Executive Development Program In Human Resource Management

What is Human Resource Management?

Human Resource Management is a type of management function that is related to the acquisition, growth, and maintenance of the employees of a company to help the business achieve its desired goals and objectives.

The goal of HRM is to make the best use of employees’ participation in projects and increase their efficiency, while also achieving individual and organizational goals.
 

Key components that constitute the nature of HRM:

• HRM includes putting management functions and principles into practice: Employees are acquired, developed, maintained, and remunerated using these functions and principles.
• Employee-related decisions must be coherent: Employee decisions must be reconciled with other human resource decisions.
• The effectiveness of an organization is influenced by the decisions made: Customers will benefit from an organization’s effectiveness as the high-quality products are delivered at competitive prices.
• HRM functions are not limited to businesses: HRM functions are not limited to businesses only; they may also be used in non-profit organizations, for instance, education and health care.
   

Why Human Resource Management is Important for Every Organization?

Human resource management is a backbone of an organization. Businesses would be unable to efficiently attract and retain personnel, maintain a healthy and pleasant working environment, align the individual goal with organizational goals to enhance the business performance if human resource management was not in place.
 

Main Functions of Human Resource Management

Human Resource Management serves as a connector between employers and employees, ensuring that both are well-equipped to perform their tasks productively. It plays a critical role in preparing businesses to handle the difficulties of a growing and increasingly competitive industry. HRM’s fundamental objectives are linked to all its functions.
 

Given below are the seven main functions of HR management:

1. Recruitment and Selection - One of the most important HR responsibilities is to recruit individuals and select the best suitable ones to work for your organization. Employees are the life force of an organization, therefore finding the right fit is crucial. It includes determining the requirement for a position, preparing job descriptions, defining the skill set needed in an ideal candidate, establishing pay budgets, advertising to the targeted people, interviewing, and hiring the best candidate. “Onboarding,” also known as “organization socialization,” is a common part of the recruitment process that is usually supported and monitored by human resource management.
    
2. Training and Development - Employees can reskill and upskill thanks to training and development. HR is in charge of training and development to make sure that it contributes towards achieving the company’s long-term objectives. Employees can fill skill gaps and grow into leaders with the help of training and development to be able to give their best to attain the desired targets. Employee training has several advantages for a business. Investing in employees’ growth improves employee retention while also lowering recruitment expenses.
    
3. Compensation and Benefits - Fair compensation is essential for inspiring and retaining employees. In terms of remuneration, promoting equity is one of the cornerstones of human resource management. Making the appropriate pay offer is an important component of attracting top candidates. The budget must be in sync with the company’s balance sheet. The basic pay that each employee receives is referred to as compensation. Employee benefits can include performance-based pay, pensions, family health insurance, paid holidays and sick leaves, and many more. It depends on the company’s budgets and priorities.
    
4. Performance Management - Employees are typically assigned a set of jobs to perform. Employees can get feedback on their work through performance management, which allows them to improve their performance. It is a continuous process that consists of a number of interconnected tasks. In most cases, businesses follow an annual performance management cycle that includes planning, monitoring, reviewing, and rewarding employee performance. Employees can be classified as high and low performers as a result of this approach.
    
5. Succession Planning - Succession planning is a very crucial aspect of human resource management. The practice of preparing for the juncture in case important employees plan to leave the organization is known as succession planning. If a senior manager leaves, for instance, having a replacement on hand shows progression and can save the organization a lot of time and money. Performance rating and training initiatives are frequently used to plan for succession. Subsequently, a pool of qualified people is created who are available to substitute in the event of a vacancy.
    
6. Employer-Employee Relationship - When it comes to employee relations, there are two main functions to consider. To begin with, HR assists in the prevention and resolution of difficulties or conflicts between management and employees. Furthermore, HR helps in the development and enforcement of policies that are fair and orderly across the organization. When an employee has a complaint, whether it’s about pay, benefits, or any other thing, HR may intervene between the employee and employer, assisting in the resolution of any issues.
    
7. Compliance Management- Every HR professional should be up to date on employment law to make sure that the company's policies and procedures are compliant with the most recent regulations. One of the most undervalued aspects of human resource management is the management of compliances. However, that is not the case. In view of the fact that even a minor blunder can impose significant forfeits on your company.
    

What are the Objectives of Human Resource Management?

Human resource management highlights the important problems to be addressed as well as conducts rules and regulations, in addition to accomplishing organizational goals. The aim of HR management is mostly impacted by the goals of the organization. HRM’s main objective is to maintain a stable work environment by centralizing data and ensuring efficient operations.

The top 5 objectives of HRM include achieving organizational goals, creating a stable work culture, keeping up with societal and ethical developments, enhancing employee satisfaction, and enabling team coordination.

