Introduction: The Human Resource Management (HRM) is an academic theory and a business practice that is connected with the theoretical and practical techniques of managing a staff . its theoretical discipline is based primarily on the assumption that employees or the staff are individuals with changing goals and needs, and it should not be considered as basic business resources, such as trucks and filing cabinets.
The workers take a positive view of Field thinking that all wish to contribute to the enterprise productively and that the main obstacles to their endeavours are lack of knowledge, insufficient training, and failures of process. The Human Resource Management is considered to be the part of a business or company which recruits, develops and utilizes an organization’s personnel in the way which would benefit the firm’s aims and objectives. It creates alignment between an organization’s HRM strategy and the core objectives of a business considered as essential.
Human Resource Management (HRM) is all about managing people, human capital and culture for business success. The human resources management (HRM) function includes a variety of activities, and key among them is deciding what staffing needs you have and whether to use independent contractors or hire employees to fill these needs, recruiting and training the best employees, ensuring they are high performers, dealing with performance issues, and ensuring your personnel and management practices conform to various regulations. Activities also include managing your approach to employee benefits and compensation, employee records and personnel policies.
Human Resource Management is seen by practitioners in the field as a more innovative view of workplace management than the traditional approach. The techniques force the managers of an enterprise to express their goals with specificity so that they can understand the workforce, and to provide the resources needed for them to accomplish their assignments. Thus Human Resource Management techniques, when properly practised, seem to be expressive of the goals and operating practices of the enterprise overall.
Nowadays, it has concerned synonyms such as personnel management are often used in a more restricted sense to describe those activities that are necessary for the recruiting of a workforce, providing its members with payroll and benefits, by which Staff is administered. These activities require regulatory knowledge and effort, and enterprises can benefit from the recruitment and development of personnel with these specific skills. Academic theory
Human Resource Management aims to help an organization or Institution to meet strategic goals by attracting, and maintaining employees and also to manage them effectively. The academic theory of Human Resource Management is that humans should not be considered machines. Therefore, we should have an interdisciplinary examination of people in the workplace. The Fields such as psychology, industrial and organizational psychology, sociology, and critical theories: postmodernism, post-structuralism play a major role. Many colleges and universities offer bachelor and master degrees in Human Resources Management.
The activities of Human resource managers are involved such as interviewing applicants, staff training, and dealing with laws and regulations within employment. Human Resource Management is composed of seven interlinked activities taking place with organizations.
The seven major HR management activities are given below:
- Strategic HR Management
- Equal Employment Opportunity (EEO)
- HR Development
- Compensation and Benefits
- Health, Safety, & Security
- Employee & Labor Relations.
Within these activities, there are external forces involved such as legal, economic, technological, global, environmental, cultural/geographic, political, and social–which significantly affect HR activities and how they are designed, managed, and changed.
Resource Manager” and that is the only change. Empowerment has been noted as an HRM practice which by critics has been noted more as a pseudo-empowerment, based on attitudinal shaping Other such HRM practices have been noted as hidden within rhetoric, and many examples particularly within call centres are much more Orwellian, and hide the reality, through attitudinal shaping.
Today, unions remain a controversial topic. Under the provisions of the Taft-Hartley Act, the closed-shop arrangement states employees (outside the construction industry) are not required to join a union when they are hired. Union-shop arrangements permit employers to hire non-union workers contingent upon their joining the union once they are hired. The Taft-Hartley Act gives employers the right to file unfair labour practice complaints against the union and to express their views concerning unions.
The Human Capital: Carmeli, A and Schaubroeck, J argues that “having higher levels of human resources capital were strongly associated with performance only when top managers perceived that these resources provided distinctive value in terms of being highly valuable, inimitable, rare, and no substitutable”
For this reason, the motivation of employee is at the heart of how innovative and productive things get done within the work organization. Before studying the different ways to motivate, we have to give a clear definition of the word “motivation”. Bloisi, W argues that “motivation involves a conscious decision to perform one or more activities with a greater effort that one performs other activities competing for attention”.
Human capital is a way of defining and categorizing the skills and abilities as used unemployment and as they otherwise contribute to the economy. Many early economic theories refer to it simply as labour, one of three factors of production, and consider it to be a commodity — homogeneous and easily interchangeable. Other conceptions of labour are more sophisticated Origin of concept History
The term human capital was first discussed by Arthur Cecil Pigou: “There is such a thing as investment in human capital as well as investment in material capital. So soon as this is recognized, the distinction between the economy in consumption and economy in investment becomes blurred. For, up to a point, consumption is an investment in personal productive capacity. This is especially important in connection with children: to reduce unduly expenditure on their consumption may greatly lower their efficiency in after-life. Even for adults, after we have descended a certain distance along the scale of wealth so that we are beyond the region of luxuries and “unnecessary” comforts, a check to personal consumption is also a check to investment.
