Why is it Important to Study Human Resource Management?

Human Resource Management is centered around developing a strategic approach to find, train, recruit and retain the right professionals, for the right job, and at the right time, such that they become future leaders to further the organizational goals, keeping in mind the company’s most important asset – IT’S PEOPLE.

When you undergo a management course, one of the core functional areas for you to study is that of human resource management. Why is it 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.

Human Resource Management 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 HR management.

Also Read : Why Should I Choose a Career in Human Resource Management

Human Resource Management 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.

Also Read: Dimensions of Human Resource Management

Human Resource Management 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 a human resource management course and realize the multiple layers that the function has.

Human Resource Management 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.

Also Read: Post Graduate Certificate in Human Resource Management (HR)

These are some core reasons for studying human resource management. In its entirety, it ties up with the overall organizational strategy and purpose.

Now that you have studied, or are planning to study Human Resources, the following are some career scopes in this field.

Career Scope in Human Resource Management

Human resource management plays a crucial role in any organization and has a range of functions that it undertakes. The scope of HR is vast and diverse, as well as hugely impactful. To comprehensively know about its entire scope, all the disciplines, and subdisciplines, one must pursue any of the credible human resource management courses. Going through those will give you insights not only into the theories that define the human resources framework but also the application of those concepts.

Let us take a closer look at two core scopes that form a part of the human resource management area and get familiar with them.

Learning & Development to Facilitate Recruitment Satisfaction

Human Resources management has the crucial role of managing learning and development in an organization. Its scope covers re-skilling and upskilling the workforce on all types of behaviours as well as skills, as well as the assessment of the gaps that exist from a learning level perspective. Human Resources also needs to work closely with the various departments, functions, geographies and the business or leadership teams to be able to better identify which skills can have a positive impact on business growth.

The talent development segment which is a specific area that focuses on grooming identified high potential employees is an extension of this scope. Even Leadership Development which is now a separate area in itself has emerged from this discipline, wherein the focus is to design and implement interventions that are needed for leaders.

Rewards and Recognition to Improve Employee Performance

This is a vast scope for human resources since it covers rewards in both forms, compensation, and benefits, but also recognition in its intangible form which is recognition. HR works in designing, reviewing, and benchmarking the organization’s rewards and recognition practices as against the best ones in the market. It also has the crucial role of managing the connection between variable pay or bonus, its link to performance, and business results.

Also Read: All About Building a Career in HRM

The structure of rewards differs from role to role, and level to level as well in some organizations. HR manages these differences to ensure that there is general internal equity and alignment across the board. For recognition too, human resources work on dealing with many programs that the organization has, designing new ones, and evaluating their effectiveness or results from time to time. They have a link to employee motivation which cannot be ignored.

These are details of two areas in human resource management’s scope, which are of great importance. HR carries out these functions in conjunction with the others and makes sure that there is a connection between these and the business goals.

In retrospect, studying HRM can prove to be highly rewarding and lucrative. Now you know about the career scope of HRM and how important it is to explore every aspect of the domain in-depth. But apart from this, are there any additional benefits of studying human resource management? Why should you be pursuing an online HRM course? Let’s find out!

Benefits of Studying Human Resource Management

1. Acquire a Universal Skillset

Every organisation needs strong HR professionals with in-depth understanding and knowledge of what they are expected to do and how they are going to do it. This is why you should study human resource management. It can help you gain exposure to every aspect of HRM along with the challenges you’ll face and how to overcome them. The skills and knowledge you’ll acquire while studying human resource management will be relevant across every business type and sector.

For instance, an online certification course in human resource management from TalentEdge can help you understand the fundamentals of HRM, its interface with other functions, tools & techniques, the role of HR, the global standards, etc. These courses are designed to provide 360-degree knowledge so every participant receives a well-rounded education and can lead the HR world.

2. Job Diversity

HRM is a domain that encompasses several smaller disciplines. For instance, while scouting for a job, you can look for a role of a recruiter, an HR BP manager, relations management, employee engagement, learning and development, etc. Moreover, you can land a job in any industry or domain as every organisation needs to hire an HR professional. So anything ranging from finance, sales, marketing, manufacturing to IT and media comes under the purview of HR job opportunities.

Also Read: Executive Development Program In HR Analytics From XLRI

What’s more, studying human resource management opens the mind and doors, and not just in the field itself. The subjects you study and the expertise you gain will help you explore opportunities beyond HRM. Managing personnel and client relations, for instance, is an essential skill that you’ll pick up during the course. And this is one of those HR aspects that you can apply to any job role.

