Any organization, big or small, has a primary function of attracting, developing and retaining of quality employees. Human Resource management takes care of this aspect and forms the heart of the organization. The main goal of the HR management is to increase the market productivity of the company while supporting employee management.
What makes for the best HR practices?
Starting with the hiring of an employee, after a thorough analysis of the candidate as well as the job requirement, it depends on the organization and its HR practices to keep the candidate content. Good HR practices bring positive results at the workplace and encourage people to work in the environment. Content employees enjoy their jobs and support organization and which will in-turn help in the growth of the company.
One such company which has won People Management’s all time HR accolade is Cadbury. They have been idolized for, how a big company could focus on its employees’ needs and make profits. Cadbury and Bournville, make it a point that the priority is not on the products and business, but the people. The workers are content and have voted it to be a great place to work. The company founders, Richard and George Cadbury, were known for joining the employees for a game of football in the late 19th century. The company also boasts about their generosity in the employees’ pay and holiday allowances. It also advocated equality in pay for men and women during the earlier times which resulted in happier women and healthy sex ratio of working women in the company. The tradition continues even today with transparent personal development for each employee in the company keeping their long term and short term progress in perspective.
Why HR Management is gaining popularity?
Companies are starting to realize that the HRs hold the key to a company’s performance, in the name of employees and their performance. With the global economy gaining momentum, there is competition for clients, employees and jobs. HR executives around the globe are being trained to understand the organization’s goals and build strategies to increase or double the goal by the upcoming year.
• An HR’s role does not end with hiring a right candidate. HRM involves participating in the corporate decision making regarding the staffing and workforce management and the projections in future.
• Managing the compensation for employees with the current trends aligning with the company’s current and projected financial revenue.
• Safe working conditions and employee benefits are not to be ignored. They are essential in retaining the employees. The benefits also include leave functions and vacations.
• Performance management of the employees with appropriate training and development affects the performance of the organization as a whole.
• Keeping the organization legal is a role of utmost importance in HR Management. The department needs to be aware of the laws and policies to maintain the company standards and integrity and also look into the inter-personal relationship conflicts between employees or any other types of conflicts.
What to look for in the future?
The future of HR will be hugely impacted by technology, with many functions of HR turning towards atomization. The employee self-help options are already in place in many big organizations and are catching on like trending topics on twitter. HRs will most likely don the managerial roles and learn about business models and organizational dynamics and be effective profit analyzers. Outsourcing of the HR functionality is also highly plausible, depending on its success rate. Potentially, HR management department will be strategic partners with the business functionality of the organization and can be involved with individual projects.