Main Concepts of HRM

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Staffing System
  • The most valuable tool for workforce management is a well-constructed HR staffing system that meets the needs of your company and its workforce. An effective HR staffing system consists of much more than technology; the human side is equally important. The goals of an HR staffing system are recruiting great talent, developing and retaining your existing workforce, and building your reputation as an employer of choice. Critical elements of an effective HR staffing system range from advertising career opportunities to creating a succession plan.
  • Govindam Business School

Recruitment and Selection
  • A full-cycle recruitment and selection process includes every step between advertising career opportunities, sourcing candidates, and processing new hire and orientation materials. A clear understanding of the job description and qualifications is fundamental to selecting the right candidate "Time invested in thoughtfully planning the recruitment and selection process can make the difference between a good or poor hiring decision."

Compensation and Benefits
  • Monitoring compensation and benefits factors into your HR staffing system. Your ability to attract superbly qualified candidates depends, in part, on your ability to pay competitive wages and offer attractive benefits. "Compensation policy is continuously reviewed to ensure our pay strategies and practices are motivated by competitive salaries and other incentive rewards based on one's ability to contribute to the success of the company."

Researching compensation practices, legislation affecting benefits administration, and the relation of wages to market and labor conditions is essential to maintaining the compensation and benefits section of your human resources department.

Performance Management
  • When you hear the human resources term "performance management," what usually comes to mind is an annual employee evaluation or performance appraisal. However, performance management starts long before the first-year anniversary, and includes all employment actions from communicating job expectations to developing talent for promotion.

A strong performance management program is an important element of an effective HR staffing system. It ensures that employees understand job expectations, performance standards and professional development opportunities. A strong performance management program also recognizes employees for their expertise and contributions, and removes poor performers from the workforce.

Development and Promotion
  • Professional development opportunities range from providing job skills training, to cultivating employees who demonstrate leadership potential. Succession planning involves recognizing and developing talent, and charting a career track based on employees' continued contributions, as well as the company's workforce needs and growth potential. Promotion from within builds a company's reputation inside and outside the workplace. This ensures that employees and prospective applicants perceive your organization as an employer of choice.
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