National Academy of Human Resources; and co-founder of the Michigan Human Resource Partnership.
Dr. John Sullivan is well known as a provocateur, a characteristic which has both guided and distinguished our work throughout the years. Through speaking engagements, publications, corporate workshops and advisory service projects, DJS has challenged the antiquated role of HR and championed a new breed of business performance minded human resource professionals. Dr. John Sullivan is head of the Human Management Program in the College of Business at San Francisco State University. He is a well-known international speaker, author and advisor to Fortune 500 and Silicon Valley firms. He specializes in making HR "THE" competitive advantage. He is also head of the HR Strategic Forecasting Project, whose goal is to forecast and anticipate HR issues and opportunities.
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