Human resource management, according to V. P. Michael, "reflects a new philosophy, a new viewpoint, attitude, and strategy, which considers an organization's personnel as resources and assets, not liabilities or simply hands."
As a result, human resource or manpower is now regarded as the most important resource for an organization's development.
Features of Human Resource Management
The following are characteristics of human resource management:
1. Universal Force
Human resource management is universal in nature; it exists in all organizations and is applicable at all levels of management. HRM is, in fact, concerned with and closely related with the organization's strategic decision-making process, which involves all departments and activities.
Thus, even if a new SME owner does not have any formal HR procedures in place, knowledge of HRM would help him manage his staff successfully.
2. Decision-Oriented
HRM places a greater emphasis on decisions than on record-keeping, written procedures, or rules, which were traditionally the responsibility of traditional people management techniques.
These decisions could include those involving performance enhancement through additional training or a promotion decision based on an employee's satisfactory performance.
3. Emphasis on Individual Requirements and Aspirations
HRM focuses on identifying an individual employee's individual needs and aspirations based on an appraisal of their capabilities and future potential.
As a result, it makes an effort to assist these employees in realizing their full potential and encouraging them to offer their all to the business.
Thus, a promotion to a higher designation for a B School faculty member could be linked to contributions in research and development or management consulting, and such decisions would be made at the discretion of the institute's management, depending on the nature and framework used to evaluate faculty performance.
4. People-Focused HRM
HRM cares about people. Traditionally, HRM authors have dismissed concern for people who interact with employees, both individually and in groups and teams.
However, in today's highly competitive business environment, concern for people has a broader conceptual area. It is mostly concerned with and focuses around people's abilities rather than the individual.
As a result, the paradigm shift was from assigning individuals to specific jobs to utilizing knowledge and human potential for improved performance.
5. Development and Growth-Oriented
Development has long been thought of as an organization's initiative to improve work-related abilities and behaviours.
When businesses place a greater emphasis on sharing and developing knowledge, the term "development" takes on a new meaning in terms of realizing the possibilities of people, rather just knowledge workers.
People's holistic development can be turned instrumental, according to behavioural scientists, if the former is combined with reinforcement schemes that ensure the acquisition of desirable behaviour and capacities among people.
The reward and incentive structures of organizations are needed to be fine-tuned along with the development oriented initiatives taken by the organization.
6. Organizational Binding Force
HRM also has the task of treating employees as the organization's "internal customers."
In order to assist organizational success, HR professionals must adopt the position of experts (internal business consultants) in other functional areas of their organization, such as logistics, finance, supply chain management, total quality management, marketing, and corporate relations.
7. Strategic Implication
In today's highly competitive business climate, HRM should play a key part in the organization's strategic decision-making process.
In this regard, HR professionals must adopt the role of strategic business partners, assisting the organization in achieving its business objectives through aligning people with the organization's strategic goals.
8. Support Functions
An organization's HR function is customer-focused.
HR executives aid line managers in other departments not just in completing administrative or HR-related tasks more efficiently, but also in providing consulting as internal consultants and extending "subject-matter-expert (SME)" help and assistance as needed.
The service function includes HR functions such as talent tracking and reward management.
9. Multi-Disciplinary Approach
HRM is a multi-disciplinary practice that incorporates knowledge and inputs from a variety of disciplines and studies, including:
- Psychology
- Sociology
- Anthropology
- Political Science
- Economics
- Quantitative Techniques and Statistical Applications
- Econometrics
- Ergonomics (workplace design)
- Financial Concepts (HR accounting and audit)
HR specialists can serve as strategic partners as well as internal consultants because of the multidisciplinary nature of the HR function.
10. Ongoing and Forward-Looking Nature
HRM is a continuous process that begins at the strategic level and spreads throughout the organization's functional domains.
Today's HR procedures are largely forward-looking, and they constantly examine the business's future goals and expectations.
Conclusion
Human Resource Management, with its universal application, strategic focus, and people-centric approach, forms the foundation of organizational success. By nurturing talent, aligning HR with business goals, and fostering growth-oriented practices, HRM ensures that human assets remain the most valuable resource in achieving long-term sustainability and competitiveness.
