Functions Of HRM ✓ Solved
Functions of HRM [WLO: 3] [CLOs: 1, 2, 3, 4, 5]
The primary function of HRM is to increase the effectiveness and contribution of employees in attaining organizational goals and objectives. Consider all the areas of HRM that have been discussed in this course:
- Performance management
- Human resources planning, recruitment, and selection
- Human resources development
- Compensation and benefits
- Employment and labor laws and regulations
In your final paper, provide a high-level overview of each HRM area listed above. Discuss HR functions within a performance management system that contribute to effective training and development. Explain how an effective performance management system along with compensation and benefits can attract, develop, and retain talented employees. Analyze employment and labor laws and regulations that impact these areas of HRM listed above and the relationships between employees and employers. Explain how the functions of HRM work together in order to optimize organizational and employee behavior.
The Functions of HRM paper must be seven to eight double-spaced pages in length (not including title and references pages) and formatted according to APA style. Must include a separate title page with the following:
- Title of paper
- Student’s name
- Course name and number
- Instructor’s name
- Date submitted
Must utilize academic voice. Must include an introduction and conclusion paragraph. Must use at least five scholarly, peer-reviewed, or credible sources in addition to the course text. Must document any information used from sources in APA style. Must include a separate references page that is formatted according to APA style.
Paper For Above Instructions
Human Resource Management (HRM) plays a critical role in the organization by influencing the effectiveness and contributions of employees towards achieving common goals. The primary objectives of HRM are aligned with the overall vision of an organization to foster a productive and positive working environment. This paper will provide a high-level overview of the various areas of HRM, including performance management, recruitment and selection, human resource development, compensation and benefits, as well as employment and labor laws. Furthermore, it will discuss how these functions work together holistically to optimize both employee performance and organizational success.
Overview of HRM Areas
The five key areas of HRM include:
1. Performance Management
Performance management is an ongoing process that involves setting objectives, assessing progress, and providing ongoing coaching and feedback to ensure employees meet their goals. It encompasses various practices like performance appraisals, regular feedback sessions, and personal development plans. The goal is to enhance employee effectiveness by aligning their objectives with organizational goals (Aguinis, 2019).
2. Human Resources Planning, Recruitment, and Selection
This area focuses on identifying future staffing needs, recruiting talent, and selecting the right candidates to fill organizational roles. Effective planning ensures that the organization has the necessary talent to meet its strategic objectives and involves analyzing current staff capabilities and future demands (Cascio & Aguinis, 2019).
3. Human Resources Development
HR development centers on enhancing the skills and capabilities of employees through training and development programs. This process is crucial for capacity building, upskilling, and adapting to industry changes. Organizations that invest in employee development benefit from improved engagement and retention rates (Noe, 2020).
4. Compensation and Benefits
This area involves designing a compensation structure that is equitable and competitive in the labor market. A good compensation package not only includes salary but also encompasses bonuses, benefits, and other incentives that attract and retain talent (Gerhart & Rynes, 2003).
5. Employment and Labor Laws and Regulations
HR professionals must ensure compliance with various employment laws and regulations that protect employees' rights. This involves staying updated on relevant legislation and implementing policies that safeguard against discrimination, ensure fair pay, and maintain workplace safety (Bennett-Alexander & Hartman, 2019).
Performance Management and Development
Effective performance management systems are essential for fostering employee growth and productivity. These systems ensure that employees understand their roles and the expectations set forth regarding their performance. Training and development activities are integral to performance management, as they equip employees with the skills needed to meet performance standards. Such systems provide a framework that supports continuous learning and feedback loops, which are critical for identifying skill gaps and areas of improvement. Through established performance indicators, HR can tailor development initiatives that enhance employee capabilities and prepare them for future roles (Torrington et al., 2017).
Attracting, Developing, and Retaining Talent
An effective performance management system also contributes significantly to attracting, developing, and retaining talent within an organization. When employees feel valued and see that their contributions are recognized through structured feedback and performance reviews, they are more likely to remain loyal to the organization. Furthermore, coupling a robust performance strategy with competitive compensation and benefits can create a comprehensive value proposition for potential employees. An attractive compensation package along with opportunities for professional growth serves to differentiate organizations in a competitive talent market (Aguinis & Kraiger, 2009).
Employment and Labor Laws
Understanding the landscape of employment and labor laws is pivotal for HRM. Laws govern various aspects of employment, including hiring, workplace safety, employee rights, and termination procedures. These regulations must be adhered to in order to mitigate risks associated with litigation and non-compliance. Moreover, having a sound knowledge of these laws allows HR professionals to foster positive relationships between employees and management, ensuring fair treatment and understanding within the workplace (Bennett-Alexander & Hartman, 2019). Ensuring compliance boosts employee morale and confidence in the organization’s commitment to their welfare.
Integration of HRM Functions
The various functions of HRM must work cohesively to optimize organizational and employee behavior. Each area influences one another; for example, effective recruitment impacts performance management because selecting the right candidates reduces turnover. Training programs enhance employee performance while complying with labor laws protects the organization and reinforces employee trust. The integrative nature of these functions means that a failure in one can have repercussions on the others, highlighting the need for a holistic approach to HRM (Cascio, 2018).
Conclusion
In conclusion, Human Resource Management is essential for fostering an environment where employees can thrive and contribute meaningfully to organizational objectives. By focusing on performance management, recruitment, employee development, compensation practices, and compliance with employment laws, HRM lays the groundwork for optimized workplace behavior and satisfaction. The interconnectivity of these HR functions underscores the necessity for organizations to embrace an integrated HRM strategy that is both employee-centered and aligned with business goals.
References
- Aguinis, H. (2019). Performance Management. Chicago: The University of Chicago Press.
- Aguinis, H., & Kraiger, K. (2009). Benefits of Training and Development for Individuals and Teams, Organizations, and Society. Annual Review of Psychology, 60, 451-475.
- Bennett-Alexander, D. D., & Hartman, L. P. (2019). Employment Law for Business. New York: McGraw-Hill Education.
- Cascio, W. F. (2018). Managing Human Resources: Productivity, Quality of Work Life, Profits. New York: McGraw Hill.
- Cascio, W. F., & Aguinis, H. (2019). Applied Psychology in Human Resource Management. New York: Pearson.
- Gerhart, B., & Rynes, S. L. (2003). Compensation Strategy: Altering the Role of the Compensation Function. In Compensation (pp. 8-43). San Francisco: Jossey-Bass.
- Noe, R. A. (2020). Employee Training and Development. New York: McGraw-Hill Education.
- Torrington, D., Hall, L., & Taylor, S. (2017). Human Resource Management. London: Pearson Education.
- Snape, E., Redman, T., & Bamber, G. J. (2016). Human Resource Management: A Critical Approach. London: Palgrave Macmillan.
- Bratton, J., & Gold, J. (2017). Human Resource Management: Theory and Practice. New York: Palgrave Macmillan.