performed in organisations that facilitates the most effective use of people (employees ) to achieve organisational and individual goals. Managerial functions Planning- formulating the future course of action . Identifying human resource requirements and forecasting personnel needs ,forseeing the changes in wages, in labour market , in union demands and in other benefits and in personnel policies and programmes. Involves establishing internal structure of roles for people in an organisation. It involves the structure of relationship among jobs personnel and physical factors. It is the process of directing all the available resources towards the common organisational goals . It ensures coordination (through command and motivation). Direction deals not only with the dissemination of orders within an organisation units and departments ,but also with the acceptance and execution of these orders by the employees. . The measurement and reflection of activities to ensure that events conform to plans. It is concerned with actions and remedial actions. Auditing training programs, analysing labour turnover records, directing morale surveys, conducting seperation interviews, interviewing new employees at stipulated intervals. Employment- includes procuring and employing individuals with suitable knowledge ,skills , experience and aptitude necessary to perform various jobs . Job analysis HRP Recruitment selection Placement- offer of employment .It is decided based on the needs of the organisation . Identifying a mentor. Induction-
HUMAN RESOURCE DEVELOPMENT
Performance appraisal Training Management Development- gearing up to meet HR demands of an organisation .Management development looks at enabling the overall personality and his capability of continuous improvement. Identifying one’s career goals and formulating plans of reaching them through various means like education, work experience etc. Career development looks at the same from the individuals view point. Compensation – it has to be adequate , equitable and fair Systematic determination of the value of each job in relation to other jobs in the organisation ,in the industry and in the market.
Wage and salary Administration- the process
of formulating and operating a suitable wage and salary program Incentives- rewards an employee earns in addition to regular wages Bonus – is primarily a share in the surplus or bounty and directly related to the organisations performance . Fringe benefits- monetary and nonmonetary benefits. These benefits provide a sense of security to the employee and keep them committed to the organisation. Strategic Human Resource Management The linking of HRM with strategic goals and objectives in order to improve business performance and develop organizational cultures that foster innovation and flexibility. Formulating and executing HR systems—HR policies and activities—that produce the employee competencies and behaviors the company needs to achieve its strategic aims.
recruitment efforts during the lean period – oursourcing HDFC’s strategy –superior customer service at attractive rates ( searching the right property ,finishing legal formalities ,offering expert advice while negotiating the deal ,competitive lending rates. Workforce highly committed , competent and customer oriented workforce