Human resource management means managing people. It is people, if not properly managed become problem. Top managements of the organizations are now paying increased attention to the human resource management because they have now realized that human resources need to be closely integrated with planning and decision-making.
Human resource management, therefore, involves all managerial decisions, policies and practices that influence human resources directly. According to Wendell L. French, the human resource management, “refer to the philosophy, policies, procedures, and practices related to the management of people within an organization”.
To David A. Decenzo and Stephen R Robbins, Human Resource Management is, “a process consisting of the acquisition, development, motivation, and maintenance of human resources.”
It means that human resource management includes human resource planning, job analysis, job design, acquisition, training and development, compensation, benefits and rewards, safety and health, motivation, employee participation in management, organization development, performance appraisal, job evaluation, Human relations, employee counselling, personnel research and human resource information system (HRIS) etc.
Human resource management also means viewing people as vital social capital. Right placement of men and women in the right jobs is essential for effective human resource management. Simply placement is not enough, their development and maintenance, providing ample opportunities for their career advancement and providing timely counselling is also important.
It will facilitate dramatic improvements in productivity and quality. There are plenty of people but good people which corporate require are always in short supply. The success of HRM lies in the fact that it can refine those stocks of human resources which are not that good because human resource development is the crux of human resource management.
Human resources are the valuable assets of the corporate bodies. They are their strength. To face the new challenges on the fronts of knowledge, technology and changing trends in global economy needs effective human resource management.