Other valuable skills you’ll learn will include leadership, management, organisation, multitasking, reporting, communication, etc.

3. Job Satisfaction

There may be a hundred different things you expect from your career, but job satisfaction is the one common thread that binds every employee in the world.

Satisfaction with work is the most vital factor for employees while choosing a job, and there is plenty of it in the HR domain.

Of course, it depends on the organisation you are working in, but most HR professionals are valued no matter what the market scenario may seem. Even in a junior-level position, you’ll sense satisfaction in terms of compensation, flexible working hours, and timely promotion. In addition, you’ll be able to witness the direct results of your efforts and measure them to showcase the significant impact you’ve made on the workplace.

4. Stay Up to Date with the Current Developments in HR

HR is a rapidly evolving domain focusing on shifting from administrative tasks to strategic input and having a seat at the management table. This is facilitated by the progressing needs of current organisations and technology, enabling efficient processing and onboarding of employees, budgets, and other HR activities.

Apart from HRM, professionals aspiring to thrive in this domain also need to understand business strategy. They need to understand what drives an organisation towards success, what that success looks like, and how to engage and motivate employees so they can adapt to the constantly changing business environment.

Also Read: Postgraduate Certificate In Human Capital Leadership

To do all of this effectively and more, you must study HRM. Whether you choose to pursue an online course or enrol for a regular MBA program from a brick-and-mortar university, studying human resource management is the key.

5. Plethora of Opportunities

The global HRM market size is expected to grow at 10.4% and reach $30 billion by 2025.

These stats clearly show the need and importance of human resource management professionals. And experts are anticipating that this demand will only grow in the coming years as organisations will need more HR managers, considering the complexity of today’s workforce.

HR managers will also be required to oversee complex employment laws, adhere to the safety and health compliances laid down by the government in the wake of Covid-19, ensure equal employment opportunity, healthcare, wages, retirement plans, etc. And these tasks are performed by trained professionals, which means while studying human resource management, you must prefer to specialise in any one of these areas.

This, combined with the escalating need for managing a diverse workforce, will fuel the HR market growth, leading to increased job opportunities.

6. Master the Art of Conflict Resolution

Conflicts in the workplace are inevitable. They may arise due to differences in opinion, personalities, work ethics, lifestyle, culture, etc. However, as an HR professional, it will be your responsibility to resolve them with all involved parties satisfied.

While pursuing an HR online certification course, you’ll learn how to handle conflict in the workplace and resolve it. You’ll also learn how to handle the situation as professionally and effectively as possible. It doesn’t matter whether the conflict arises between two colleagues or with the management; as an HR professional, you must be able to assist both parties impartially and not choose sides.

7. Learn How to Improve Employee Turnover

As an HR professional, no matter the level you are at, an essential part of the job will be to improve employee turnover. You’ll be responsible for motivating, inspiring, and engaging the employees to work towards the common goal of the organisation. If not done right, the attrition or employee turnover will hurt the company’s bottom line.

It costs 2X as much as the current employee’s salary to recruit and train a new hire.

So as an HR professional, you must know how to hire the right people, to begin with. Interview candidates carefully, screen them based on the skill set and not their age, gender, or ethnicity. Also, check whether they’ll be able to fit into the company’s culture. You must highlight the compensation and benefits your organisation will offer.

Also Read: Executive Development Program In Human Resource Management From XLRI Jamshedpur

Apart from this, you’ll also be required to pay attention to the employee’s personal needs, whether in terms of growth within or outside the company. So do you think you’ll be able to handle all these tasks without studying human resource management?

8. Be Better Equipped to Budget and Control

Not just for recruitment, HR professionals also need to define the budget for other specific tasks like annual pay, appraisals, employee welfare/engagement, training, reward and recognition, etc. Apart from this, you’ll also be required to closely study the labour market and analyse current trends based on job functions.

Performing these jobs and thriving while doing it needs an advanced skill set, which you can gain by studying HRM. A course in HRM can help you develop a strategic approach to recruitment, training, analysis, and every other intricacy of HR. Moreover, you’ll gain exposure to the design, process, and execution of such strategies in a global scenario, so that’s another one of the benefits of studying human resource management.

Career Opportunities After Studying HRM

Now you know that HRM can be a rewarding career for those who have the right knowledge, expertise, and experience in the domain. The next set of obvious questions that come to mind are “what will I do?”, “What type of jobs can I land?”

Let’s try and answer these for you.

Typical Jobs You can Land After Studying Human Resource Management

Human Resources Assistant

As an HR assistant, an entry-level job, you’ll be responsible for processing personnel and position actions in the HRM system. Personnel actions encompass documentation of personnel changes, such as hiring, promotions, salary hikes or terminations, etc.

