HRM

Human Resource Management

[Name of the Institute]

Table of Contents

Introduction1

Workforce Planning1

Importance of Workforce Planning2

Budget2

Training2

Talent3

Expansion3

Difficulties in Workforce Planning3

Requirements for recruitment4

Programme for professional development and training5

Motivations for Employees5

Different Schools of Management5

Management Behaviour6

Objectives6

Marketing6

Objectives6

Financial Management6

Objectives7

The Classical School of Management7

Weaknesses of the Classical Management Theories7

Scientific Management8

Drawbacks of Scientific Management8

Implementing change within an organisation9

Example9

Conclusion9

Human Resource Management

Introduction

Human Resource Management (HRM) is that the domain of the company, which focuses on the recruitments, management and provides direction to the people of the organization. Human Resource Management also deals with the hiring, compensation benefits, performance management, employers' motivation, training and means of communication within the organization. It also manages the workplace environment and culture. Good, productive HRM makes sure that the employees contribute effectively and productively in the overall performance of the organization. This helps in accomplishing the organization's goals and objectives. Human Resource Management has several goals (Torrington, 2008, pp. 23-54).

From those few of them are as follows:

The top most goal of HRM is to meet the business and management, rather than providing the reimbursement to employees.

Another objective is to link the policies to the business goals and objectives

HRM finds ways to add value to the business.

HRM helps the business to gain commitment of employees.

Workforce Planning

Workforce planning identifies the outlook workforce requirements and calculates the numbers, nature and resources of potential employees who might meet that demand. In simple words, workforce planning means recruiting the right number of people, with the right skills, in the right place, at the right time. Workforce planning is one of the most important activities in a business. Its first step is to analyse the strategic position of the company. The result of the analysis then used for a forecast, of the essential demand for labour by the business. It also tells that how should be the requirements supplied to the employees. The final step of workforce planning is the implementation of a human resource plan. This plan aim is to deliver the exact number of people in the business (Robert, 2004, pp. 3-11).

Importance of Workforce Planning

Workforce planning helps in identifying the requirements, and it plans the implementation of it. It is very important as it plans out the budget, how training be done and talent, etc. that the company looks for.

Budget

Making the balanced budget is very important for any organization. Workforce planning is a procedure that foresees increases in profits, at the various employee groups within the company, and helps to plan for those increases in advance. The workforce planning might identify a need for a considerable increase in employee population. This means that the amount of salary budget will increase. Workforce planning helps in identifying this need and making the appropriate budget. When more employees hired, more equipment also needed. All these things planned in the workforce planning.

Training

Competition is everywhere and in every field. Better workforce planning is an advantage for the company over their competitors. Workforce planning identifies the upcoming trends in training needs. All employees trained according to the requirement. Comprehensive training programmes arranged by HRM for the employees, ...