Human Resource Management is currently the most popular function. This is because people provide a business with a competitive edge, and HRM is responsible for managing people. When an organisation is the only one that can supply a product at a price and quality that its rivals cannot, it has a competitive edge.
In the corporate world, rapid changes are occurring. Not only must an organisation be able to absorb these changes at a faster rate than in the past, but it must also be able to justify its existence in the changing commercial environment. All companies, large or small, must guarantee that they have competent personnel who are capable of meeting this task. Human resource management is a newer term that entails a collection of concepts and techniques for managing people. Any organization's most precious resource is its people, because it cannot function without them.
People Resource Management has grown to be regarded as an integral element of management that deals with an organisation’s human resources. Its goal is to maintain stronger human relations in the company by developing, implementing, and evaluating human resource policies, processes, and programmes in order to maximise their contribution to the achievement of organisational goals.
In other words, HRM is focused with achieving better results via people's participation. It is an important but distinct aspect of management that deals with people at work and their interactions inside the company. HRM aids in the achievement of maximal personal growth, a desired working relationship among workers and employers, employees and employees and effective modelling of human resources in comparison to physical resources. Human resource management refers to the organization's recruiting, selection, development, use, remuneration and incentive of employees.
