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Human resource management (HRM) is the management of people and systems that help support the company’s objectives. It includes activities like recruiting, interviewing, salary management, training, record keeping, and workplace safety. The field also covers many legal responsibilities, including compliance with employment and labor laws. HR managers are accountable for implement and monitor policies that guarantee ethical treatment of employees.
HR professionals utilize data to inform their decisions about benefits and compensation like salary increases or bonus payments, as well as to track employee performance. HR managers must be aware of trends and legal obligations related to these matters which can change quickly. They often work with other departments to develop strategies that meet the company’s larger goals.
Companies that invest in a high-performing workforce enjoy higher productivity and sustainability, as well as profits. HR teams are in charge of assisting and encouraging employees to reach their full potential. They can make use of a SWOT analysis to assess a company’s weaknesses, strengths as well as threats and opportunities. Then, they come up with specific strategies to boost the former, and decrease or eliminate the latter.
Often, an effective strategy will take a long time to implement. Unfortunately, short-range pressures like budgets and annual plans can push HR managers to focus on immediate concerns rather than long-term goals. Successful HR managers know the importance of patience, perseverance and persistence.