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Human Resource Management
Human Resource Management (HRM) is a business function that improves human resource (HR) tasks and responsibilities. It helps businesses achieve their organizational goals, such as recruiting new employees or administering employee benefits. HRM involves making decisions and implementing practices that impact all the people working for an organization. This might include improving employee orientation procedures so new hires acquire the skills required to complete a job role. Or it could incorporate new employee benefits such as flexi-time or paid maternity leave.
What Small and Midsize Businesses Need to Know About Human Resource Management
While SMBs don't have the same HR resources as larger companies, HRM remains an important concept. For example, it can help a small retailer improve personal employee development by investing in diversity, equity, and inclusion (DEI) training for its employees.
Related terms
- Absence Management
- Furlough
- Onboarding
- Attrition
- Right to Work
- Employee Self-Service (ESS)
- Background Check
- Equity Theory
- Performance Management
- Diversity and Inclusion (D&I)
- Gamification
- Center of Excellence (COE)
- Succession Planning and Management
- Workforce Analytics
- Performance Improvement Plan (PIP)
- Employee Resource Group (ERG)
- Chief Human Resources Officer (CHRO)
- 9-Box Model
- Enterprise Applications
- People Analytics
