Human Resource Management and What should Business Owners Know

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Human Resource Management and What should Business Owners Know


People with various viewpoints and visions will exist within a firm. Human Resource Management refers to formal processes for planning and managing personnel within a business (HRM). Recruiting, hiring, deploying, and managing an organization's employees are common definitions, as are designing, executing, and overseeing policies, governing workers, and the organization's relationship with its employees. Staffing, employee salary and benefits, and identifying and designing labor are among the topics covered.

 


Figure 1:Human Resources

 Employees, along with other business assets, are the focus of Human Resource Management. Human resource management aims to increase productivity by improving employee efficiency. The importance of HRM has recently been recognized as the avenue to confirm an organization's progress. As a result, small firms could benefit from this (Chai; Sutner;, 2017).


Organizations, Small businesses, and Human Resource Management Principles


Human capital management is prominent in organizations, corporations, and institutes. Employee recruitment, for example, should be merit-based, with no favoritism, and each employee treated equally and consistently. Prioritizing the fundamental concepts of human resource management is critical to success (Iedunote, 2022).

 

          
Figure 2:Principles of HRM 


Human Resource Management’s Position and Structure


Because of changes in governing policies, size, and type, the structure of human resource management varies from organization to organization. Traditional and current structure approaches will be examined, but the most important feature will be that it must be similar to the organizational aim.

As an example,



Figure 3:Methods of Structuring


As a result, human resource management duties will be adopted, which will be concerned with the events of both individuals and the businesses in which they operate (Personio, 2022).


Human Resource Management and Small Business


Because of the size or complexity of small firms, human resource management requirements differ from those of large organizations, and employment matters are handled by them, and small businesses will struggle to fulfill their goals due to a lack of human resources. Small firms will face even more challenges if they continue to make typical mistakes like employing the wrong individual, failing to align job descriptions, neglecting to document performance, and failing to follow employment rules. Employees at small businesses must work in a more productive setting (Regan, 2021).



Figure 4:Small  Business

Finally, a business leader who clearly communicates personal expectations and organizational goals is more likely to succeed than one who ignores any of these factors.

 

 

References

Chai; Sutner;, 2017. Techtarget. [Online]
Available at: https://www.techtarget.com/searchhrsoftware/definition/human-resource-management-HRM
[Accessed 21 March 2022].

Iedunote, 2022. Iedunote. [Online]
Available at: https://www.iedunote.com/principles-of-human-resource-management#:~:text=The%20fundamental%20principles%20of%20HR,Treat%20all%20employees%20with%20justice.
[Accessed 21 March 2022].

Personio, 2022. Personio GmbH. [Online]
Available at: https://www.personio.com/hr-lexicon/hr-department-structure/
[Accessed 21 March 2022].

Regan, 2021. Connecteam. [Online]
Available at: https://connecteam.com/guide-human-resources-for-small-businesses/
[Accessed 21 March 2022].

 

 

Comments

  1. Tharindu L Bandara23 March 2022 at 06:46

    Hi, An important article for those who are running a business or looking to start a new business. You have given a good start to learning more about HR. All the best!

    ReplyDelete
  2. Chamila Thilakaratne (LMU, ESOFT MBA Batch #24)23 March 2022 at 07:06

    Well explained good article about the HRM structure and procedures for a newly formed business.

    ReplyDelete
  3. Venushka Bandaranayake25 March 2022 at 22:11

    HRM is the most important point which the newly formed business should initially pay their attention. Good work..

    ReplyDelete
  4. premakumaraMBA3 April 2022 at 07:44

    "When it comes to small businesses, the needs of Human Resources management differ from large organizations" this is universal truth. small business owners are not touching this area but they don't know, they are missing good peoples & money drastically without functioning a good HRM system in their organizations.
    Many Thanks for your letter again.

    Dimunge Wasantha.

    ReplyDelete

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