What is human resource management and what roles do the key components of HRM play in organizations?
Human resource management (HRM) involves attracting, developing, and maintaining a talented and energetic workforce to support the organization’s mission, objectives, and strategies. Attracting, developing, and maintain quality workers are the three key components of the HRM process. Attracting a quality workforce involves human resource planning, recruitment, and selection. Developing a quality workforce involves employee orientation, training and development, and performance appraisal. Maintaining a quality workforce involves career planning and development, work-life balance, compensation and benefits, employee retention and turnovers, and labor-management relations.
Source: Management, 11th Edition & 12th Edition- John R. Schermerhorn