Aims of HRM AND HRM concepts

1.Organizational effectiveness (HRM makes a significant impact on firm performance)

2.Human capital management (HC is the prime asset – the aim is to develop the inherent capacities of people)

3.Knowledge management (support the development of firm-specific knowledge)

4.Reward management (enhance motivation, job engagement)

5.Employee relations (harmonious relationship between partners)

6.Meeting diverse needs (stakeholders, workforce)

Read More : HR Management PPT

7.Bridging the gap between rhetoric and reality (HRM is to bridge the gap – and to ensure that aspirations are translated to effective action

HRM concepts

  1. People Management

The policies and practice which govern how people are managed and developed in organizations

  1. Human Resources Management

The strategic and coherent approach to the management the most of organization’s most valued assets – the people working there who individually and collectively contribute to the achievements of its objectives

  1. Human Capital Management

An approach to obtaining, analyzing and reporting on data which informs the direction of value adding people management strategic investment and operational decisions at corporate level  and at the level of front line management

  1. Personnel Management

Personnel mmanagement  is concerned with obtaing, organizing and motivating human resources required by enterprise

HRM and Personnel Management differences

HRM:

  • places more emphasis on strategic fit and integration,
  • is based on a management and business oriented philosophy,
  • places more emphasis on mutuality,
  • is more holistic,
  • specialists are more like business partners than administrators,
  • treats people as assets and not only costs.

Hard and Soft HRM

Hard (instrumental) HRM approach:

  • employees are viewed as a passive factor of production, an expense
  • employees can be easily replaced and seen as disposable.
  • Strategic, quantitative aspects of managing HRM as an economic factor

Soft (humanistic) HRM approach:

  • stresses active employee participation
  • gains employee commitment, adaptability and contribution of their competences to achievement of organizational goals
  • employees are valued as assets
  • emphasizing communication, motivation and leadership