People are the most important asset of any thriving organisation, so it’s natural that the effective management of these human resources – known as HRM – is central to a sound business strategy.
Human resource managers are responsible for hiring and developing employees through a range of methods, including incentives, training programmes and ongoing performance evaluation. However, having an awareness of HRM best practice shouldn’t stop with the HR department.
HRM responsibilities in leadership
The crucial nature of HRM means that these skills are also needed to effectively organise a workforce and are important for those working in leadership roles.
Firstly, there’s the need to manage and direct HR staff. Talent acquisition is another key consideration too; the company’s growth depends on being able to consistently bring the right people in, and effectively manage the movement of people within the business. Management should retain at least some control of these responsibilities from the HR team. Is the hiring process fair? Is your company free of discrimination?
Lastly, staff retention: how do you keep hold of the best talent when so many companies are on the hunt for new recruits? The HR team will obviously play a part in this, but the final say lies with those in management-level positions.
Why is this so important now?
The benefits of effective people management – namely improved retention, morale and productivity – should be enough encouragement alone, but HRM’s importance is amplified by the behaviour of some major businesses in the public eye.
Amazon is a prime example here; the company has structured its HR approach to address an obvious gender pay gap, and it’s worked. There is currently a -0.7% difference in favour of women, compared to the UK average of 18.4% in favour of men¹.
How to gain a full understanding of HRM
An understanding of effective human resource management will come from experience, but the subject can also be studied in a university setting.
The Online MBA includes a module dedicated to Organisational Behaviour and HRM that helps students access, utilise and get the most from the HR functions in their companies, both now and in the future.
The module is formed of two components: exploring the way people behave and interact in business, followed by equipping students with the skills and knowledge required to deal with structural challenges.
Delivered 100% online, this programme offers a perfect solution if you’re looking to develop as a manager and transition into a senior leadership role without the need to relocate. To learn more about the programme, download a brochure today.
¹ SANGWANI, G. (2018) From JPMorgan to Amazon: Over 86% Companies in UK Pay Women Less Than Men [online] Available at: <https://www.financialexpress.com/industry/from-jpmorgan-to-amazon-over-86-percent-companies-operating-in-uk-pay-women-less-than-men/1127899/> [Accessed 28.11.2018]