These actions may change depending upon the organisation’s operations and expansion plans to include reclassification of a new role, changes to the pay grade for a particular position, or eliminating a position altogether from the organisation. As an HR assistant, you’ll also be responsible for:-

Maintaining employee records
Filling all required documents
Maintain records of retention schedules
Salary administration
Payroll and benefits administration

Payroll Specialist

As the name suggests, payroll specialists are responsible for managing everything related to payroll ranging from employee deductions, payroll schedules to salary administration policies.

Also Read: The Ultimate Guide to HRM: Covering the Basics

As a payroll specialist, you’ll be expected to have in-depth knowledge about the payroll process, including the administration of income taxes, benefits deductions, allotments, and other deductions as per government laws. Also, you must know how to process files for retirement accounts, such as pension plans and 401k accounts.

Of course, a well-rounded education is key here, which is why you must enrol for a credible online HR course. TalentEdge, a reputed Edtech platform, offers comprehensive courses covering every aspect of HRM, ranging from fundamentals, organisational culture, planning, talent management, reward & recognition to strategic management and payroll. So if you are striving for 360-degree knowledge in HRM, TalentEdge is the ideal choice.

Training Coordinator

That’s right; HR professionals can also enter the training and development domain. As a training coordinator, you’ll be required to develop and deliver training programs after a thorough analysis of every employee’s performance and career needs. Based on this analysis, you’ll suggest learning & development programs that can help employees hone their existing skills as well as acquire new market-ready skills.

These programs can include traditional, instructor-led classes, contemporary online sessions, or a combination of both. Subjects may vary depending upon the job role and specification of responsibilities the employee is required to perform.

Compensation Specialist

As a compensation specialist, you’ll be responsible for managing an organisation’s salary administration policies, including establishing pay and compensation plans, recommending such plans, reviewing and managing job descriptions to ensure classification and compensation is appropriate or as per industry norms, etc.

The best part about landing this role is that you can also end up in the research and analysis domain as a compensation specialist. You’ll be conducting a deep analysis of the labour market to ensure the organisation offers competitive salary and compensation packages. This role is imperative because if the organisation is offering too low, it’ll lose top talent, and if it is offering higher than the industry trend, it’ll end up wasting money. And because of the criticality of the job, the average salary packages of a compensation specialist are highly lucrative.

Training Manager

As a training manager, you’ll be responsible for establishing the training and education curriculum for employees of the organisation. You’ll also be required to manage a team of coordinators and instructors from within and outside the organisation. Your responsibilities will also include managing resources for instructor-led training, including facilities, training material, scheduling sessions and instructors, communicating the same to the employees, etc.

Also Read: Executive Development Program In Leadership & Change Management

And to do this, to be able to conduct your duties effectively, you need to train and study HRM extensively. A brush up of the topic won’t suffice. If you strive to build a lucrative career in this domain, you need to learn how to administer the learning management system and deliver training or online programs to employees based on their career goals and improvement areas.

So to reap the maximum benefits of studying human resource management, enrol for an online course from an accredited university. For instance, TalentEdge platform offers online courses in HRM that are accredited and delivered by renowned institutions like XLRI, eCornell and IIM Raipur. So after successful completion of this course, you’ll not only be awarded with a certificate of completion from one of these institutes but also be equipped with the advanced knowledge you’ll need to land a rewarding job.

HRIS Specialist

As an HRIS specialist, you’ll be responsible for implementing, maintaining, and supporting technology resources used for HRM. This role may require you to get acquainted with software like applicant tracking systems, performance management systems, payroll processing systems, etc.

Your primary responsibilities will include researching, recommending, and implementing technology solutions to support employees along with training them on how to use these systems. This job encompasses a technical quotient so you not only need to have prowess in HRM and its aspects but also a practical understanding of these softwares.

Employee Relations Manager

What does an employee relations manager do? Well, isn’t that evident from the name itself? Employee relations managers manage conflict between employees. These may include addressing employee grievances, arbitrating conflicts, conducting exit interviews, and assisting managers with building employee relationships.

Your responsibility, as an employee relations manager, will also include ensuring compliance with applicable laws and regulations concerning behaviour in the workplace. You’ll need to lay down rules, instil workplace policies to ensure a conflict-free environment, and communicate the same to the employees. And not just that, you’ll also need to make sure that everyone in the organisation understands these policies and adheres to them at every cost.

Compensation and Benefits Manager

Do you want to contribute to the decision making of every employee in the organisation?
Would you like the authority of having a say in what salary should an employee get and whether it is according to the industry norms?

