Human resource management assignment explaining the importance and contribution of human resource

Question

Task: In your human resource management assignment explain the main activities of Human Resources and how they contribute to the success of an organisation. What is human resource management? Explain health and safety and how it contributes to success of an organisation. Explain recordkeeping and how it contributes to success of an organisation. Explain employee relations and how it contributes to success of an organisation. Explain benefits and compensation and how it contributes to success of an organisation. Explain training and development and how it contributes to success of an organisation.

Answer

Human resource management
Human resource management (HRM) is the method of recruiting personnel, providing them with the required training and remuneration, creating policies relating to them, and creating retention plans(Stone, Coxand Gavin2020 A company's or organization's HR department is often in charge of setting up, carrying out, and overseeing the rules governing employees and the interaction between the business and its staff(Leicht-Deobald et al. 2019). It is found in the human resource management assignmentthat people entering the HR area might acquire appropriate work-related, operational, behavioral, and intellectual skills through specialized professional training programs for HR roles.

Human resource management assignment listing the importance
• The purpose of HR is to recruit skilled and experienced candidates for the organization.
• HRM conducts detailed pay and salary research to maintain compensation costs in line with the organization's expected revenue and present financial situation.
• Professionals in HR and employee engagement reduce the organization's vulnerability and liability to claims of unfair employment practices.
• HR specialists collaborate with job prospects to develop smart hiring policies that meet the requirements of the organization's workforce.

Health and Safetydiscussed in the human resource management assignment
It is believed in the human resource management assignmentthat every firm, regardless of size or shape, should prioritize health and safety. Even if it is crucial to value and maintain the health of all people connected to the business, including employees, for their own sake (Kirkegaard, Edwards, and Ipsen 2019). This HRM has to keep eye on the safety measures of an organization because there are several regulations in the area of safety and health and breaking the law can result in company prosecution and a host of negative financial, social, and practical outcomes.It is found in the human resource management assignmentthat numerous regulations and laws apply to health and safety, and failing to follow them can expose firms to legal action and a host of negative financial, social, and practical consequences.Predictably, "harder" health-related activities, such as habit-reinforcing incentive systems, are involved in successful attempts to improve safety. However, an organization that has achieved particularly high levels of security also frequently emphasizes "softer" procedures, such as encouraging staff to "own" safety issues and take the initiative to develop answers.

Importance
• Workplace safety encourages both managers' and employees' well-being. Greater safety results in better health. Healthy workers perform their tasks with greater efficiency and are reasonably content (Cvenkel, 2020).
• Damage to industrial equipment entails repair and replacement costs. It is assumed in the human resource management assignment that workplace safety preventing industrial damage to equipment and workplace injuries will lead to lower costs and much greater revenue.
• Employees are generally more self-assured and at ease, if their managers are worried about their safety. Consequently, absence rates decline, and workers are more concentrated on completing their responsibilities.

Recordkeeping
The HRM has to keep monitoring the progress of an organization for this they used a recordkeeping process.It is found in the human resource management assignmentthat an organization's document and information lifecycle, from the time it is created or processed until it is archived for historical purposes or deleted, is governed by a set of rules called a record-keeping policy (Lemieux 2021). It is found in the human resource management assignmentthat daily business activity produces a variety of papers, including agreements, meetings, taxes, and more. Records can illustrate whether your company is growing, which products are selling, or what adjustments are required (Montecchi,Planggerand Etter2019). Maintaining strong records might boost your chances of achieving success in business.

Importance
• Recordkeeping helps in understanding the company's cash flow to create accurate financial statements for accounting and auditing needs and comprehend how much money is entering and leaving the company.
• Recordkeeping helps in building a learning base to support staff development. Giving staff the necessary information in the palms of their hands can empower them to make decisions quickly and efficiently on the job site without having to contact headquarters.
• This helps in maintaining customers relationship better by doing this, payments will be collected and properly credited to the right clients' accounts.

Employee relations
The main assets of a company are its employees so for HRM It is essential that the employees work as a team and each make an effective proportion to accomplish a common goal. For the success of an organization as mentioned in the human resource management assignment, this is important that other employees at different levels and those with the same employer may have a relationship(Maheshwari, Samaland Bhamoriya2020).

Importance
• Even when a worker isn't always receiving praise for their efforts, asking a simple inquiry about how a particular project is doing can go a long way toward increasing employee engagement.
• Employees will work more effectively if they and their managers get along well. To assure the project's success, they will put in their best (rather than minimal) effort. Organizations with harmonious connections will be able to guarantee production continuity.
• A company's growth and profits will be positively impacted by excellent employee relations. The advantages of a happier, healthier workplace are felt not just by the company's employees but also by the client or final user.

Compensation
The HRM has to keep compensation and benefits management essentialfor employees to feel motivated. Employees who are valued for the contributions they provide are more likely to be motivated, devoted, and high achievers than those who are not (Lazear 2018). As per the human resource management assignmentfindings, there are many methods that managers and the HR division can value to the clients. Despite the fact that they may not immediately pay an employee, benefits are essential to attracting qualified workers to a company(Patiarand Wang 2020).

Importance
• The ability to pay employees according to performance allows the business to reward its employees and motivates them to excel in everything that they do for the organization.
• Compensation and benefits motivate the employees to do more work the motivational process depends on compensation, and it is closely linked to productivity. A positive correlation existsbetween productivity and remuneration.
• Compensation and benefits can support a business's growth and ability to compete in its industry by Offering a competitive salary and encouraging a high-output culture of their employees.