1. Organizational Goals - Setting and achieving organizational goals is one of the primary objectives of human resource management. Workforce management, employee hiring and onboarding, payroll management, retirement processing, and so on are just a few of the goals. Things can quickly spiral out of control if there are no defined parameters set for each step. It is not tough to achieve HRM objectives once you create a plan using all the available resources.
    
2. Creating a Stable Work Environment - Employees and work environment are the most important aspects in efficiently managing HRM and meeting objectives. The workplace environment has a significant impact on HR management and business performance. To build a positive work environment start with developing and sustaining healthy and transparent relationships among team members.
    
3. Keeping Up with Societal and Ethical Developments - Human resource management is responsible for making sure that legal, ethical, and social-environmental challenges are appropriately addressed. It must ensure that human resources are dealt with in a formal and compliant manner and that their needs are understood and met, while taking social principles and duty into account. Equal opportunities and equal pay for the same level of work are legal issues that should not be overlooked. Social responsibility concerns include developing jobs, building schools and dispensaries, as well as assisting women empowerment.
    
4. Enhancing Employee Satisfaction - Due to increased worldwide competition, it is more difficult than ever for businesses to find and retain skilled employees. In addition to that, the scarcity of qualified employees makes it an unquestionable responsibility for human resource executives to keep the employees satisfied with the company. Initiatives and policies established by HR for the personal development of employees must be in line with the organization’s goals and objectives. To enhance the bond and boost satisfaction of the employees, rewards and recognition in the form of incentives, a well-balanced work culture, team outings, meals, and other activities must be organized.
    
5. Enabling Team Coordination - One of the main responsibilities and objectives of HR management is to ensure that teams work effectively together. Every person has unique personality traits and values. They all have opposing viewpoints and ideas, which may lead to confrontations. To be efficiently productive, individuals must be able to communicate effectively with one another. As a result, team coordination requires constant monitoring.
    

What are the Essential Human Resource Management Skills?

Employees are said to be the most essential asset of every organization. This is the reason why every business needs competent human resource management. Human resources assist in the team formation, the development of the organization’s culture along with the growth of its employees. HR management contributes to the employee’s productivity to help align with organizational goals and objectives. Human resource management’s functions necessitate a diverse set of skills, including both technical and social competencies. Each person has distinctive skills and thus their contribution to the team is also different from others.

Below are the top 5 essential skills that every human resource executive should possess. These skills include:

1. Communication Skills
2. Negotiation Skills
3. Organizational and Analytical Skills
4. Empathy and Compassion
5. Technical Skills

1. Communication Skills - Communication is without a doubt the most crucial expertise a human resource executive should have. An HR executive must have excellent written and verbal communication skills to perform daily activities — such as conducting interviews, delivering presentations, resolving conflicts, to name a few. HR  professionals interact with plenty of people on a daily basis, from job candidates to senior executives. They are also accountable for making sure that the firm’s rules and regulations are to the point and clear.

2. Negotiation Skills - The ability to handle disputes and negotiate is another crucial skill for human resources. From pay increase to leaves, negotiation is a part of the daily routine in the area of human resource management. It is a never-ending activity. Whenever an employee approaches HR with a concern — such as salary, work hours, job responsibilities, or something else, many a time they assume that they are right and the other person involved is at fault. When conflicts like these emerge, HR mediates the situation by negotiating with the employees, an HR executive is supposed to strike deals that benefit both parties, the firm and the individual.

3. Organization and Analytical Skills - To meet the desired goals, the jobs performed and responsibilities that are undertaken in the human resource department, demand a high level of organization and analytical capabilities. Human resource executives usually use resource management software for a number of activities such as payroll management, staff scheduling, and much more. Business-oriented software simplifies HR management by consolidating crucial data on a single platform.

4. Empathy and Compassion - Empathy is the ability to put oneself in the shoes of another person. This is a very crucial human resource skill that should be practiced by every member of the team. It allows you to get to know people better, comprehend their issues, and come up with ideas to fix them. Being an active listener is one way to demonstrate empathy and compassion towards employees. If an employee expresses concern regarding the working hours, salary, or some internal dispute with management or colleagues, firstly examine the situation from their point of view instead of directly suggesting a solution.

5. Technical Skills - One of the most sought-after human resource management skills is the ability to use modern technologies. Many human resource professionals believe that using planning tools, digital spreadsheets, and online databases to perform their tasks would help them save time and achieve their goals.

Today, there are a variety of HR certification courses available from recognized and reputed institutes to upgrade your career in the rising field of human resources. These courses are designed to boost your HR and management skills and provide you with the knowledge of business and HR strategy planning for creating a business-aligned HR.
 

