DIFFERENT FACTORS OF HRM IN REPUTED INDUSTRIES

DIFFERENT FACTORS OF HRM IN REPUTED INDUSTRIES内容摘要：

DIFFERENT FACTORS OF HRM IN REPUTED INDUSTRIES Dr.B.KRISHNA Assistant Director, Dr.B.R.Ambedkar Open University, Jubilee Hills, Hyderabad ABSTRACT: Human Resource is the most important asset for any organization and is the source of achieving competitive advantage. For the accomplishment of organization objective, Human resource has become the unending source of strength and ability. To cope up with the competitive edge and challenge of managing Human resource organizations require effective HRM system. This HRM system should further be backed up by sound HRM practices. HRM practices refer to organizational activities directed at managing the human resources and ensuring fulfillment of organizational goals through this Human resource. From existing literature it was found that HRM practices get affected by various factors and directly or indirectly also affects other variables such as employee's behavior, attitude, employee’s productivity, relations with other employees and employer, financial and overall performance of the organization. This paper is an attempt to review the existing literature available on HRM Practices to develop an understanding of determinant of HRM Practices and determine the dominant factors. Keywords: Human Resource, HRM Practices 1.0 Introduction: The practice of human resource management (HRM) is concerned with all aspects of how people are employed and managed in organizations. It covers activities such as strategic HRM, human capital management, corporate social responsibility, knowledge management, organization development, resourcing (human resource planning, recruitment and selection, and talent management), performance management, learning and development, reward management, employee relations, employee well-being and health and safety and the provision of employee services. HRM practice has a strong conceptual basis drawn from the behavioral sciences and from strategic Volume 01, Issue 05, may 2017 management, human capital and industrial relations theories. This foundation has been built with the help of a multitude of research projects. While human resource management is sometimes referred to as a "soft" management skill, effective practice within an organization requires a strategic focus, planning and execution to ensure that people resources can facilitate the achievement of organizational goals. Fundamentally, human resource management is based on the assumption that employees are individuals with varying goals and needs. Human resources should not be categorized with basic business resources; on the other hand, HRM is a strategic, integrated and coherent approach to the employment, ISSN 2581 – 4575 Page 1 development and well-being of the people working in organizations. Human resource management involves all management decisions and action that affect the nature of the relationship between the organization and its employees – its human The characteristics of HRM are that it is diverse, strategic and commitment-oriented, adopts a unitary rather than pluralist viewpoint, is founded on the belief that people should be treated as assets and is a management-driven activity. HRM tends to focus on business values although there is a growing body of opinion that it has also to be concerned with employee-centered outcomes. In its fully developed form, HRM functions as a system it links, integrates and coheres. There are no universal characteristics of HRM. Many models exist, and practices within different organizations are diverse, often only corresponding to the conceptual version of HRM in a few respects. HRM practice in India: The terms „human resource management‟ (HRM) and „human resources‟ (HR) have virtually replaced the term „personnel management‟ as a description of the processes involved in managing people in organizations, although what is now described as HRM is in practice often synonymous with what used to be described as personnel management. Michael Armstrong, in A Handbook of Human Resource Management Practice (2009), describes Human Resource Management as “the strategic and coherent approach to the management of an organization's most valued assets - the people working there who individually and collectively contribute to the achievement of the objectives of the business.” With the Volume 01, Issue 05, may 2017 growing importance of human capital as a success factor for today‟s organizations, the role of HR has become more critical for corporate India as it of