Training and development
The purpose of programs for training and development is to enhance an individual's or a group's productivity at work through educational activity conducted out within an organization. Because not every employee is the best from day one, training is important for all employees.It is found in the human resource management assignmentthat only training makes an employee the best for the company. Training programs that are created individually or through the support of a learning administration system may have the goal of providing employees with the chance for long-term progress(Younas et al. 2018).

Importance
• Employee development and training assist in upgrading employees’ knowledge and abilities for carrying out a job, which ultimately increases employee workefficiency and boosts an organization’s output.
• The ability to quickly accept the newest technical advancements allows workers to accelerate innovation in products and processes helping the organization to make profits.
• Employee training is crucial, especially if an organization attempting to stay on top of industry changes, norms, and regulations. The organization has to stay one step ahead of its rivals by staying informed about its industry.

Conclusion
This human resource management assignmentis concluded that HRM is an important process in an organization HRM department is responsible for handling employee recruiting, training, and retirement. HRM places a strong emphasis on how employees contribute to the operation of the company and constantly monitors the adoption of best practices. This HRM has to keep eye on the safety measures, records of accomplishment goals, salaries and wages of an employee, relationships of employees, and training and development programs for their employees. The human resource management assignmenthas also identified how these attributes contribute to the success of an organization.

References
Cvenkel, N., 2020. Well-being in the workplace: governance and sustainability insights to promote workplace health. Springer Nature.https://books.google.co.in/bookshl=en&lr=&id=XwXhDwAAQBAJ&oi=fnd&pg=PR5&dq=%E2%80% A2%09The+well-being+of+both+employees+and+managers+is+promoted+by+workplace+safety.+Health+is+improved+when+ there+is+better+safety.+Employees+that+are+healthier+do+duties+more+effectively+and+are+generally+ happier.%09&ots=vUNcELRCAC&sig=b8hcb0CzszPjGXurH6EP_-ce1OQ&redir_esc=y#v=onepage&q&f=false

Kirkegaard, M.L., Edwards, K. and Ipsen, C., 2019. How to identify the influence of the organisation of work and management on Occupational Safety and Health and on Sickness Absence in Danish abattoirs. In Human Factors Society Conference (p. 270).https://www.researchgate.net/profile/Christen-Vagle/publication/337151619_Towards_Improving_e-Learning_Platforms_for_Professional_Education/links/5e2becbc4585150ee780a42f/Towards-Improving-e-Learning-Platforms-for-Professional-Education.pdf#page=271

Lazear, E.P., 2018. Compensation and incentives in the workplace. Journal of Economic Perspectives, 32(3), pp.195-214.https://www.aeaweb.org/articlesid=10.1257/jep.32.3.195
Leicht-Deobald, U., Busch, T., Schank, C., Weibel, A., Schafheitle, S., Wildhaber, I. and Kasper, G., 2019. The challenges of algorithm-based HR decision-making for personal integrity. Journal of Business Ethics, 160(2), pp.377-392.https://link.springer.com/article/10.1007/s10551-019-04204-w Lemieux, V.L., 2021. Blockchain and Recordkeeping. Computers, 10(11), p.135.https://www.mdpi.com/2073-431X/10/11/135

Maheshwari, M., Samal, A. and Bhamoriya, V., 2020. Role of employee relations and HRM in driving commitment to sustainability in MSME firms. International Journal of Productivity and Performance Management.https://www.emerald.com/insight/content/doi/10.1108/IJPPM-12-2019-0599/full/html
Montecchi, M., Plangger, K. and Etter, M., 2019. It’s real, trust me! Establishing supply chain provenance using blockchain. Business Horizons, 62(3), pp.283-293.https://www.sciencedirect.com/science/article/abs/pii/S0007681319300084
Patiar, A. and Wang, Y., 2020. Managers' leadership, compensation and benefits, and departments’ performance: Evidence from upscale hotels in Australia. Journal of Hospitality and Tourism Management, 42, pp.29-39.https://www.sciencedirect.com/science/article/abs/pii/S144767701830439X Stone, R.J., Cox, A. and Gavin, M., 2020. Human resource management. John Wiley &
Sons.https://books.google.co.in/books?hl=en&lr=&id=uCIgEAAAQBAJ&oi=fnd&pg=PR13&dq=Human+resource+management+(HRM)+is+the+method+of+recruiting+personnel,+providing+them+with+the+required+training+and+ remuneration,+creating+policies+relating+to+them,+and+creating+retention+plans&ots=PJLOYBYQG9&sig= 15XB6sh5rPeMnr6MfhjyIQBgBYA&redir_esc=y#v=onepage&q&f=false
Younas, W., Farooq, M., Khalil-Ur-Rehman, F. and Zreen, A., 2018. The impact of training and development on employee performance. IOSR Journal of Business and Management (IOSR-JBM), 20(7), pp.20-23.https://d1wqtxts1xzle7.cloudfront.net/57021484/D2007042023-with-cover-page-v2.pdf?Expires=1666689899&Signature=agEN98zW-FZ6grcgHARE3s~AMm2R136eutJYBTdXzhIvFXOHyC-uJ5qRYHpQ5G1C5ejVVQX9K6AoCasOmEsPThmDKeaRaie12-yfoe5FQUCQCT1RoQ5K4BwCRtrz2XSsm0DWNigcjTA2yOizslcc1gmUqbSGm3DY4FnmGFXTCSp2dqS-SJGXls6DJTR6o-TaYrmsYXx~Z6Wi83qVQLZ20e~qxShDmpSyeFQLAFE6OEaTwOVXWYsDfcV2bnpIEg3PDzSRwj1sD3cyxjK8qp-tRTJ~ZNkOUs9Q7TGKxsaA66T0cIl4LmfqktwIDZ5I3bgJIqODak8jRksy2GS03xs8uQ__&Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA