Ayan answered on
Nov 29 2023
Table of contents
Task 1 3
Evolution and Purpose of Human Resource Management 3
Evolution of Human Resource Management 3
Purpose of Human Resource Management 3
Objectives of Human Resource Management 4
Key Operational Functions of Human Resource Management 5
Task 2 7
Key Strategic Functions of the Human Resource Department 7
Relationship between HR Department and Business Strategy 9
Factors Affecting HR Management 11
Measuring HR Department Effectiveness 13
The purpose of this paper is to examine key facets of human resource management (HRM) in the framework of our multinational corporation. It offers insights into the goals, evolution, and core operational facets of HRM, all of which are crucial for comprehension and possible future engagement in the HR department.
Evolution and Purpose of Human Resource Management
Evolution of Human Resource Management
The history of HRM is centuries old, having undergone a dramatic transformation from its Industrial Revolution roots to its modern strategic function (Azizi et al., 2021). Originally called personnel management, its main areas of concentration were labor relations at the plant level, compliance, and administrative duties. Due to the need to manage an expanding workforce
ought about by the Industrial Revolution, basic HR procedures were developed. Strategic planning became a part of HRM's job, which grew beyond record-keeping as industries and labor regulations developed. This change was characterized by a move toward acknowledging staff members as important resources necessary for the success of the company. During this time, ideas like job analysis, training, and basic employee welfare programs were developed. In the present day, HRM has evolved from transactional positions to that of a strategic partner for businesses. Globalization, shifting labor demographics, and technology improvements have all fueled its evolution. In order to achieve sustainable growth, HRM is leading the charge in coordinating human resources with corporate goals and promoting a people-centric strategy.
Purpose of Human Resource Management
In the context of a multi-national company, the purpose of HRM is multifaceted and pivotal:
· Strategic Alignment: HRM acts as a link between human resources and organizational strategy. By ensuring that employees are in line with the organization's global goals, strategies, and values, it creates an atmosphere that makes these goals possible.
· Recruitment and Retention of Talent: HRM is in charge of drawing in top talent worldwide. Beyond only hiring new employees, its goals also include developing employer
ands, putting creative hiring techniques into effect, and fostering an inclusive culture to keep varied talent.
· Employee Development: HRM is essential to fostering the professional development and advancement of employees (Hamouche, 2023). It encourages ongoing learning, adaptability, and creativity among staff members through specialized training programs, leadership initiatives, and career progression possibilities.
· Employee Engagement and Satisfaction: HRM aims to establish a pleasant work environment that promotes employee satisfaction and engagement. It places a strong emphasis on efforts that support work-life balance, open communication, and feedback systems, all of which improve productivity and retention.
In a multinational corporation, HRM serves a role that goes much beyond simple administrative duties. It is a strategic enabler that optimizes human capital's potential to promote innovation, organizational success, and long-term, sustainable growth on an international level.
Objectives of Human Resource Management
· Talent Acquisition and Retention: The main goal of HRM in a multinational corporation is to strategically find and keep elite talent. It entails putting strong recruiting tactics into practice, making use of a variety of sourcing channels, and developing employer
anding campaigns in order to draw in qualified candidates that share the company's global vision and values. In order to lower turnover and keep top performers on staff, retention techniques include developing a stimulating work environment, providing competitive benefits, and encouraging career growth possibilities.
· Employee Development: HRM places a high priority on the ongoing training of its personnel. In order to fulfill the changing demands of a global workforce, this goal entails creating and executing extensive training programs, leadership development projects, and upskilling opportunities. HRM makes sure that workers have the knowledge and abilities needed to succeed in a variety of jobs within the company through these activities.
· Strategic Workforce Planning: Strategic workforce planning is a critical goal of HRM in a multinational corporation. This entails projecting personnel requirements across various geographic regions, matching worker competencies to company plans, and foreseeing skill shortages to guarantee a long-lasting talent pipeline. In order to make educated judgments regarding the organization's future labor needs, HRM examines market trends, demographic developments, and technology improvements.
· Employee Engagement and Satisfaction: HRM works to develop an environment at work that is inclusive and positive, which promotes high levels of employee engagement and satisfaction (Anwar & Abdullah, 2021). This goal includes programs that support employee participation in decision-making, encourage open communication, acknowledge and reward accomplishments, and maintain a positive work-life balance. Happy, contented workers are typically more creative, productive, and dedicated to the company's objectives.
· Diversity, Equity, and Inclusion (DEI): In a multinational corporation, em
acing diversity, advancing equity, and encouraging inclusion are essential goals of human resource management. HRM supports programs that honor diversity in gender, culture, and background in order to create a welcoming environment where each worker is treated with respect and worth. DEI programs promote innovation and improved decision-making inside the company while also being consistent with moral standards.
· Adaptation to Globalization: HRM adjusts strategy to the benefits and difficulties
ought forth by globalization. This includes developing HR policies and procedures that are in line with various cultural norms, managing cross-cultural teams, and comprehending the various labor laws and regulations that apply in various geographic areas. HRM ensures compliance with international norms and laws while navigating the complexity of a global workforce.
Key Operational Functions of Human Resource Management
Several crucial areas are covered by the main operational responsibilities of...