| Human Resource management and human capital | | | | can further be customized based on internal data; |
| management are vital to any size business. In essence, | | | | hence resulting in a viable set of possible goals that |
| human capital is one of the few areas that can silently | | | | can be integrated into overall company strategy. |
| devalue the efforts of all other departments. Hence, | | | | Forecasting the supply and demand for human |
| here are some basics of human resources: | | | | resources in an organization. |
| Definition of Human Resource Management . | | | | As in most business decisions, it is rather difficult to pin |
| Human resources is defined as internal efforts in order | | | | point the most viable sources for forecasting. |
| to increase the effectiveness and efficiency of human | | | | However, in HR there may be more choices to select |
| capital and talent. The ultimate goal of HR is to | | | | from sources such as department of labor, |
| measurably and quantifiably contribute to company | | | | department of education, trade associations, local state |
| well being and profits. | | | | and government and previous internal data. |
| There are seven different categories of human | | | | Motivation and individual performance. |
| resources: | | | | Motivation is a subjective matter: in many cases |
| - Strategic HR referring to maximizing methods to | | | | employees motivation maybe linked to performance. |
| staff the company with the ultimate goal to enhance | | | | Factors such as corporate culture, co-worker |
| capabilities and profitability | | | | competency, training and education, personal desire to |
| - EEO referring to efforts to equal employment | | | | enhance career goals, family issues, and monetary |
| opportunity | | | | consideration may illustrate cartelists that would |
| - Staffing referring to effort to locate an hire the | | | | enhance performance capability and ability. However, |
| proper employees at the right time | | | | the same factors may decrease the ability or the |
| - HR development referring to all directional efforts to | | | | willingness of employee to be motivated. In general |
| optimize staffing, orientation and retention. | | | | motivation can be linked to performance output; |
| - Compensation and benefits referring to monetary | | | | however, motivation should not be considered as a |
| and non-monetary employee reimbursement/s | | | | "stand alone" reason. |
| - Health and safety referring to all efforts to maintain | | | | Retention management process |
| optimal situation in workplace to avoid employee | | | | The retention management process entails three |
| endangerment | | | | steps: |
| - Labor relations refers to multi directional efforts to | | | | - Measurement and assessment referring to objective |
| maintain legal and viable relations in regards to | | | | quantitative and qualitative data analysis and |
| employee rights and obligations. | | | | examination. It may include qualitative examination |
| Defining HR planning and HR planning process. | | | | based on interviews or quantitative analysis of numeric |
| HR planning in essence refers to examination of | | | | data. |
| previous, current and potential future trends in order to | | | | - Recruiting and selection methodology referring to |
| devise the most viable strategy and plan to fit the | | | | predetermined standard operating rules in order to |
| organizational goals. In general, HR planning is simply | | | | select and recruit the most viable employees at the |
| the most basic mode of dealing with needs of human | | | | right time. |
| capital of a company. The planning starts with | | | | - Evaluation and follow up which refers to |
| examination of company specific data as well as | | | | methodological and continues process of assessment |
| general industry data which will enable the HR | | | | and pursue of employee performance and grievances. |
| department to devise projections. Those projections | | | | |