Most companies still value their human resources. Do you believe in the broader human resources definition? If yes, you want to manage and nurture your company’s human resources. It can be challenging.
The human resource (HR) will strongly influence your company’s work culture. You must develop, reinforce, and transform it from time to time. You will have a happy bunch of employees.
The guide below will give you detailed insights into managing your human resources better.
Human Resources Management: What Is It All About?
You can define human resource management in many ways. Most people define it as the activity of hiring new employees or managing the existing ones, or both.
But in the current context, managing human resources also involves other aspects. Some of them are training the new or existing staff members, maximizing their performance, ensuring employee engagement, and more. In broad terms, these aspects, plus those mentioned above, constitute human resources management.
Planning human resources or selecting staff members is one of the essential skills for a small business. You need to hire an employee for your company. You can hire someone with basic skills for cost-cutting. Thereafter, you can equip them with the requisite skills through training.
The Functions of Human Resources Management
When it comes to human resources management, people associate it with specific functions. These include completing the joining and relieving formalities. But besides these tasks, human resources management also involves several other tasks.
Here’s a list of the tasks that come under human resources management.
1.Hiring
Hiring is one of the most important tasks of human resources management. Recruiting talented people who share your company goals can be challenging. You can overcome it by adopting the best practices for hiring your employees.
An accurate job description with the requirements will help you get the right set of applicants. Don’t forget to include the knowledge, skillsets, experience, and personality traits they need. Also, mention the salary you wish to offer to set up the expectations for candidates. Consider your budget.
2.Interviewing
Following the publication of your job offer, interested candidates will send you their Curriculum Vitae (CV). You need to shortlist the candidates you think are the best for your job requirements. The quicker you do it, the better.
On average, companies do it within the first week in 92% of the cases. If you delay it, you may lose qualified candidates to your competitors.
3.Conducting Reference and Background Checks
Reference or background checks offer exciting possibilities to companies in the long run. It can be of great help to you, especially if you wish to find candidates who can take up multiple roles in the future. You can move candidates with verified backgrounds to higher posts based on their academic and professional credentials.
The reference check of your newly-hired employees reveals a lot about their educational background and employment history.
The process involves contacting the previous employers and the educational institutions as mentioned in a candidate’s bio-data. It helps prevent employment fraud by verifying the authenticity of a candidate’s educational and work experience claims.
4.Selection
The process of selection has close links with recruitment. It is the method of narrowing down the available list of candidates by determining their suitability based on their details. These details include their academic qualification, professional qualification, and more.
While you can conduct this process manually, you can also think about using the tools and resources. By using them, you can conclude the process of selection quickly. You can think about using this procedure if you need to fill up vacancies with urgency.
5.Offering the Right Compensation and Benefits
In the job market, a candidate’s academic qualification, skills, and job experience are directly proportional to their compensation. From the standpoint of human resources, it makes one thing crystal clear. You need to be ready to pay more if you want highly qualified candidates with advanced skill sets.
To prevent the migration of your talented employees to other companies, you also need to provide them with both compensation and benefits. If you lag behind your competitors in this regard, your company will stand to lose a lot. It can result in the migration of talented employees of your company to your competitor’s business firm.
6.Completing the Documentation Formalities
Concluding the formalities of documentation are also an important part of managing human resources. This will be part and parcel of your job role if you are a human resource manager of your company. Whether you hire a new employee or an existing employee applies for separation, you must complete the documentation formalities.
Do not forget to follow your company policies to make sure you do the documentation.
7.Managing the Performance of Employees
Your company may need to upskill its workforce from time to time due to many reasons. If you belong to the human resource management team, you will be responsible for formulating and implementing the training programs.
Alongside it, you will also need to keep an eye on the performance of your employees. If their output or performance goes down for some reason, you will be responsible for working out a plan to fix this problem.
Final Thoughts
The above guide defines human resource management and the functions you need to perform as a human resource manager. Given the importance of human resource management in running a company, you will need to take up the tasks above. A good understanding of them will enable you to contribute to your company’s human resource department positively.
Finally, a great way to connect with your team as an HR manager, is to find out the employee’s personality types. Getting to know each person’s personality type and their various qualities are crucial to the smooth running of the office.