Global Presence of Companies: The global debate is on regarding the fair distribution of human capital between the countries. This points to the educated individuals, who typically migrate from poorer places or developing countries to richer places seeking opportunity, making ‘the rich richer and the poor poorer’. When these workers migrate, generally, their early care and education are benefited by the country where they move to work and live their lives. And, when they have health problems or retire, their care and retirement pension will typically be paid in the new country.
Historical HRM from 19th to 20th Centuries: During the late 19th and early 20th centuries, The Human Capital in the United States had become considerably more valuable as the need for skilled labour came with newfound technological advancement. These new techniques and processes also required further education than normally of primary schooling, which hence led to the creation of more formalized schooling across the nation.
The early insight into the need for education allowed for provided a Shift to US productivity and economic prosperity when compared to other world leaders at the time. The rights and freedom of individuals who travelled for the want of opportunity, despite some historical exceptions such as the Soviet bloc and its “Iron Curtain”, seem to consistently outweigh the rights of nation-states that nurture and educate them it’s worth mentioning that, the ability to have mobility with regards to where people want to move and work is a part of their human capital. They were able to move from one place to another.
HRM in Several Environments: Being increase in competition, locally or globally, organizations must become more adaptable, resilient, agile, and customer-focused to succeed. And within this change in environment, the HR professional has to evolve to become a strategic partner, an employee sponsor or advocate, and a change mentor within the organization. To succeed in this term, HR must be a business-driven function with a thorough understanding of the organization’s big picture and be able to influence key decisions and policies. The focus of today’s HR Manager is on strategic personnel retention and talents development.
HR professionals can be e coaches, counsellors, mentors, and succession planners to help motivate an organization’s members and their loyalty. The HR manager will also have to promote and fight for values, ethics, beliefs, and spirituality within their organizations, especially in the management of workplace diversity as compared to the WorkForce of various states. Many companies now have realized the advantages of a diverse workplace.
As many of them are going local in their market expansions either physically or virtually (for example, E-commerce-related companies), there is a necessity to employ diverse talents to understand the various niches of the market. If want to take the example of China when it was opening up its markets and exporting their products globally in the late 1980s, the Chinese companies (such as China’s electronic giants such as Hair) were seeking the marketing expertise of Singaporeans. This was due to Singapore’s marketing talents were able to understand the local China markets relatively well (almost 75% of Singaporeans are of Chinese descent) and as well as being attuned to the markets in the West due to Singapore’s open economic policies and English language abilities.
Similarly, if we take the Example of Microsoft a Global company and No1Software Company has some values to work in different environments. They are adaptable to any Culture or norms and rules of the Country because they employ the local Talent there besides their working capital already they have with. They rely on local Partners as entrepreneurs for their sales and marketing. In this Line, Google has done remarkable by establishing sites of Various Countries in their languages which have helped them to go forward and become the biggest advertising company for Web.
Billion of ads shown on site as ad words but the main thing they employ the Local talent for boosting their sales. Yahoo is also an International Company in competition with Google and Microsoft. But it shares went down due to improper Human Resource and improper understanding of the local markets of the Various Countries.
Conclusion: Finally, If the Human Resource Management Theory assessed globally, it has brought a revolution in outsourcing and hiring of the staff. It has opened the Vistas of talent and opened the doors of the talent to the Globe. Now opportunities are not limited to the particular Countries. The HRM has proved vital for the Biggest Companies such as Sony, Samsung, Motorola and LG also. They have the same phenomena of taking the products menus in the local languages to sell and market their Products through the Local Human Resource.
No nation aspires success sans sacrifices: PM Imran Khan
Prime Minister Imran Khan has said that without spirit of sacrifice, a nation could not aspire to achieve development as the very human essence had a global significance.
In a message on Eid-ul-Azha 1442 Hijra, the prime minister conveyed his felicitations
to the whole Pakistani nation and the Muslim world.
The prime minister said sacrificing an animal on this holy festival manifested that a person has to sacrifice human desires for the achievement of the highest ideals.
Such a passion generated a quality in humans that would not let them side-track from the right path, he observed.
The prime minister opined that it was the passion which helped the Pakistani nation to save itself from the global coronavirus pandemic with wisdom, national strategy and patience.
