Human Resources Management: • “HRM is a process for making policies and procedures and application of these procedures to ensures the best use of organizational resources.” • Characteristics of HRM:: • • • • • • • People Oriented Action Oriented Science as well as art Continuous Function Challenging function Future Oriented Staff function Objectives of HRM: • To act as a liaison between the top management and the employees. • To arrange and maintain adequate manpower inventory. • To devise employee benefit schemes. • To enhance and ensure the quality of work life. • To offer training. • TATA Company is also follow these Objectives. Scope of HRM: • Personal or Labour Aspect: Planning, selection, placement, transfer, training and development, lay offs, remuneration. • Welfare Aspect: Housing, transport, canteen, rest room, health and safety, education etc. • Industrial Relation Aspect: Union-Management relation, collective bargaining, grievance and disciplinary actions. Difference between HRM and PM: HRM PM • Proactive in nature. • Resource centred activity. • Its emphasizes on flexible, open contracts. • View better performance as cause of job satisfaction. • Reactive in nature. • Employee centred activity. • Its emphasizes the strict observance of rules, procedures and contracts. • It consider job satisfaction as a source of better performance. Functions of HRM They have two Functions: • Managerial Function • Operative Function Managerial Functions Planning Organizing Staffing Directing Controlling Operative Functions: Operative Function Procurement Development Compensation Maintenance and motivation Integration Industrial Relation HRM