1 Functions of Human Resource Management An effective human resource management system requires companies to understand and develop certain critical human resource management areas to ensure their success. Such areas include performance management, human resource planning, recruitment, selection, human resource development, compensation and benefits, and labor laws and regulations. Managers need to have a significant understanding of each of these areas.
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2 Performance management It entails the evaluation of an employee’s performance by a manager according to the measurable standards that had been developed before. Performance management and appraisals are usually carried out after a given time period during a reporting cycle. However, the observation of the employees and feedback can be done at any given time across the year to determine areas that require improvement or document superior performance. Both performance appraisal and performance management provide important data that the management can use to identify the workforce's training and development needs. Many companies only use performance appraisals to make decisions regarding promotions and salaries (Youssef, 2015). Nonetheless, managers need to understand that performance appraisals' primary goal is employee development. Further, companies must also understand that performance management should be administered objectively and correctly to ensure a significant impact on the organizational employees’ growth and development, thus improving the overall company's success (Feldman, 2017). Human resource planning, recruitment, and selection Human resource planning entails the activities relating to the determination of the number of employees required by a company to enable the efficient performance of the present and future operations. Apart from determining how many employees are needed, it is also important for organizations to plan where and how employee recruitment will occur to fill the vacant positions. Appropriate planning and recruitment strategies will help companies adopt the most appropriate applicant selection method that matches the job requirements with the applicant’s knowledge, skills, and abilities. Interviews, reference checks, resumes and applications, drug screenings, and medical exams are among the most popular selection methods utilized by most
3 companies (Millet, 2017). The hiring of the best candidate to fill a position requires organizations to choose the most appropriate combination of selection methods. Human resource development The top priority of most successful organizations across the globe entails investing in developing their employee's knowledge, skills, and abilities. Effective employee training and development is instrumental in ensuring retention of talent, higher employee productivity, as well as the development of a sustainable human-based competitive edge. Employee training helps them to carry out their present job responsibilities more efficiently. According to Youssef (2015), employee development should focus on preparing the organizational staff for higher responsibility positions. Training and development are significantly used in most organizations to help new employees acclimatize to the firm's new working conditions and culture. Compensation and benefits Compensation and benefits refer to the monetary payments and non-monetary benefits received by an employee from an organization for the tasks he or she carried out for the company. Executive pay, bonuses, price pay, hourly pay, and salary make some examples of monetary payment. On the other hand, businesses can also provide benefits like flex scheduling, tuition reimbursement, health insurance package, personal and sick leave, as well as retirement benefits (Youssef, 2015). One of the primary reasons an employee can leave his or her job for employment elsewhere revolves around pay and benefits. Therefore, organizations must come up with the most appropriate compensation and benefits package that can help them attract, develop, and retain talented organizational staff. Such monetary and security benefits as health and life insurance assure an existing or potential employee that his or her family is well-taken care of.
4 On the other hand, other benefits like flex schedule and time off will improve the employee’s life balance needs. Getting new employees to fill vacant positions in an organization is an expensive undertaking. Thus, businesses can use the money saved in retaining valuable talents to increase their compensation and benefits or further train and develop them. Employment labor laws and regulations The Equal Employment Opportunity Commission of the United States is charged with investigating and enforcing laws regarding unfair treatment, harassment, or discrimination based on genetic information, disability, age, the nation of origin, sex, religion, color, or race. Employees are also protected by law from retaliation, which may happen when they report unfair treatment, harassment, or discrimination incidences. Labor laws have been enacted throughout the history of the country to ensure the protection of the rights of the employees and promote workplaces that are discrimination and harassment-free. With so many laws in place to protect employees from discrimination and unfair treatment, the human resource department needs to have a significant understanding of such laws and develop policies that will ensure compliance. The department must also remain updated on the new laws that prohibit discrimination and harassment based on one’s disability, age, race, sex, national origin, or religion.
5 References Feldman, J. (2017, Dec 01). Adapting the performance appraisal process to meet the needs of the modern workplace. Forbes. Retrieved from: https://www.forbes.com/sites/forbeshumanresourcescouncil/2017/12/01/adapting-theperformance-appraisal-process-to-meet-the-needs-of-the-modern-workplace/? sh=599bec75342a Millet, J. (2017, October). The 2018 Human Resources trends to keep on your radar. Forbes. Retrieved from https://www.forbes.com/sites/forbeshumanresourcescouncil/2017/10/26/ the-2018-human-resources-trends-to-keep-on-your-radar/?sh=48374b7721b3 Youssef, C. (2015). Human resource management. (2nd ed.) Bridgepoint Education.