HRM & BUSINESS PERFORMANCE

The impact of HRM (human resource management) strategies on overall business performance

Summary

The paper is about the key HR Concepts that implies in organizations. The workforce today is more globalized in nature. More complex interactions require that today's HR representatives attempt to recruit well-educated and diverse employees capable of operating in a rapidly changing environment . Because of the changes that are occurring in the workforce, Human Resource departments have had to adapt and expand their roles in order to accommodate the growing needs of evolving employees and organizations. The paper also discusses the process of human resource planning in different settings and in the light of changing external and internal influences. Whereas in times of old HR departments were concerned with payroll and health insurance, today human resources departments typically consist of several different areas including: labor relations, benefits, payroll, workers compensation, classification and compensation, and recruitment. Part of this is due to an increasing need for more flexible benefits for employees. More and more there is word of positive changes in organizations as a result of emerging trends and changes in Best HRM practices. Finally the paper explains the key criteria used in recruiting and selecting staff & key steps involved in the resourcing of staff.

The impact of HRM (human resource management) strategies on overall business performance

Purpose (introduction)

The purpose of the paper is to examine the impact of HRM (human resource management) strategies on overall business performance. Although considerable research has been conducted over the last two decades to determine how employees' commitment to an organization develops, the potential impact of human resource management (HRM) practices on commitment has received far less attention than it deserves. (Gerhart, 2006) The results of those studies that have been conducted, however, do provide some evidence to suggest that organizations can influence employees'' commitment through their Best HRM practices. Perhaps more importantly, the findings suggest that the nature and strength of the influence might be determined by how employees perceive these practices. The effective use of Best HRM practices to foster employee commitment, therefore, requires an understanding of the mechanisms by which these practices exert their influence on employee commitment. (Gerhart, 2007)

Approach

The paper starts with the explanation of the key concepts involved for e.g. HRM and Personnel Management; HRM Strategy etc. After that the paper discusses various human resource planning processes that organizations implements today. Next will be the explanation of the key criteria used in recruiting and selecting staff. Along with that the paper depicts the steps involved in the resourcing of staff. Finally the paper provides the practical implication for the future perspective is explained along with conclusion. (Pilbeam 2006)

Evaluation of theories, models and literature quoted

Human Resource Management

The term human resources refer to people in an organization. Human resources contribute in an organization's success in many ways. They must support company's strategy. The strategic management for human resources requires managers to use HR efforts to increase the firm's competitive advantage through plans and actions focused on contributing the ...