Hr Solution
Chapter One
HRM: Theoretical Framework
Human resource is an increasingly broadening term that refers to managing human capital, the people of an organization. The field has moved from a traditionally administrative function to a strategic one that recognizes the link between talented and engaged people and organizational success. The field draws upon concepts developed in industrial/organizational psychology and system theory. Human resource has at least two related interpretations depending on context. The original usage derives from political economy and economics, where it was traditionally called labor, one of four factors of production although this perspective is changing as a function of new and ongoing research into more strategic approaches at national levels. This first usage is used more in terms of human resources development, and can go beyond just organizations to the level of nations.[i] The more traditional usage within corporations and businesses refers to the individuals within a firm or agency, and to the portion of the organization that deals with hiring, firing, training, and other personnel issues, typically referred to as human resources management. Human resource management (HRM)[1] is a business practice to managing the workforce. It is one of several important functions in modern organizations. HRM helps to structure employee and candidate information by skills, profiles and career preferences. It is helping talent supply and demand by enabling communication, self-selection, and evaluation of human resources needs. Usually, human resource management use computer systems to support these functions including payroll, HR and skills database. A human resource management system also includes the activities of human resources planning, selection, recruitment, orientation, training, performance appraisal and compensation. Though human resources have been part of business and organizations since the first days of
HRM: Theoretical Framework
Human resource is an increasingly broadening term that refers to managing human capital, the people of an organization. The field has moved from a traditionally administrative function to a strategic one that recognizes the link between talented and engaged people and organizational success. The field draws upon concepts developed in industrial/organizational psychology and system theory. Human resource has at least two related interpretations depending on context. The original usage derives from political economy and economics, where it was traditionally called labor, one of four factors of production although this perspective is changing as a function of new and ongoing research into more strategic approaches at national levels. This first usage is used more in terms of human resources development, and can go beyond just organizations to the level of nations.[i] The more traditional usage within corporations and businesses refers to the individuals within a firm or agency, and to the portion of the organization that deals with hiring, firing, training, and other personnel issues, typically referred to as human resources management. Human resource management (HRM)[1] is a business practice to managing the workforce. It is one of several important functions in modern organizations. HRM helps to structure employee and candidate information by skills, profiles and career preferences. It is helping talent supply and demand by enabling communication, self-selection, and evaluation of human resources needs. Usually, human resource management use computer systems to support these functions including payroll, HR and skills database. A human resource management system also includes the activities of human resources planning, selection, recruitment, orientation, training, performance appraisal and compensation. Though human resources have been part of business and organizations since the first days of