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Human resource management (HRM), also known as human resources, is the process of managing people and systems to achieve an organization’s goals. It encompasses activities such as recruiting interviews, hiring, salary management and training, as well as record keeping and workplace security. The field also covers various legal duties such as compliance with employment and labor laws. HR managers are responsible for implementing and monitoring policies that ensure the ethical treatment of employees.
HR professionals rely on data when making decisions about pay and benefits, including bonus and salary increases and to monitor the performance of employees. HR managers must keep up-to-date with the latest developments and legal obligations in relation to these issues. They can be subject to rapid change. They often work with other departments to develop strategies that reflect the larger company goals.
Companies who invest in a highly-performing workforce experience higher productivity and sustainability, as well as profit margins. HR teams are responsible to help employees reach their maximum potential by encouraging and supporting them. They can utilize a SWOT analysis to assess a company’s weaknesses, strengths, opportunities and threats. They then brainstorm specific strategies to increase the former, and decrease or eliminate the latter.
Most of the time, a successful strategy will require considerable time to implement. However, short-term pressures such as budgets and annual plans can push HR managers to focus on immediate concerns instead of long-term goals. Nonetheless HR professionals who are successful understand the importance of perseverance and patience.