To be strategic contributor, HR Managementmust enhance organizational performance, expand human capital, and be cost effective. Discuss how HR professionals must balance the competing demands made on them.
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Human resource management in detail contain many functions to fulfill the requirements of business environment of an organization. But primarily the focus is on three main factors which are the most important techniques to improve and manage the business environment and includes: Employee Performance: HRM as a strategic business contributor must be responsible to prepare strategies to evaluate the performance of employees and also help in improving their performance in order to increase the quality and profits of a business. Expanding Human Capital: HRM is responsible not only for filling the job vacancies but is also responsible for imparting training of new employees and development of the current employees so as to improve their performance and thereby improving his capabilities which helps the employee to grow to a higher position. This in turn helps the organization in managing costs and increase profits. Cost Effectiveness: HRM is indirectly managing and controlling the costs like cost of hiring, advertising for hiring, training and development, cost on various awards and flexibilities etc. COMPETING DEMANDS ON HRM “HR is the process by which the guiding members of an organization envision its future and develop the necessary procedures and operations to achieve that future.” Human resource activities are to make the expectations and goals and make plans and train employees to achieve the goals and expectations. As a strategic business contributor,...