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Summary W5 functions of HRM.docx Functions of HRM 1 BUS303 Functions of HRM The University of Arizona Global Campus BUS303 Human Resources Management Human Resource Management (HRM) should be the backbone of a company and is a strategic approach t
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W5 functions of HRM.docx Functions of HRM 1 BUS303 Functions of HRM The University of Arizona Global Campus BUS303 Human Resources Management Human Resource Management (HRM) should be the backbone of a company and is a strategic approach to managing a companys employees. There are m...
w5 functions of hrmdocx functions of hrm 1 bus303 functions of hrm the university of arizona global campus bus303 human resources management human resource management hrm should be
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Functions of HRM 1
BUS303
Functions of HRM
The University of Arizona Global Campus
BUS303 Human Resources Management
Human Resource Management (HRM) should be the backbone of a company and is a
strategic approach to managing a company’s employees. There are many crucial roles HRM’s
play within an organizations, some of which are hiring employees, training and development,
and having an understanding on labor laws and how to implement them. “Human resource
management (HRM) is the managing of human skills and talents to make sure they are used
effectively and in alignment with an organization’s goals, neither the size nor type of a company
affects this definition, big and small, profit and nonprofit organizations all perform HR functions
that relate to the recruitment, selection, training, and management of their workforces” (Youssef,
2015). Running a successful business takes a cohesive team that has similar goals, HRM’s help
to align company policies to meet those goals.
Planning, recruitment and selection are some of the most crucial roles a human resources
manager will have. “HR planning is the process of managing an organization’s most valuable
asset—its people—so that there are no shortages or surpluses of employees in the organization”
(Youssef 2015). Understanding the market trends will help with market analysis and forecasting.
Managers need to understand how to identify the right candidates, but it takes the right job
posting to get quality applicants. Creating an appealing and eye catching job posting will attract
the right candidates. According to Youssef 2015, “Linking recruitment to the strategic HRM
, process is critical to the success of the organization. It ensures that the recruitment process is
aligned with organizational strategies” (sec.4.4). Understanding how to properly compensate the
right candidate is a crucial factor for decision making. In many cases the right candidate is
looking at multiple companies and weighing the options, so how do you win? Aggressive pay,
bonus or commissions will help draw attention to a great candidate with long term goals.
Benefits can be another way to attract top talent. There are more that health and dental, offering
candidate free higher education, car packages, retirement matching can all make the job offer
more appealing to the right people, and help retain top talent. One trick to retaining top talent is
ongoing competitive compensation. According to Youssef 2015, “The key to a successful pay
and benefits package it its power to motivate employees to consistently exhibit attitudes and
behaviors that are aligned with the organization’s goals, strategies, and culture.”
There are many tools that can be utilized for performance management. Reviews need to be
well thought out, well documented processes that can be measured among various employees.
“Performance management is made up of many activities that when managed holistically can
lead to effective people management. The particular challenge of providing a clear,
comprehensive definition of performance management is that it covers such a breadth of
activities” (Ashdown 2014). Many companies have annual reviews that will result in an overall
performance evaluation with key performance indicators (KPIs). KPIs tend to track sales
accomplishments, team participation, and overall effort. They can be a method to track an
employee that may not be able to have a monetary value attached. In many cases the annual
review can play a major role in annual pay increases.
Employment and labor laws are put into place to offer both the employee and the company
protection. “The U.S. Equal Employment Opportunity Commission (EEOC) enforces many
Federal laws prohibiting employment discrimination (several are enforced by other agencies, like
the Department of Justice). These laws protect employees and job applicants against employment
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