Scope of Human Resource Management in India

Human resource management is concerned with the welfare of employees. HR planning, hiring, rewards and recognitions, industrial relations, payroll management, training and development, and so on are all included in this. To put it another way, it is about establishing and sustaining cooperative relationships among employees while creating a balance between corporate and individual objectives.

HRM has a broad and extensive scope — expanding day by day. Hence, the scope of HR management can widely be categorized into three aspects:

1. Personnel Management
2. Employee Welfare
3. Industrial Relations
    

• HRM in Personnel Management - This relates to manpower management, recruitment, selection, onboarding process, training and development, remuneration, layoffs and retrenchments, productivity, and much more. The main goal is to determine individual growth, progress, and effectiveness, all of which will be consequently responsible for organizational development. It also covers performance evaluation, the acquisition of new skills, wage distribution, incentives, allowances, and other associated benefits.
   
• HRM in Employee Welfare - This aspect of human resource management is concerned with the working environment and facilities available at the workplace. This encompasses a wide range of tasks and services, including health care, welfare money, social security, and medical assistance. It also involves the hiring of safety officers, creating a healthy and pleasant working environment, obliterating workplace hazards, managerial support from top levels, cleanliness and sanitation, ventilation and lighting, sickness and family benefits, maternity and paternity benefits. Employee welfare entails identifying and meeting employees’ needs through the engagement of both managers and employees. It also looks after canteens, restrooms, transportation, and recreational facilities, among other things.
   
• HRM in Industrial Relations - Because it is a delicate subject, it necessitates cautious engagement with employees or their unions, addressing their resentments, and efficiently resolving disagreements to keep the organization at peace and concord. Understanding labor interactions, joint consultation, problem-solving through collaborative efforts, and conflict resolution are all part of this aspect of human resource management.

The major goal is to protect employees’ interests by ensuring the best understanding possible while minimizing negative consequences for the firm. It is all about supporting and making progress in industrial democracy to protect employees as well as managerial concerns.

There are two options available to pursue your career in human resource management. The first option is to enroll yourself in offline courses and the other option is to get into online courses in HR from one of the leading ed-tech platforms such as Talentedge. Since the Covid-19 pandemic has emerged, multiple renowned institutions have come up with online courses. One such leading institution, XLRI Jamshedpur through the platform of Talentedge is offering an Executive Development Program in Transformational Leadership for you to excel in your career. This course focuses on the critical knowledge, skills, and competencies required for HR professionals to succeed in their domain.
 

Executive Development Program in Human Resource Management

The aim of the human resource management course from XLRI Jamshedpur is to provide HR professionals with a better understanding of human resource theory and techniques.

This course is designed to give you a deeper understanding of employee engagement, employee branding, learning and development, HR analytics, employment law and regulations, industrial relations, to name a few. It will also provide you with the knowledge of the most effective approaches for linking organizational and HR strategies to ensure that individual goals are aligned with organizational goals to enhance productivity and revenue.

Professionals who enroll in the Executive Development Program in Human Resource Management course from XLRI Jamshedpur will get to grasp the underlying concepts of modern business models and make it easier to develop and implement HR strategies that are aligned with future-ready recruitment techniques.

This HR certification course is most suited for working professionals, HR managers, mid-level executives who want to hone their HR skills or planning a career shift in HR.
 

Why Should You Choose XLRI Jamshedpur?

XlRI is frequently listed as one of the top five business schools in India. XLRI Jamshedpur was established in 1949 and is the oldest management institute in India. XLRI is ranked among the top Asia-Pacific institutes for its human resource management studies. Also, XLRI’s business management program is regarded as one of the best in the country.
 

Why Should You Pursue an Online Human Resource Management Course from Talentedge?

Due to the outbreak of the Covid-19 pandemic, the popularity of online learning has expanded like the clappers. There are numerous benefits of enrolling in this online course in HR, for instance:

• Pursuing an online certification helps working professionals minimize the skill gap and remain competitive and progressive in their careers.
• No additional software or installation is required which makes it easier for working professionals to attend classes from anywhere using a laptop or desktop computer
• Thanks to online learning, working professionals can study while keeping their existing jobs and have a perfect work-life balance.

Today, Talentedge offers a wide range of online certification courses in association with some of the world’s most prestigious institutions. The certificates from these institutions are highly valued and contribute to your professional development. Some of the added advantages of these online certification courses are:

• The convenient weekend schedule makes it easier for professionals to attend live lectures while maintaining a good work-life balance
• In a virtual setting, live and interactive learning provide a real classroom experience
• One-on-one doubt solving sessions to give the prompt answers in detail
• A dedicated student and tech support
• Chance to get a certificate from XLRI Jamshedpur on successfully completing the course