HRM Definitions and Functions Quiz

Definitions of HRM

• The management of people in organizations from a macro perspective, managing people in the form of a collective relationship between management and employees.

Human Resource Management Functions & Objectives

• Job description includes job title, location, reporting to, job summary, nature and objectives of a job, tasks, duties, working conditions, machines, tools, and hazards involved.
• Job Analysis and Job Specification: a written statement of educational qualifications, qualities, experience, physical, emotional, technical, and communication skills required to perform a job.

Recruitment and Selection

• Recruitment: searching for potential applicants and encouraging them to apply for a vacancy.
• Selection: hiring employees among shortlisted candidates and providing them a job in the organization.

Training and Development

• Training: an endeavor to improve or develop additional competency or skills in an employee on the job to increase performance or productivity.
• Employee development: opportunities created to help employees grow, more long-term or futuristic in nature.

Performance Management

• Ongoing process of identifying, measuring, and developing the performance of employees in the organization.

Compensation and Benefits

• Salary, monetary, and non-monetary privileges provided to employees at the workplace by the organization.

Employee Relations

• Efforts to create and maintain a positive relationship with employees.

Personnel Policies

• A policy is a man-made rule of predetermined course of action to guide the performance of work towards the organization's objectives.

Compliance with Laws

• HR Compliance is the commitment of the business to follow the working standards set out by employment law.

External Factors Impacting HRM

• Political/ Legal factors: influencing every process of the HR department, including hiring, training, compensation, termination.
• Economic Factors: Economic downturns or upswings affecting recruitment, compensation, benefits, and workforce planning.
• Sociocultural factors: including work ethic, attitude towards work, and employee motivations.
• Technological Factors: advancements affecting remote work and virtual collaboration.
• Environmental Factors: corporate social responsibility, sustainability goals, and employee engagement in environmental initiatives.

Management Functions

• Planning: deciding in advance what to do, when to do, and how to do, bridging the gap from where we are and where we want to be.
• Organizing: defining an organizational structure that aligns with the workplace and assigning tasks that map to the team's skills and abilities.
• Staffing: recruitment and selection of manpower.
• Directing: motivation, stimulating, inspiring, and inducing employees to perform to their best capacity, leadership, and communication.
• Controlling: measuring progress.

6 M's of Management

• Manpower: human resources or workforce.
• Machinery: equipment, tools, and machinery.
• Materials: raw materials, components, and resources.
• Methods: processes and procedures.
• Money: financial aspect of production, including budgeting, cost management, and resource allocation.
• Market: a place where the organization disseminates its products.