What Is HRM?
HRM is the organizational function that deals with issues related to people such as compensation, talent acquisition, talent assistance, talent development, performance management, organization development, safety, wellness, benefits, employee motivation, communication, administration, and training. So, the focus of HRM is to deal with the manpower and all the decisions related to it that can have an impact on the productivity.
Advantages of HRM
An organization cannot build a good team of working professionals without it. Let’s have a look, how HRM is contributing in the current scenario:-1. Helps Evaluate HR Policies : – HR policies help keep employees on the same page and streamline the day-to-day operation of the business. Without these policies, employees might get confused about the company’s culture and expectations, resulting in a chaotic work environment. 2. Helps in building culture and values in the organization : – A safe and clean work culture helps in bringing the best of an employee and creates a higher job satisfaction. 3. Helps in Recruitment & Training : -This is one of the major responsibilities of the HR team. The HR team comes up with plans and strategies for hiring the right kind of people. They design the criteria which is suited for a specific job description. When needed, they also provide training to the employees according to the requirements of the organization. 4. Performance Appraisals : – HRM encourages the people working in an organization, to work according to their potential and gives them suggestions that can help them to bring about improvement in it. 5. Developing Public Relations : – The responsibility of establishing good public relations lies with the HRM. They organize business meetings, seminars and various official gatherings on behalf of the company in order to build up relationships with other business sectors. Disadvantages of HRMThis makes your HR functions quick, but it doesn’t always make them better. In fact, your company can run into serious problems if you forget that employees are more than numbers and symbols on a screen.
1. Employee Privacy : – Your employees entrust you with personal information. Everything from Social Security numbers to private health information and marital status gets stored in your HR management system
2. Cost : – One of the disadvantages of these systems is their cost, for different users it will cost different. Installation, setup and consulting can cost more.
3. Difficulty of Analysis : -Your system can contain so much data that you may find it difficult to analyze. You may need a separate analysis system just to sort the data into meaningful chunks.