If so, then a job as a compensation and benefits manager is the ideal career for you. As a compensation and benefits manager, you’ll be responsible to establish pay and benefits structures for every employee. Other duties may include:-

Overseeing distribution of the compensation and benefits
Shortlisting and working with insurance companies, investment managers, and other benefit partners
Providing pay and benefits information to employees
Monitoring the pay competitors are offering

You’ll need strong leadership, analytical, and negotiation skills to coordinate staff activities and become the decision-maker your organisation is expecting you to be. The best part? You’ll earn an excellent income in this role!

Human Resources Manager

As a human resource manager, you’ll coordinate, plan, and oversee several HR department functions. Your primary responsibility will be to ensure that your organisation is compliant with employment laws, provide competitive compensation & benefits programs, develop employees, and manage employer-employee relationships.

Also Read: The Functions of Human Resource Management

However, performing these tasks is not a walk in the park; you’ll need extensive experience and hands-on practical knowledge of the industry, along with an understanding of the best practices and applicable regulations for hiring, developing, and retaining human capital.

This is where an online HR certification course can come in handy. However, look for courses that can provide you access to LIVE & synchronous learning rather than pre-recorded lectures. For instance, TalentEdge is one such platform that offers LIVE & interactive sessions. And that’s not even the best part – the sessions are purely focused on building practical knowledge and experience of the learners and not theoretical aspects. YES, that’s what you want!

Chief HR Officer

If you want to reach the apex of the HR food chain, this is your way in. Excellent income, key decision-making power, and managerial responsibilities, all in one single role – chief HR officer.

However, as lucrative as this position sounds, it requires in-depth knowledge about your organisation’s HR strategies, policies, and goals. Some of your typical duties will include:-

Leading and supervising HR managers
Communicating HR efforts to support and implement the strategic vision of the company
Functioning as a business advisor to the CEO and other top-level executives
Developing strategies for recruitment and retaining employees
Developing compensation and benefits plans for every job role. Well, not so much as creating, but approving.
Overseeing career development, training, and leadership development programs

HR Analytics Specialist

Trends are evolving rapidly due to the aftermath of Covid-19. Once what used to be sufficient compensation is no longer a norm considering the 24*7 work models companies are adopting. Collaboration and communication now have a new meaning. Apart from this, several other trends have surfaced since the pandemic.

Also Read: Top 6 HR Management Courses

This is where the role of an HR analyst comes into play. Ranging from the cost of hiring, training, promoting to current industry trends, everything comes under an HR analyst’s purview. Your typical responsibilities will include:-

Researching the amount of income generated per employee
Helping HR managers improve the organisation’s talent acquisition strategy
Monitoring training expenses and efficiency
Watching out for trends that may affect your organisation’s HR processes
Measuring employee attrition rate to improve recruitment and workplace environment
Making recommendations to HR managers about competitor’s compensation packages, employee feedback, training requirements, etc.

An online HR certification course can help you upskill in this domain. These online courses are designed to provide you with practical knowledge that you can apply to your job, ensuring exceptional performance, recognition and appreciation from the company.

For instance, the short-term HR online course from XLRI not just helps you build your people management skills but also provides exposure to nearly every facet of HR, ranging from staffing, recruitment, learning & development, compliance, technology, data to HR analytics. So you’ll receive a well-rounded education and be prepared to overcome the complex challenges of a global workforce.

What Will You Do as an HR Professional?

HR professionals deal with the most uncomfortable aspect of work, including HR violations, firing, and layoffs. However, the truth is that HR is there to support the EMPLOYEES. The name itself suggests a “resource for humans”.

Keeping that in mind, here’s a list of the most typical tasks you’ll be performing on an everyday basis. Of course, these may vary depending upon the role you are in, but you’ll get a fair idea.

Recruit Candidates

As an HR recruiter, you’ll be required to understand the organisation’s hiring needs and ensure those are met when recruiting for new positions. It’s not as simple as running a social media campaign on Naukri.com or Indeed; you’ll need to analyse the market, consult stakeholders, and manage budgets.

Once the role is out there on social networking websites, more research needs to be conducted to ensure you entice the right type of candidates. Recruiting is one of THE most costly processes in an organisation; the right candidate can really make a difference when it’s time to upend operations.

Also Read: Why is it Important to Study Human Resource Management

Intrigued to learn more about recruitment strategies or why you should be studying HR management? Well, the online HR certification course from XLRI is here to help you do just that. Boasting an extensive curriculum delivered in LIVE & interactive sessions is one of the numerous USPs of this program.

