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Human resource management (HRM) often referred to as human resources, is the management of people and systems in order to support the goals of an organization. It encompasses activities such as recruiting and interviewing, managing salary training, record keeping and workplace security. It also covers a variety of legal functions including the compliance with employment and labor laws. HR managers are accountable to establish and enforce policies that guarantee ethical treatment of employees.
HR professionals use data for making decisions about the compensation and benefits they offer, such as bonuses, salary increases as well as to monitor the performance of employees. HR managers must remain on top of latest trends and legal obligations regarding these issues. These can change quickly. They often collaborate with other departments to develop strategic plans that reflect the bigger objectives of the business.
Companies who invest in a top-performing workforce have higher productivity and sustainability as well as increased profit margins. HR teams are responsible for helping employees reach their maximum potential by empowering and supporting them. They can employ a SWOT analysis process to determine the strengths and weaknesses of a company’s and threats. Then, they brainstorm specific strategies to increase the former, while minimizing or eliminate the latter.
Implementing a well-designed strategy will take time. Unfortunately, pressures from short-term goals like budgets and annual plans could push HR managers to focus on immediate concerns instead of long-range goals. However HR professionals who have succeeded understand the importance of perseverance and patience.