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Questions and Answers
What is the role of a Human Resource Management professional like Lata?
What is the role of a Human Resource Management professional like Lata?
What is 'human capital' in the context of Human Resource Management?
What is 'human capital' in the context of Human Resource Management?
What is the primary concern of Human Resource Management?
What is the primary concern of Human Resource Management?
What is one of the tasks involved in ensuring a company is appropriately staffed?
What is one of the tasks involved in ensuring a company is appropriately staffed?
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How does Human Resource Management differ from personnel management?
How does Human Resource Management differ from personnel management?
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What is the main difference between a Human Resource Management approach and a personnel management approach?
What is the main difference between a Human Resource Management approach and a personnel management approach?
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What does a Human Resource Management professional like Lata do to keep employees up-to-date on skills and knowledge?
What does a Human Resource Management professional like Lata do to keep employees up-to-date on skills and knowledge?
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What does human resource management focus on?
What does human resource management focus on?
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What is the assumption of personnel management regarding people?
What is the assumption of personnel management regarding people?
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What is the purpose of personnel function in personnel management?
What is the purpose of personnel function in personnel management?
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What is the basis of job design in human resource management?
What is the basis of job design in human resource management?
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Who is involved in decision making in human resource management?
Who is involved in decision making in human resource management?
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What is the focus of personnel management?
What is the focus of personnel management?
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What is the scope of human resource management?
What is the scope of human resource management?
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What is the nature of personnel management?
What is the nature of personnel management?
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What are the three categories of human capital according to the classification?
What are the three categories of human capital according to the classification?
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What is the primary goal of HRM?
What is the primary goal of HRM?
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What is the main objective of human resource management according to the National Institute of Personnel Management (NIPM)?
What is the main objective of human resource management according to the National Institute of Personnel Management (NIPM)?
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What is the definition of human resource management according to Flippo?
What is the definition of human resource management according to Flippo?
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What is the primary concern of HRM according to Decenzo and Robbins?
What is the primary concern of HRM according to Decenzo and Robbins?
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What is the role of HRM in achieving organisational objectives?
What is the role of HRM in achieving organisational objectives?
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What is the definition of human resources?
What is the definition of human resources?
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What is the primary responsibility of a human resource manager?
What is the primary responsibility of a human resource manager?
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Study Notes
Human Capital Classification
- Human capital is classified into three categories: intellectual capital, social capital, and emotional capital.
- Intellectual capital consists of specialized knowledge, tacit knowledge, skills, cognitive complexity, and learning capacity.
- Social capital is made up of a network of relationships, sociability, and trustworthiness.
- Emotional capital consists of self-confidence, ambition, courage, risk-bearing ability, and resilience.
Defining HRM
- HRM is a process of making efficient and effective use of human resources to achieve set goals.
- HRM involves planning, organizing, directing, and controlling the procurement, development, compensation, integration, maintenance, and separation of human resources.
- HRM aims to bring together and develop into an effective organization of the men and women who make up an enterprise, considering the well-being of individuals and working groups.
Comparison of HRM and Personnel Management
- HRM focuses on the acquisition, development, motivation, and maintenance of human resources.
- Personnel management focuses on personnel administration, employee welfare, and labor relations.
- HRM assumes people as an important and valuable resource, whereas personnel management assumes people as an input for achieving desired output.
- HRM provides more training and development opportunities, whereas personnel management provides less training and development opportunities.
- HRM decisions are made collectively after considering employee participation, authority, decentralization, and competitive environment, whereas personnel management decisions are made by top management as per the rules and regulations of the organization.
- HRM focuses on effectiveness, culture, productivity, and employee participation, whereas personnel management focuses on increased production and satisfied employees.
- HRM is concerned with all levels of managers from top to bottom, whereas personnel management is concerned with personnel managers.
- HRM is a modern approach, whereas personnel management is a traditional approach.
Human Resource Management Function
- HRM ensures the fulfillment of management objectives and takes care of the needs of resources.
- HRM goes beyond the administrative tasks of personnel management and encompasses a broad vision of how management would like the resources to contribute to the success of the organization.
- HRM involves job analysis, planning, recruiting, and selection, as well as developing training and education programs to keep employees up-to-date on skills and knowledge.
- HRM develops compensation plans.
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Description
Classification of human capital into intellectual, social, and emotional capital. Learn about the components of each category.