Hire the Right Employees

The right workforce is the key to the success, growth, and development of the organisation. Ask the ones who hired the wrong ones, they’ll tell you.

This is why the HR professionals are in charge of sifting through a massive number of profiles to find the right candidate, one that can fit into the company culture and adapt to the working environment. Ranging from arranging interviews, to coordinating hiring efforts and final onboarding, everything will come under your purview.

Studying HR management from a practical standpoint is what can help you carry out these tasks without a hitch. Whether you choose to pursue an offline degree program or an online one, a certification in HR management can significantly broaden your knowledge in this domain.

Process Payroll

Payroll is a beast on its own. This is why there is a separate sub-department in HR that handles compensation, taxes, expenses, bonuses, etc. If you get to work in this profile, you’ll be responsible for handling expenses that need to be reimbursed, raises, bonuses, and taxes. You’ll also be tasked with ensuring proper deduction for every employee in every pay period. It’s not as straightforward as it seems.

Also Read: Post Graduate Certificate in Human Resource Management (HR)

Needless to say, you need advanced skills and training and not just in taxation laws or compliances but also software and tools you’re going to be using to get the job done. The ideal way to learn and acquire the requisite skill set is via an online certification course in HR. These online courses are designed to offer you practical, hands-on knowledge of every facet of HR. This means on Day 1 of your course, you’ll not be learning about the characteristics of HR rather the trends you need to watch out for or maybe a software tool you can leverage.

Conduct Disciplinary Actions

This responsibility is why most people hate HR. However, someone has to do it; someone has to keep employees in check, ensure they are not acting outside the lines of the moral conduct of the organisation and take disciplinary action when someone behaves inappropriately.

For instance, if HR notices that a particular employee has made it his/her routine to be late every day even after receiving several warnings, they step in and investigate the reason for the tardiness. The HR may offer him/her additional resources to help the employee learn to be on time or perhaps even counselling in extreme cases.

Also Read: How Human Resource Can Helping Business with Talent Acquisition and Management?

Why is this important? Because instead of taking the attrition (also known as the cost of firing), this could be a learning opportunity that could enhance the employee in question’s career.

Simply put, it is up to HR to develop a strong relationship with top, middle and low management/employees alike and identify themselves as allies of the team, not a hall monitor.

Update Policies

The HR department is the one to process, implement and communicate any organisational changes. And due to Covid-19, this responsibility has taken up most of their time. So you can expect this to be a significant part of the new normal.

It is the HR’s job to make official updates and suggest changes to the policy when they feel like existing ones are no longer serving the company or the employees’ purpose. Sometimes a policy is updated as a reaction to the occurrence. For instance, if a female employee is not feeling comfortable around the workplace due to lack of security, maybe the organisation can install CCTV camera’s or appoint security guards to maintain decorum. And some policies are implemented to keep the changing business environment; for example, the introduction and promotion of online collaboration tools have become imperative since Covid-19 and work from models.

Maintain Employee Records

As an HR professional, you’ll also be required to maintain employee data for every new hire. These records are not just for filing purposes but also helps identify the skills gap to help with the hiring process, analyse demographic data and comply with regulations. Furthermore, these records contain personal information like emergency contact details in case there arises a need to contact one.

Also Read: Challenges of Human Resource Management

Practically, you can’t be great at every aspect of HR management. However, what you CAN do is choose a speciality, upskill, and keep the learning graph growing. You can enter domains or volunteer on projects wherein you feel like there’s an incredible learning opportunity. Start by enrolling for an online HR course from an accredited university like XLRI or IIM Raipur. Do you know who offers credible online HR certification courses from XLRI and IIM Raipur? TalentEdge, a reputable Edtech platform that offers LIVE & synchronous learning rather than pre-recorded lectures.

Benefits Outweighed!

Studying HR management most definitely has its perks – and not just professionally. You get well-versed with people management, communication, reading people, etc. Moreover, it’s a lucrative career. Here’s what researchers are predicting about HR in the coming years.

By 2029, employment for HR managers is expected to grow by at least 6%, which is faster than the average for all occupations.

So what do you want to do? Do you want to wait around, switch to another speciality, or do you want to be the one who takes the leap and upskill yourself? Well, if you do decide to upskill, consider enrolling for the online certification course in HR from IIM Raipur or XLRI, which are considered to be the best courses online for HR professionals. These courses are designed to help learners like you upskill not just your practical knowledge but also skillset and technological acumen.

So what are you waiting for? Scout the internet TODAY, enrol for these courses, and make your way to a lucrative career in HR!

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