M1- report about what HRM is and the benefits This report will explain what HRM (Human Resource Management) is and the benefits of it being used correctly. HRM is a faction in an organisation designed to maximise employee performance in the work place and their employee’s strategic objectives. HR’ primary concern is how people within the organisation are managed within the organisation, focusing on policies and systems. HR is responsible for a larger amount of recruitment, training and development, performance appraisal and rewarding. Also HR are there to try to meet the corporate objectives, which normally means making their projected NET profit Mainly HR is about employing the right people, and retaining them:
1. Right numbers
2. Right skills
3. Right place
4. Right time
5. Right cost
6. Right attitude and motivation.
HR do this by planning for the present, the future and the past. With this planning they are trying to predict the coming change, and find ways to overcome it. Also if there is a good HRM the business has better opportunities to expand. This is because the business can use the staff to the best of their abilities. HRM + Managers set the employees targets to reach so that the business can become more cost efficient. If a business is cost efficient they can make the maximum amount of profit possible, because it is not wasting money in other areas of the business. Also, if the employers are happy working there then they will work harder, and make the product/ service at a better quality this means that HRM try to ensure that the employer’s morale is high. If the morale is high, it can also increase the speed at which the workers work at, this will then increase unit production within the business, this means that there will most likely not be a wait on stock, meaning that the company will maximise their profits. If HR identifies areas for development then the business, will be able to expand and sell more products. HR try to ensure that the employers are as friendly and patient with customers as possible, this is so that the company can sell a service/product to the general public, whilst making them feel welcome, this will then mean that the customer will come back and use that service again. This means that HRM are there to ensure the service is of a high quality, and the business has a highly valued reputation. HR try to ensure that the business runs as smoothly as possible, also
