When you undergo a management course, one of the core functional areas for you to study is that of human resource management. Why is so critical to study this? Should it not be easy to simply know how to interact and manage people? Easy as it might sound, this is possibly the most complex role of all. There are human resource management courses which share how the role has evolved in the past several years and the kind of impact it has on business. Being aware and knowledgeable about the same is the reason why one needs to study human resource management.
It not only helps you work on the theory but also enables you to discover your own style of managing people. Here are some big reasons as to why you should study this area of management.
- It applies to all businesses and geographies – While compliance-related elements may differ, the principles and concepts, as well as people processes within human resources will apply to all kinds of businesses as well as geographies. You can use the foundational knowledge you have acquired no matter what kind of business your organization is in or even whichever country you are based in. There is definitely a need to contextualize it to the local scenario or the specific business challenges, but at the base and broad level, most of the principles remain the same.
- It enables you to understand all stakeholders – Unlike what most people think, human resource management is not just about the employees or workforce. HR management is connected even to stakeholder management, where the human resources team is often working in sync with the leadership teams. HR also looks at processes that could apply specifically from a policy point of view, for external partners like the vendors. It is also entrenched in managing relationships with campuses where the organization brands itself as an employer. So this knowledge comes only when you study human resource management and realize the multiple layers that the function has.
- It gives you insights into the biggest competitive advantage – In the years to come, it is going to become even more evident that people are the biggest competitive advantage and differentiator for any organization. Any other functional area cannot give the same depth and insights in terms of what the power of this resource is. Only the knowledge of human resources can be of use here.
These are some core reasons for studying human resource management. In entirety, it ties up with the overall organizational strategy and purpose.