NTA UGC/NET/SET/JRF Commerce Paper 2 - 2024, | 2023 Fully solved paper | 4th Edition, Includes 2023 Solved Papers |

HR FUNCTIONS AND MANAGEMENT

HUMAN RESOURCE MANAGEMENT

We have a huge population and unemployment, but it is genuinely difficult to find the right sort of people. It is a paradoxical situation. The people element of organizations is discussed under Human Resource Management (HRM).

The emphasis of HRM is on considering the following:

1. Employees as assets rather than as costs

2. Adopting a strategic approach to invest in them to achieve higher value

3. To develop and manage the performance

4. Gaining their commitment to achieve the objectives of the organization

It is a psychological contract between management and employees. It should offer challenging and meaningful work in return for a loyal, committed and self-motivated employee.

Thus, a proper ...