What is HRM?

HRM stands for Human Resource Management.

As the name suggests, HRM is responsible for resolving all issues related to the company employees and manages the Human Resources. It looks after all their requirements and ensures a healthy and convenient work structure for the employees. It includes solving employee grievances, processing payroll, maintaining attendance records, and analyzing employee performance.

Human Resource Management delivers comprehensive advantages to corporations as it looks after their three dimensional needs from documenting their data to utilising their precious time and improving the company’s work culture.

Why is HRM important?

Employees are the most valuable asset for any company. A well-operated work environment encourages an employee to operate at their best potential in the most promising way and uplift the overall image of the company in the market. This in turn promotes the success and well-being of an enterprise along with better management and utilization of resources.

What is HRM Software? 

HRMS stands for Human Resource Management System. An HRM software can be understood as an upgraded alternative to the manual supervision of HR records.

HRMS is an optimized system that has a collection of tools to process and document Human resource data by linking it to information technology with the help of the HR Software. From maintaining data to tracking recruitments, this software performs all the duties of the HR department. It also fetches data from other Office management systems to form an integrated web of information for a better outlook and overview of information.

You can also read : Why HR Management System is beneficial for an Organization

Benefits of Human Resource Management

Human Resource Management is one of the most important departments to be taken care of, in a business venture.  It upholds and enhances its management structure to provide a smooth and efficient work structure for the company.

HRM engages with a broad set of systems that aim at monitoring all ongoing processes of the company.

To understand how an HRM helps the company, here are a few use instances :

Employee Management

A key benefit of an HRM is the ability to manage employees and cater to all their needs and requirements. Consider an example where the employee has changed their address and now they need to update the information in the company database. This can be easily done by the employee’s access to the employee portal. No more sending and keeping track of emails between employee and manager.

It is important for companies to maintain an updated version of all the employee information therefore the employee will reach out to the admin.

The admin will then guide them in the process by fetching the correct files and ensuring that the updates are carried out in a smooth manner.

On the surface level where this appears to be a minor task when performed in numerous organisations it altogether consumes a considerable amount of time and energy. When this task is performed efficiently with the help of HRM, it makes things easy for the company and the employees.

Felicitating Employee On-boarding

Human Resource Management can also make the on-boarding process much more consistent and valuable. With new additions to the team, it becomes important to ensure that everyone finds a comfortable environment to work in.

To ensure this, the HR department needs to pay attention to the very start of the employee’s journey in the company i.e. provide a smooth and convenient on-boarding experience to them. This not only allows them to develop their confidence but also assures a good first impression of the company in the eyes of the employee.

You can also read : What is the importance of HRMS for Digital Marketing Agencies? 

Features of Human Resource Management 

HRM comes with numerous features that are necessary for the growth and smooth operation of an enterprise.

Some of these features are :

Employee hiring and selection

Hiring employees for the enterprise is one of the most essential functions of Human Resource Management. HR goes through each application and shortlists the ones that match the required qualification and skill set demanded for the job.

This process is very important as it only will include members who can align with the vision of the company and strive to achieve its goals and objectives.

Formulating a Job design &  analysis

HRM is responsible for formulating the job design and jb analysis of different posts in an enterprise. For job designs, the HR manager compiles information like duties, responsibilities, role expectations and operations of the job.

Human Resource Management studies these factors intricately to ensure that they hire a deserving employee who would fit in the job role, their team and the overall work structure of the company. Job analysis pertains to characterizing all job prerequisites like the employee’s skill set, their qualification and their work experience.

Employee training

After hiring and on-boarding employees, HRM also takes care of employee training and development. HR department has to make sure that all their employees are accustomed to the latest updates in their office space from their daily schedule to fresh tools and software.

HRM arranges the training sessions for employees so they can acquire work and company oriented skills in order to drive the company towards success. These sessions also aim at developing their work ethics and giving a boost to their overall efficiency.

It prepares employees for bigger projects, urgent tasks and the responsibilities they need to take up for their own professional development and the overall growth of the company.

Talent Management

Human Resource Management also includes talent management of each employee working for the enterprise. This is done by the HR departments to monitor the work of their employees and have a report of their performance graph for every month.

It also assists the admin in assessing the performance of the employee while considering a raise in their monthly payments or assigning projects to them.

Employee Stats

HRM maintains performance reviews, performance stats along with hire and exit schedules of the employee. This helps the admin maintain a history of each employee for future purposes. This information is well documented and stored for future references.

Securing compensation and benefits

The Human Resource Department is functional in breaking down a clear indication of all company policies, protocols and guidelines for an employee. HRM also safeguards their rights with respect to the compensation, and benefits that the company is liable to pay the employee.

They are also instrumental in ensuring that these policies are properly implemented and followed both by the company and the employees.  This leads to the development of better understanding in the company and creates transparency between the management and the employee.

Conclusion

Human Resource Management is the foundation for forming a healthy and thoughtful work environment in a company. It takes care of numerous requirements of the company by managing, monitoring and assessing employees to come up with ways of utilizing their potential in the progress and improvements of the company.

With numerous technological advances in the market, there are Human Resource Management Software that have proven to reduce the amount of time and energy invested in performing HRM tasks manually.  Juntrax is a prime example of a convenient and premium HRM Software which comes with a wide range of tools and features.

To check our Juntrax HRM Software, book a FREE Demo now!