HRM - What is Human Resource Management ("HRM")?
You often see phrases like these in the annual reports of major businesses:
- “Our people are our greatest asset”
- “Nothing is more important than our employees”
You see them so often that it is tempting to treat them as clichés. However, behind the cliché lies an important truth, which is that the human element plays a major part in the success of every business.
Effective human resource management has become more important in recent times. Here are some reasons why:
- Most businesses now provide services rather than produce goods – people are the critical resource in the quality and customer service level of any service business
- Competitiveness requires a business to be efficient and productive –…