HRM-Lesson 1

• Human Resource Development is the training and development you give to your employees. It's the way you skill up your staff so they can work at their best and give you a competitive advantage.
• Human Resource Management is management of workforce of an organization.
• Human Resource Development is the framework helping employees develope their personal and organizational skills, knowledge and abilities.
• Recruitment is the process of attracting a pool of potential candidates for a job opening.
• Selection involves assessing and choosing the best fit candidate from that pool.
• Staffing is the process of filling positions/posts in organization with adequate and qualified personnel.
• Training and Development are educational and skill-building activities intended to improve the knowledge and skills of employees.
• Compensation Management is the process of managing, analyzing, and determining the salary, incentives and benefits each employee receives.
• Performance Appraisal is the regular review of an employee's job performance and overall contribution to a company.
• Recruiting is to attract efficient candidates eager to work for your firm. You must have a well-organized, comprehensive and fast hiring process.
• Onboarding: First impressions are crucial, so make sure the onboarding process is flawless. If you don't deliver pleasant feedback or you appear disorganised and incompetent, it will reflect poorly on your business.
• Workforce planning: contains both strategic HR operations and daily staff management. This process covers staffing requirements, leave management, shift planning and forecasting , and overtime management.
• Talent Management: Companies frequently recruit talented people and leave them alone, only keeping a watchful eye on them at performance evaluations.
• Performance Management: Business used to create annual performance indicators and targets and only fixed problems during the yearly evaluation.
• Learning and Training: Learning and Training should be your company's top priority. Staff morale rises due to training opportunities, resulting in a higher retention rate.
• Offboarding is a new concept. Businesses in the past used to be negligent when it came to dismissing an employee.
• Benefits Administration: Salary and wage decisions, perks, fringe benefits, and remunerations are all part of the process, income is the most powerful motivation in any career, emphasizing the significance of this procedure.
• Employee Relations is a challenge for businesses, particularly in industries where competition is fierce. Through numerous factors influence a person's decision to stay with or quit a company.
• Recruiting it involves identifying the right talent for the organisation and attracting them through various channels such as job posting, career fairs and social media.
• Retention it involves creating an environment where employees feel valued, supported, and motivated to stay with the company.
• Rewards recognising and rewarding employees for their contributions is essential for boosting morale and motivation.
• Reskilling not only benefits the individual employees but also strengthens the organisation as a whole. It enables companies to adapt to new technologies, industry trends, and market demands, ensuring they remain competitive in the long run.
• Redeployment refers to the process of rellocating employees to different roles or departments within the organisation.
• Resourcing involves effectively managing the organisation's workforce, ensuring the right people are in the right roles at the right time.
• Restructuring involves making changes to the company's structure, roles or processes to improve efficiency and adapt to changing business needs.
• Relationship building- building strong relationships within the organisation and with the external stakeholders is crucial for HR professionals. They act as a bridge between employees and management fostering open communication and trust
• Vision it is a long term view and concentrates on the future/a descriptive picture of a desired future state
• Mission defines the fundamental purpose of an organization or an enterprise, succinctly describing why it exists and what it does to achieve its vision.
• Values drive an organizations culture and priorities and provide a framework in which decisions are made.
• The words goal and objective are often confused with each other. They both describe things that a person may want to achieve or attain but in relative terms may mean different things. Both are desired outcomes of work bone by a person but what sets them apart is the time frame, attributes they're set for and the effect they inflict.
• SMART means Specific, Measurable, Appropriate, Realistic and Time based
• Human resource planning is the continuous process of systematic planning ahead to achieve optimum use of an organization's most valuable asset - quality employees. Ensures the best fit between employees and jobs while avoiding manpower shortages or surpluses
• Human Resource Planning Process

  1. Analyzing organisational plans
  2. Forecasting demand for human resources
  3. Forecasting supply for human resource
  4. Action planning
  5. Monitoring and control
• Human resource policies are continuing guidelines on the approach an organization intends to adopt in managing it's people. A good HR policy provides generalized guidance on the approach adopted by the organization, and therefore its employees, concerning various aspects of employment.
• Organization is a social unit of people, systematically structured and managed to meet a need or to pursue collective goals on a continuing basis.
• Organisation design refers to the process of creating hierarchy in the organization structure and determining the flow of responsibility and authority within the structure in an organization.
• Organizational Structure it is a framework within which an organization arranges its lines of authorities and communications and allocates rights and duties
• Job Description a written statement that describes the activities and responsibilities of the job, as well as its important features, such as working conditions and safety hazards.
• Job descriptions it specifies the parameters within which a job is to be performed in an organization; it is thus a guide to any employee recruited for a particular job.
• Job specification a list of jobs "human requirements" that is, the requisite education, skills, personality, and so on. It is the personal quality and skills needed in an employee to successfully perform the task of a work position.