The prime minister noted that celebration of Eid-ul-Azha reminded them of the unprecedented and supreme sacrifices of Hazrat Ibrahim (AS) and Hazrat Ismail (AS). Allah Almighty liked their act of sacrifice so much that it was declared an obligation for the rest of the Ummah to perform till the Day of Judgement.
The prime minister further said that economic situation with which the country was confronted, had been changing now.
The country’s economy was put on the right track and as a result of government’s steps, the economic indicators were showing positive trajectory, he added.
The prime minister said through different schemes launched by his government, the people were being provided with relief.
The day was not far, he resolved, when Pakistan would be standing equally in the ranks of developed countries and the whole nation would feel pride among the comity of nations.
The Development of microfinance industry depends upon the resilience and risk management: SECP Chairman Amir Khan
Islamabad : SECP Chairman, Aamir Khan emphasized that in these challenging times the development of microfinance industry depends upon the resilience and risk management, achieved through quintessential pillars of liquidity-tapped through private capital and technology embracement. Khan was addressing the Non-Bank Microfinance Companies Stakeholders Forum organized by SECP to devise a way forward and collaborate strategic response to cope the challenges posed by COVID-19 pandemic and ensuing lockdowns.
The SECP Chairman Amir Khan, along with Commissioner Specialized Companies Division, Farrukh Sabzwari chaired the session. Representatives of Pakistan Microfinance Network (PMN), State Bank of Pakistan (SBP), National Bank of Pakistan (NBP), Pakistan Poverty Alleviation Fund (PPAF), Pakistan Microfinance Investment Company Limited (PMIC), Karandaaz Pakistan and multilateral donor agencies including the World Bank, International Finance Corporation (IFC) and Department for International Development (DFID) attended the session.
The Chairman SECP advised NBMFCs to go far product diversification to insurance solutions and saving products and build capacity of their workforce to attain business development and operational efficiency. He endorsed formation of a working group consisting of nominees from SECP, PMN, PMIC and NBMFCs to further analyze the situation. The working group will also take up the matters with relevant forums including ministry of finance, SBP and multilateral donor agencies for possible solutions.
Khan expressed SECP’s firm commitment to providing all possible support to industry not only during the current pandemic times but also in developing the industry on a strong footing. SECP Commissioner, Sabzwari highlighted the measures taken by SECP to provide relief and flexibility to the NBMFCs and their wholesale lender in managing funding requirements. He also talked about SECP’s advice to NBMFCs to defer and reschedule borrower loans.
Participants acknowledged SECP’s timely intervention to provide regulatory relief to NBMFCs in managing their credit lines and funding requirements. However, industry representatives expressed their concerns on potential defaults by borrower and liquidity crunch that may lead to capital crisis in the industry.
They raised the need of new money injection into the industry through collaborative efforts of microfinance regulators and the government. Representatives of international donor agencies attending the Forum expressed their resolve to extend fullest possible support to Pakistan’s microfinance sector.
Gov’t releases Rs 533.33 billion for various development projects so far
Islamabad: The federal government has so far authorized release of Rs 533.33 billion for various ongoing and new social sector uplift projects under its Public Sector Development Programme (PSDP) 2019-20, as against the total allocation of Rs 701 billion.
Under its development programme, the government has released an amount of Rs 230.3 billion for federal ministries, Rs 175.65 billion for corporations and Rs 43.46 billion for special areas, according to a latest data released by Ministry of Planning, Development and Reform.
Out of these allocations, the government released Rs 38.5 billion for security enhancement in the country for which the government had allocated Rs 53 billion during the year 2019-20.
An amount of Rs 81.37 billion has also been released for the blocks managed by finance division under the government’s 10 years development programme.
Similarly, for Higher Education Commission, the government released an amount of Rs 27.07 billion out of its total allocation of Rs 29 billion while Rs 301.47 million were released for Pakistan Nuclear Energy Authority for which the government had allocated Rs 301.48 million in the development budget.
For National Highway Authority, the government released Rs154.94 billion. Under annual development agenda, the government also released Rs 10.7 billion for Railways Division out of total allocation of Rs16 billion, Rs 7.7 billion for Interior Division, and Rs 8.38 billion for National Health Services, Regulations, and Coordination Division.
Revenue Division received Rs 4.3 billion whereas the Cabinet Division also received Rs 30.18 billion for which an amount of Rs 39.986 billion has been allocated for the year 2019-20.
The government also released Rs 26.9 billion for Azad Jammu and Kashmir (AJK) block and other projects out of its allocations of Rs 27.26 billion and Rs 16.54 billion for Gilgit Baltistan (Block and other projects).
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