HUMAN CAPITAL
MUHAMMED SHAFI
HUMAN CAPITAL
1.0 INTRODUCTION
Human resource management is an important part in management as it is managing of the biggest assets of the organization. It is always the ability of the human resource in the organization that decides the success of the organization than other factors. Human resource is a function that deals with all activities related with employees, from recruiting, selecting to training, salary, communication and administration.
It not just include management of people rather also includes management of work and related activities. In earlier periods the companies HR policies were more administrative and less strategic but now HR has transformed to be more strategic and less administrative. Even the HR activities are more computerized and companies are outsourcing HR services as to reduce the HR staffing costs.
The approach of strategic human resource management helps the organization to achieve their organizational goal. Where, SHRM bridges the gap between employees and firm. It involves better management of employment relationship of all the employees in an organization to donate best towards the organizations objective. In HP HR people are able to develop strong working relationships with management in which HR have great role in the process of decision making. In this 21st centuary, we can see many of the organisations facing human resources issues and these issues have great impact on the overall operations of the organisation.
2.0 Purpose of human resource management policies Human resource policy forms a set of rules and regulations which defines the manner in which how an organization’s human resource activities are to be carried out and they helps organisation in