Human resource management

Human resource management (HRM) is the strategic and coherent approach to the effective and efficient management of people in a company or organization. Human resource management is primarily concerned with the management of people within organizations, focusing on policies and systems. HR departments are responsible for overseeing employee-benefits design, employee recruitment, training and development, performance appraisal, and reward management, such as managing pay and employee benefits systems. The overall purpose of human resources (HR) is to ensure that the organization can achieve success through people. HR professionals manage the human capital of an organization to maximize employee performance. They can specialize in finding, recruiting, selecting, training, and developing employees, as well as maintaining employee relations or benefits. Training and development professionals ensure that employees are trained and have continuous development. This is done through training programs, performance evaluations, and reward programs. Employee relations deals with the concerns of employees when policies are broken, such as in cases involving harassment or discrimination. Managing employee benefits includes developing compensation structures, parental leave, discounts, and other benefits. On the other side of the field are HR generalists or business partners. HR is a product of the human relations movement of the early 20th century when researchers began documenting ways of creating business value through the strategic management of the workforce. It was initially dominated by transactional work, such as payroll and benefits administration, but due to globalization, company consolidation, technological advances, and further research, HR as of 2015 includes strategic initiatives like mergers and acquisitions, talent management, succession planning, industrial and labor relations, inclusion, employee retention and lowering employee turnover.