Human resource management (HRM, or simply HR) is the management of an organization's workforce, or human resources. It is responsible for the attraction, selection, training, assessment, andrewarding of employees, while also overseeing organizational leadership and culture, and ensuring compliance with employment and labor laws. In circumstances where employees desire and are legally authorized to hold a collective bargaining agreement, HR will typically also serve as the company's primary liaison with the employees' representatives (usually a labor union).
HR is a product of the human relations movement of the early 20th century, when researchers began documenting ways of creating business value through the strategic management of the workforce. The function was initially dominated by transactional work such as payroll and benefits administration, but due to globalization, company consolidation, technological advancement, and further research, HR now focuses on strategic initiatives like mergers and acquisitions, talent management, succession planning, industrial and labor relations, and diversity and inclusion.
In startup companies, HR's duties may be performed by a handful of trained professionals or even by non-HR personnel. In larger companies, an entire functional group is typically dedicated to the discipline, with staff specializing in various HR tasks and functional leadership engaging in strategic decision making across the business. To train practitioners for the profession, institutions of higher education, professional associations, and companies themselves have created programs of study dedicated explicitly to the duties of the function. Academic and practitioner organizations likewise seek to engage and further the field of HR, as evidenced by several field-specific publications.
Clarifying Some Terms -- Human Resource Management, Human Resources, HRD, Talent Management
The Human Resource Management (HRM) function includes a variety of activities, and key among them is responsibility forhuman resources -- for deciding what staffing needs you have and whether to use independent contractors or hire employees to fill these needs, recruiting and training the best employees, ensuring they are high performers, dealing with performance issues, and ensuring your personnel and management practices conform to various regulations. Activities also include managing your approach to employee benefits and compensation, employee records and personnel policies. Usually small businesses (for-profit or nonprofit) have to carry out these activities themselves because they can't yet afford part- or full-time help. However, they should always ensure that employees have -- and are aware of -- personnel policies which conform to current regulations. These policies are often in the form of employee manuals, which all employees have.
Some people distinguish a difference between HRM and Human Resource Development (HRD), a profession. Those people might include HRM in HRD, explaining that HRD includes the broader range of activities to develop personnel inside of organizations, e.g., career development, training, organization development, etc.
The HRM function and HRD profession have undergone tremendous change over the past 20-30 years. Many years ago, large organizations looked to the "Personnel Department," mostly to manage the paperwork around hiring and paying people. More recently, organizations consider the "HR Department" as playing a major role in staffing, training and helping to manage people so that people and the organization are performing at maximum capability in a highly fulfilling manner. There is a long-standing argument about where HR-related functions should be organized into large organizations, eg, "should HR be in the Organization Development department or the other way around?"
Recently, the phrase "talent management" is being used to refer the activities to attract, develop and retain employees. Some people and organizations use the phrase to refer especially to talented and/or high-potential employees. The phrase often is used interchangeably with HR -- although as the field of talent management matures, it's very likely there will be an increasing number of people who will strongly disagree about the interchange of these fields.
Many people use the phrase "Human Resource Management," "Human Resource Development" and "Human Resources" interchangeably, and abbreviate Human Resources as HR -- HR has become a conventional term to refer to all of these phrases.
Thus, this Library uses the phrase "Human Resources" and the term "HR," not just for simplicity, but to help the reader to see the important, broader perspective on human resources in organizations -- what's required to maximize the capabilities and performance of people in organizations, regardless of the correct phrase or term to be applied when doing that.
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ccording to recent surveys by Money magazine and Salary.com, human resource management is one of the top five professions in the U.S., with a projected annual growth rate over the next 10 years of 32,000 job openings per year. The M.S. in Human Resource Management and Development at NYU was created to satisfy the critical demand for human resource leaders who can think strategically and implement globally.
The degree provides you with the fundamental knowledge needed to invest in human capital, including recruiting and hiring new employees, overseeing compensation and benefits, improving employee relations, and ensuring compliance with labor laws. It also gives you with the financial and accounting tools necessary to make sustainable competitive differentiation through people.
The M.S. program is taught by a faculty of expert HR practitioners with extensive hands-on experience in the field. They provide you with the tools and information to succeed in high-level human resource management positions. Creating a true community atmosphere within the program, our instructors care about the success of each student and are eager to share their expertise through a comprehensive curriculum, as well as through advisement, conferences, and networking opportunities. Our faculty members have occupied senior management positions, ranging from vice president to senior specialist, in such diverse companies as Chase, Goldman Sachs, Time magazine, Con Edison, American Express, and Pfizer.
CONCLUSION
Human Resource Development in Management is the integrated use of training, organization, and career development efforts to improve individual, group and organizational effectiveness. HRD develops the key competencies that enable individuals in organizations to perform current and future jobs through planned learning activities. Groups within organizations use HRD to initiate and manage change. Also, HRD ensures a match between individual and organizational needs.
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