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