Umesh Kurmi is a semi-qualified Chartered Accountant from the Institute of Chartered Accountants of Nepal. He has seven years of experience.
1. HR Full Form & Its Meaning
Human Resource is the full form of HR. Human resources (HR) is the department within a corporation that is in charge of locating, screening, hiring, and training job candidates, as well as administering employee benefit programs. HR plays a crucial role in aiding firms in dealing with a fast-changing business climate and a rising demand for quality workers in the twenty-first century.
The phrase "human resource" was invented by American institutional economist John R. Commons in his book "The Distribution of Wealth," published in 1893. The HR departments, then again, were not made until the nineteenth century and were entrusted with settling miscommunications among workers and their managers.
2. Why is HR needed?
An HR department, no matter what the size of the organization, is a fundamental part of any organization. An HR division's responsibility is to increment worker efficiency while additionally safeguarding the organization from any issues created in the work environment. There are many benefits of HR to the organizations and these are some of them:
- Successfully overseeing and using individuals
- Performance evaluation and compensation are linked to competencies.
- Individual and organizational performance can be accelerated through developing competencies.
- Increasing the essential levels of innovation, creativity, and flexibility to boost competitiveness
- New work process design, succession planning, career development, and inter-organizational mobility strategies are being adopted.
- Improving personnel, training, and employee communication to manage technology deployment and integration.
3. Types of HR (On the basis of functions)
Selection and Recruitment
Professional recruiters who fill openings within a business are part of human resource management jobs. They adhere to internal hiring procedures and observe all state and federal laws preventing discrimination in the recruiting process. These HR experts may write job advertisements, evaluate resumes, conduct interviews, and offer recruiting recommendations to managers. Recruiter, staffing specialist, and recruiting manager are just a few examples.
Benefits and Compensation
Another form of human resources position is compensation and benefits professionals. They verify that workers are appropriately compensated. They also work to give their employees with health insurance, dental and vision coverage, life insurance, and short-term disability benefits. Professionals in this field may conduct salary surveys, analyze industry salary data, compile and disseminate employee compensation reports, and negotiate benefit packages with outside suppliers.
Safety and Health
Experts in the field of health and safety work to forestall workplace wounds and infections. They provide safety training, administer health and safety policies, and ensure that state and federal occupational safety standards are followed. Safety coordinator, safety manager, employee wellness program coordinator, and director of employee wellness are all positions in this human resources department.
The connection between an employer and its workforce is alluded to as labor relations. Labor relations professionals can negotiate contracts between management and employees. Employee relations workers are responsible for preventing and resolving issues relating to employee performance. To avoid low morale and productivity, they seek to preserve healthy employer-employee relationships. In this field of human resources, roles such as director of labor relations, employee relations specialist, and employee relations representative are all available.
Development and Training
Experts in training and development evaluate an organization's training requirements, give training to workers, and investigate the results of completing the process of training programs. These professionals may also lead new employee orientation sessions. Employees must complete training as required by the Occupational Safety and Health Administration and other regulatory agencies, which is ensured by training specialists. Training jobs include training specialist, training and development manager, instructional designer, e-learning specialist, and learning and development manager.
Management of Risk
Risk management is a business procedure for diminishing the risk that an organization faces. Risk management in human resources entails examining each area and determining the potential for harm. A risk management specialist, for example, would look into a company's hiring policies to see whether they are possibly discriminatory and could result in a lawsuit. Abuse, property loss, bodily injury, and damage to a company's reputation are among the risks discovered throughout this procedure. Risk management specialist and risk management manager are two jobs accessible in this field.
Directors and Managers
Human resources managers and directors are in charge of overseeing the work of other HR professionals. Managers may act as a link between employees and upper management, engage in business planning sessions, and make suggestions for new recruiting and compensation practices. An HR director is knowledgeable in each feature of human resource management. Directors put forth departmental objectives and work with workers to accomplish them. A human resources director may be called upon to settle contentious or sensitive problems, which necessitates exceptional conflict resolution and mediation skills.
4. Is HR a high paying job in India?
Human Resources (HR) is a vital company function and profession that has grown in importance and demand throughout time. In India, most of the most lucrative HR jobs are likewise the most fulfilling in terms of job satisfaction and professional growth.
