Human resource management (HRM) is the strategic and coherent approach to the management of an organization's most valued assets - the people working there who individually and collectively contribute to the achievement of the objectives of the business. The terms "human resource management" and "human resources" (HR) have largely replaced the term "personnel management" as a description of the processes involved in managing people in organizations.
In simple sense, HRM means employing people, developing their capacities, utilizing, maintaining and compensating their services in tune with the job and organizational requirement.
Its features include:
- Organizational management
- Personnel administration
- Manpower management
- Industrial management
But these traditional expressions are becoming less common for the theoretical discipline. Sometimes even employee and industrial relations are confusingly listed as synonyms, although these normally refer to the relationship between management and workers and the behavior of workers in companies.
One widely used scheme to describe the role of HRM, defines 4 fields for the HRM function:
- Strategic business partner
- Change management
- Employee champion
- Administration
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