What Is Hrm Essay

321 Words2 Pages
What is Human Resource Management? Extract from "Raymond J. Stone. Human Resource Management, 6th edition. John Wiley & Sons" (chap. 1 p 3, p5). Human resource management (HRM): Involves the productive use of people in achieving the organisation’s strategic objectives and the satisfaction of individual employee needs. Objectives: Measurable targets to be achieved within a certain time frame. The focus of human resource management (HRM) is on managing people within the employer–employee relationship. Specifically, it involves the productive use of people in achieving the organisation's strategic business objectives and the satisfaction of individual employee needs. Because HRM seeks to strategically integrate the interests of an organisation and its employees, it is much more than a set of activities relating to the coordination of an organisation’s human resources. HRM is a major contributor to the success of an enterprise because it is in a key position ‘to affect customers, business results and ultimately shareholder value'. Says Gratton: "The new sources of sustainable competitive advantage available to organizations have people at the centre - their creativity and talent, their inspirations and hopes, their dreams and excitement. The companies that flourish in this decade will do so because they are able to provide meaning and purpose, a context and frame that encourages individual potential to flourish and grow." (...) HRM and management HRM is management, but management is more than HRM. HRM is that part of management dealing directly with people, whereas management includes marketing, management information systems, production, research and development, and accounting and finance. Because the purpose of HRM is to improve the productive contribution of people, it is intimately related to all other aspects of management. Managers manage people, and the
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