HR managers in India earn an average of INR 7.03 lakh per year. HR managers with little or no experience can earn up to INR 2.92 lakh per year, while experienced professionals can earn up to INR 20 lakh per year. In India, it is unquestionably one of the most attractive HR salaries, making it one of the most popular job options.
Human Resource per month salaries in Nepal typically vary from 15,979.00 NPR (lowest salary) to 51,956.00 NPR (maximum income) (highest average, the actual maximum salary is higher).
The salary range for a Human Resources Manager in Pakistan is PKR 50,000 to PKR 290,000 per month.
5. HRM Full Form & Its Meaning
HRM is the entire process inside a company responsible for employing, managing, and terminating employees. HRM focuses on the job of individuals in the working environment, guaranteeing that accepted procedures are followed consistently.
6. Principal Responsibilities
A human resource management department will exist in any large or mid-sized company. When there is a need for more employees, HRM will find qualified candidates. If the company needs to downsize, the HRM will oversee the redundancy process for any employees who are no longer needed. Without the intervention of top management, the HRM also controls vacation time, illness issues, bereavement leave, and other day-to-day personnel issues.
The HRM will assume control over the case if there is a legal issue with an individual from staff. They will investigate all parts of the debate and conclude one of the parties. When employees violate their employment contracts, HRM will intervene and, if required, arrange a termination.
The HRM department guarantees that an organization's workers run as expected. This permits management to concentrate on the day-to-day operations of the company rather than being distracted by internal squabbles among personnel.
HRM might be the obligation of the line manager in a small organization. The work may divert their attention away from their regular duties, and a company may eventually need to hire an HRM officer or teach an existing employee to take on the function.
7. Why is HRM needed?
Coming up next are the main five benefits of human resource management:
Management of Performance
Tracking and monitoring employee performance are one of HRM's most important functions. Employees should feel compensated for their endeavors, as well as connected and lined up with the organization's objectives, as a component of the performance management approach.
Working environment clashes are unavoidable. Employees are destined to disagree with one another on work-related or non-work-related issues. And, on occasion, that disagreement might escalate into a conflict that is both internal and external. One of HRM's responsibilities is to manage internal issues as efficiently as feasible.
Workforce Churn Reduction
Employee turnover can adversely affect an organization's wellbeing. Businesses not only lose talent but also money that would have been spent on rehiring and training the employees who departed. To avoid high turnover, the HR department regularly monitors policies, contracts, and terms and conditions to reduce total churn. They ensure that the employee is not only qualified for the position but also has the best interests of the organization in mind.
Building and maintaining relationships within the organization is another critical job of the HRM department. A positive workplace prompts blissful workers, which prompts an efficient labor force. This department has the opportunity to develop long-term partnerships by enabling a healthy culture and, in many cases, leading change management inside the firm by embracing the newest HR practices or by adopting innovative HR Technology.
Recruitment and Training
To wrap things up, this is one of the most noticeable and significant elements of the HRM division, and it enhances the organization's value. This is likewise a tedious cycle that requires an elevated degree of genuineness and a thoroughly examined recruitment system. This role includes duties like identifying a gap, creating a requisition to fill that position, producing an appropriate job description, locating the right match, and training the talent to immediately start being productive.
8. What is the difference between HR and HRM?
Human Resource is shortened as HR, and Human Resource Management is shortened as HRM. The expression "human resource" or "HR" alludes to the group of people that deals with an entity's workers. The phrase "human resources" was coined in the 1960s as the importance of labor relations became more widely recognized, and concepts such as motivation, organizational behavior, and selection assessments began to emerge.
Human Resource Management, on the other hand, encompasses the entire process of hiring, training, and onboarding employees; creating guidelines for leave, remuneration, and benefits; fostering a positive organizational culture; ensuring employees' well-being; and, guaranteeing all state and central government legal compliances.
At long last, human resource management has a basic impact on any business. They can utilize individuals and, unfortunately, they should likewise fire individuals. Workers and businesses, as well as representatives and workers, should be interceded by them. They should keep all workers safe and guarantee that they are appropriately instructed in their assignments as well as wellbeing and security. Everyone goes to the Human Resources Manager with their difficulties, and this individual is expected to know the answers to everything. This must be the most pivotal function in the organization.
This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.
© 2022 Umesh Kurmi