Significant Role of Hrm
Essay title: Significant Role of Hrm
The most valuable asset in an organization is the staff. Without them, day to day business functions cannot be carried out. This essay is about the significant role of Human Resource Management (HRM) based on my understanding and experience. In the next few paragraphs, I will talk about the various human resource functions and how my company operates.
HRM is the management of people in an organization. Its primary goal is to help the organization meet its strategic direction by hiring, maintaining and managing employees effectively. There are six functional areas of HRM, namely, strategic management, workforce planning and employment, human resource development, compensation and benefits, employee and labor relations and occupational health and safety.
Strategic management targets at how the organization produces and promotes its services and products to its competitive advantage. It is a continuous process that analyses the business and its competitors. It sets objectives and plan strategies to meet the existing and potential competitors and then reassesses each strategy regularly to determine how it has been derived and whether it is successful or requires alteration to further enhance its purpose.
In order to remain competitive in the business world, organizations must ensure that they employ the ideal people in the right numbers at the right time. Workforce planning and employment is about predicting the future demand for various types of staff and skills and seeking to match this with supply. It provides the vital link between business planning strategies and people plans for recruitment and retention, staff development and training.
Human Resource Development is about helping employees develop their personal and organizational skills, knowledge, and abilities. This includes opportunities such as training, career development, performance management and development, tuition assistance, and organization development. The main focus of all aspects of it is on developing the most competent workforce so that the organization and individual employees can achieve their work goals in service to their customers.
Compensation and benefits is the function that is concerned with managing salary and entitlements. The organization has to be kept up to date with the market trends in order to know how much every employee is entitled to. Every one of us has our own reasons for working and the primary reason would be money. Salary and benefits help to motivate employees and increases productivity.
It is very important to build a good relationship between managers and employees as it affects the organization’s performance indirectly. The employee and labor relations function focuses on creating and maintaining a harmonious relationship and working conditions. It provides an essential support for both the organization and individual employees.
The function of occupational health and safety is responsible for promoting the physical and mental well being of the staff. Human resource personnel are in charge of implementing plans to reduce accidentals at the workplace. They have to ensure employees are well equipped and dressed appropriately when carrying out duties.
I like to share my experience at Raffles Shipmanagement Services Pte Ltd. First of all, let me tell you a bit about my company. We basically manage vessels for ship owners, right from hiring crews to work onboard, purchase of stores and spares to running the entire operation. I’m currently working as an Administrator. My duties are to support both the Technical and Marine Manager. Besides that, I handle the day to day activities like answering calls, requisition of consumables, arranging interviews, etc. We do not have a HRM team even though our workforce consists of 134 employees. The numerous human resource tasks