HRM essay Q1 “As the global economic crisis deepens what impact will it have on the objectives and practices of Human Resource Management?”
Human resource management is defined as “ the function within an organization that focuses on recruitment of, management of, and providing direction for the people who work in the organization. Human Resource Management can also be performed by line managers.” (about.com). Tyson (1995: 169) defines HR strategy as `the intentions of the corporation, both explicit and covert, towards the management of its employees, expressed through philosophies, policies and practices'. The objectives and practices of HRM are to deal with issues related to people (i.e. hiring and firing, compensation, training ,safety etc) and to take a strategic and comprehensive approach to managing people and the workplace culture and environment. The main goal as “an HR professional is to increase the productivity of the workforce by providing advice and programs that can directly increase the effectiveness of employees and managers”.(Recession the human capital challenge.)The continuing debate on Human resource management suggests that the role of HRM is central to the organisations success.( Lahteenmaki, S. et al. (1998)). In times of economic recession the HR managers will have to work harder to implement their practices and objectives and fight to ensure their company is and remains successful.
“When the going gets tough, HR can choose to be either a victim or part of the solution.”(Recession , the human capital challenge)
In times of recession is HR forgotten about? The United states –based National Bearu of economic research (NBER) defines economic recession as “a significant decline in economic activity spread across the country lasting more than a few months, normally visible in real GDP growth, real personal income, employment, industrial production and whole-sale retail sales”(economic recession).In recent years, HR managers...