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Human Asset Management


Concepts of Human Resources Management

Human Resource Management(HRM), is a process of bringing people and organization together so that the goals of each are met. It is that part of the management process which is concerned with the management of human resources in an organization. It tries to secure the best from people by winning the whole hearted cooperation... HRM may be defined as the art of procuring, developing and maintaining competent workforce to achieve the goals of an 5/28/12

Features of HRM

of the right quality and quantity of different types of human resource assets required by the organization to meet its current and future requirements. Determining and implementing business policies and practices that are best suited to acquire, develop, retain and use effectively the human resources in the organization. Recruitment of people.



support for recruitment of the required people in the organization. Providing support for decision making on increment, promotions, transfer and other similar people related decisions in the organization. Providing support for ongoing development and training of the people, in line with requirement of the organization and the current availability of skills and capabilities.


Objectives of Human Resources Management

human resources are employed cost-effectively Pay rates should be competitive but not excessive Achieve acceptable staff utilization Measure returns on investment in training Make effective use of workforce potential Ensure jobs have suitable, achievable workloads Avoid too many under-utilised or over5/28/12



the workforce to the business

needs Workforce planning to ensure business has the right number of staff in the right locations with the right skills Effective recruitment to match workforce needs Training programme s to cover skills gaps or respond to changes in technology, processes & market Consider outsourcing activities that can be done better and more cost-effectively by external suppliers Get the right number and mix of staff at each location where the business operates in multiple sites and countries.



good employer / employee

relations Avoid unnecessary and costly industrial disputes Timely and honest communication with employees and their representatives Sensitive handling or potential problems with employees (e.g. dismissal, redundancy, major changes in the business) Comply with all relevant employment legislation


Importance of HRM

Resource Management is necessary. HRM involves managing manpower in order to improve individual, group and organizational effectiveness. It is important to manage human resources as they help in the prosperity and progress through the committed and creative efforts and competencies of their human resources. HRM emphasizes mainly on the accomplishment of individual or personal objectives of the employees (eg : promotions), encouraging team work, 5/28/12 attaining higher profits, social development,


and maintaining good people is essential to the success of every organization, whether profit or non-profit, public or private. healthy environment can occur only when the working relationships between all the employees are established, leading to an overall development of every individual employee as well as the organization on a whole. HRM acts as a fuel for the smooth functioning of an organization and its overall 5/28/12


Types of Human Resources Policy

Recruitment and selection

Recruitment policy Employment category Sexual harassment policy Probation policy Equal employment opportunity policy
Training and development Compensation and benefits

Leave policy Bereavement leave policy


Loan policy

Working time policy Vacation policy Holiday policy Sick leave policy Overtime policy

. Health and safety Health and safety policy Smoking policy Visitor policy Corporate security policy Alcohol and drug policy Discipline policy Computer policy Email policy


Employee relations Communication policy Problem resolution policy Personal appearance policy Conflicts of interest policy