CONCEPT OF HUMAN RESOURCES

Human resources in the business sense are people who

do the actual work in the organization. They were once
viewed as costs and therefore, people were treated just the
way they treated other costs-by cutting. When companies
want to improve their profits or cut losses, they reduced
their manpower.
 But in the eary '90s, a new concept in treating human
resources has evolved. Organizations are beginning to go
beyond the usual mantra “People are our greatest assets”.
In a higher form, people are no longer treated as costs but
assets.
People are treated as investors. They bring into the
company their talent, knowledge, skills, competence,
values, time and effort. Having invested in this treasure
trove of qualities and attributes vital to organization's
success, people deand a fair return of their investments.
What is Management?
 It is the art of getting Work done through other People.
 Management in business and organizations is the function
that coordinates the efforts of people to accomplish goals and
objectives using available resources efficiently and effectively

What is Human Resource (HR)?

 Human resources is the set of individuals who make up the
workforce of an organization, business sector, or
economy.Other terms sometimes used include "manpower",
"talent", "labour", or simply "people.
Human Resource Management (HRM) - Definition
 It is defined as the art of procuring, developing and
maintaining competent workforce to achieve the
goals of an organization in an effective and efficient
manner.
 “HRM is the function performed in organizations
that facilitates the most effective use of people to
achieve organizational and individual goals.”
• HRM is planning, organizing directing and controlling of the
procurement , development, compensation , integration,
maintenance, and separation of human resources to the end
that individual, organizational and social objectives are
accomplished.

Core Elements of HRM

Organizations ------People ------ Management.
The HRM process consists of planning, attracting,
developing, and retaining the human resources
(employees) of an organization
Functions of Human Resource Management
Objectives of HRM
 To help the organization reach its goals
 To employ the skills and abilities of the work force efficiently.
 To provide the organization with well trained and well
motivated employees
 To increase to the fullest the employee’s job satisfaction
and self actualization.
 To develop and maintain quality of work life
 To communicate the HR policies to all employees.
 To be ethically and socially responsible to the needs of
society
It includes the personnel aspects of the
management job, like
 Conducting the job analysis
 Planning labour needs and recruiting job candidates
 Selecting job candidates
 Orienting and training new employees
 Managing wages and salaries
 Providing incentives and benefits
 Appraising performance
 Conducting interviews, counseling, disciplining
 Training and developing managers
 Building employee commitment