Every business unit needs human resource (manpower) for the conduct of different business activities. In fact, no organisation can exist or operate efficiently without the support of human resource. Such human resource includes top level managers, executives, supervisors and other subordinate / lower level staff / employees. A business organisation has to estimate its future manpower needs and adjust its manpower planning and development programmes accordingly. This is called ‘staffing’ function of management.
Human resource management is also described as personnel management or manpower management.
Meaning Of Human Resource In an industrial unit, large number of persons are employed in order to conduct various operations and activities. This is treated as human resource or manpower employed. A business unit needs material resources as well as human resource for the conduct of various activities. Of all the “M”s in management (such as Materials, Machines, Methods and Money) the most important “M” stands for Men i. e. , manpower working in the organisation.
It is through manpower/employees that all other ingredients of an enterprise-money, machines, materials, marketing, etc.
are managed. In brief, human resource (HR) constitutes the most important and the most productive resource of an industrial/business unit. What Is Human Resource Development ? Human Resource Development (HRD) means to develop available manpower through suitable methods such as training, promotions, transfers and opportunities for career development. HRD programmes create a team of well-trained, efficient and capable managers and subordinates.
Such team constitutes an important asset of an enterprise. One organisation is different from another mainly because of the people (employees) working therein. According to Peter F. Druker, “the prosperity, if not the survival of any business depends on the performance of its managers of tomorrow”. The human resource should be nurtured and used for the benefit of the organisation. Importance of Human Resource in Management Human resource is most important resource in management and needs to be used efficiently.
This is because success, stability and growth of an organisation depend on its ability in acquiring, utilizing and developing the human resources for the benefit of the organisation. In the final analysis, it is the people (employees) who produce promising results and genera a climate conductive to the growth and development of an organisation. HR is a highly productive corporate asset and the overall performance of companies and corporations depends upon the extent to which it is effectively developed and utilised. It is the most delicate factor of production and need not be treated merely as a commodity to be bought and used in factories.
According to Peter Drucker, “The function of management is to manage managers, workers and work”. The importance of manpower in business management is now universally accepted. Employees have a capacity to grow and develop, if suitable opportunities are offered. They give positive response to monetary and non-monetary incentives, training opportunities, favorable work environment and motivation. According to Pigors and Myers, “Good management means getting effective results with people”. This suggests the importance of human resource.
Cite this Introduction to Human Resource Management
Introduction to Human Resource Management. (2017, Mar 24). Retrieved from https://graduateway.com/introduction-to-human-resource-management/