HUMAN RESORCE MANAGEMENT IN GLOBAL CONTEXT

 Recruitment in HRM             Figure 1 :Recruitment in HRM Human Resource Management, otherwise known as HRM or HR for short, is the function of people management within an organization. HR is responsible for facilitating the overall goals of the organization through effective administration of human capital — focusing on employees as the company's most important asset. Recruitment is the first step in building an organization's human capital. At a high level, the goals are to locate and hire the best candidates, on time, and on budget. What does recruitment involve?                   Figure 2 :Recruitment process While the recruitment process is unique to each organization, there are 15 essential steps of the hiring process. We’ve listed them here, but for a detailed exploration of these steps, check out our page on Hiring process steps, Identify the hiring need Devise a recruitment plan Write a job ...

  Talent Management                        Figure 1 :Talent management Talent management is defined as the methodically organized, strategic process of getting the right talent  onboard  and helping them grow to their optimal capabilities keeping organizational objectives in mind. The process thus involves identifying talent gaps and vacant positions, sourcing for and  onboarding  the suitable candidates, growing them within the system and developing needed skills, training for expertise with a future-focus and effectively engaging, retaining and motivating them to achieve long-term business goals. The definition brings to light the overarching nature of talent management – how it permeates all aspects pertaining to the human resources at work while ensuring that the organization attains its objectives. It is thus the process of getting the right people  onboard  and enabling them to enable th...

Learning & Development            Figure 1 :Learning and development in HRM A specialized HR function, learning and development (L&D) is defined as the process of empowering employees with specific skills to drive better business performance. They may be upskilled to perform better in their existing roles or reskilled to take on new roles in the organization and fill the skills gap that is becoming common in the workplace these days. Performance is just one of the intended outcomes of L&D – it also has several other benefits, such as employee satisfaction, future-proofing your business, enhanced employee experience, and increased retention. Typically, L&D is categorized as part of a company’s overall talent management strategy, where learning is used as a means to acquire, nurture, maximize, and retain talent. Different between learning and development          Figure 2 :Different between Learning and development...

  Compensation and benefits                                              Figure 1 :compensation & benefits Compensation and benefits are crucial functions of human resource management. A rewarding compensation and benefits plan attracts high-performing candidates and helps foster staff motivation, retention and a positive workplace experience. Differences between compensation and benefits              Figure 2 :Difference between compensation & benefits Compensation Compensation is the money an employee receives in exchange for their labor, which could be a salary, wages,  commission, and bonuses. This money is subject to taxation. HR uses compensation to attract top talent and boost retention rates. Figure 3 : compensation system Benefits Benefits are extra perks or rewards that an organization pro...