Managing Human Resources

Definition: Human resources management (HRM)

• The process of managing finances and assets in an organization.

• The strategic approach to managing an organization's employees.

• The use of technology to automate manufacturing processes.

• The marketing and selling of products to customers.

WHAT ARE THE HUMAN RESOURCES PROCESS ?

• Designing products , marketing services, managing inventory, and handling customer complaints.

• Devoloping software, automating tasks, analyzing data, and securing systems.

• Setting prices, creating advertisements, distributing goods, and tracking sales.

• Planning, recruiting, training, managing, performance, and retaining employees.

WHY EMPLOYMENT PLANNING IS IMPORTANT ?

• It reduces the need for employee training and development programs.

• It focuses on improving customer satisfaction through better service delivery.

• It ensures an organization has the right number and type of employees to achieve its goals.

• It eliminates the need for employee performance evaluations.

WHAT ARE THE DIFFERENCE BETWEEN INTERNAL SOURCES

AND EXTERNAL SOURCES ?

• Internal sources involve promoting or transferring existing employees, while external sources involve hiring candidates from outside the organization.

• Internal sources require more advertising and outreach efforts than external sources.

• External sources focus on employee performance evaluations, whereas internal sources do not.

• External sources are less costly and faster compared to internal sources.

WHY DO NEW EMPLOYEES NEED TO

GO THROUGH ALL THE HUMAN RESOURCES PROCESS ?

• To immediately start working without requiring any training or orientation.

• To help the organization reduce its overall recruitment costs.

• To avoid having to sign any employement-related documents.

• To ensure they are properly integrated into the organization and understand its policies and culture.

WHAT FACTORS SHOULD BE CONSIDERED

WHEN DESIGNING A COMPENSATION PLAN ?

• Product pricing, customer demographics, marketing strategies, and sales targets.

• Job roles, market competitiveness, employee performance, and organizational budget.

• Employee hobbies, team-building activities, workplace aesthetics, and social media presence.

• Vacation schedules, office furniture, company branding, and technology upgrades.