What are the 4 important functions of human resource management?

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What are the 4 important functions of human resource management?

Any company derives its strength from its human resources i.e. its employees. Hence, human resource (HR) management is crucial for the effective functioning of the business. This is especially vital in today’s corporate landscape when companies are becoming more people-centric. 

Effective human resource management can enhance your company’s performance, ensure lower attrition rates and promotes faster organisational growth. Modern human resource management has been further subdivided into individual divisions to allow companies to provide personalised focus for each division.

Read ahead to get a glimpse into the integral functions of the human resource management team in a company. You can also get to know the responsibilities with a M.Sc. in human resource management.

 

  • Design and analysis of company positions

 

Designing a company position is one of the primary functions of an HR team. Job designing can involve chalking out the specifics of the duties, operations and responsibilities associated with a position. The HR team also needs to identify the traits of an ideal employee who would be perfect for the job.

Job analysis includes preparing an in-depth report about the requirements for the job such as the skills, work experience and qualifications required for the job. The HR team also needs to identify the day-to-day actions of the job along with its growth prospects. 

 

  • Employee recruitment and selection

 

Once the HR team has nailed down the specifications for the position, their next responsibility is to recruit a suitable candidate for the job. Employee recruitment is another primary HR management function and is important for taking the company forward. Hiring the right employees can also enhance the company’s work culture and promote its image in the market.

Employee recruitment can involve comprehensive screening tests and processes to filter out the suitable candidates from a larger pool. HR personnel may also design further interview or screening rounds for the short-listed candidates to ensure the choice of the right person for the job.

 

  • Orientation and induction

 

Once the right candidate is selected for the role, the HR team has to ensure that the new employee is familiar with the company’s rules and regulations. The HR team regularly holds company induction and orientation sessions for their new employees to make them feel welcome and introduce them to their teams and superiors. Orientation sessions can also clear the employees’ queries regarding the company and its different operations.

 

  • Payroll and benefits

 

Employee compensation and financial benefits form one of the most significant expenditures for a business. The HR management team is saddled with the responsibility of designing attractive compensation and benefits packages which can attract new talent yet not disturb the financial status-quo of the company.

HR management can also include making new operational policies and decisions regarding the employees and maintaining decorum in the office. Apart from these responsibilities, HR personnel are also charged with ensuring employee satisfaction in the company and addressing employee grievances. 

A skilled HR team can make the workplace appealing to the employees and boost their productivity. Invest in a HR management course today to start your career in this exciting domain.