Why we are concerned about HRM?
Some schools of thoughts consider HRM as an expense for the organization but this is not true, just take an simple examples if your organization have millions dollars machinery but no one is available to operate it. Machines can work 24/7 but as a manager or owner of the organization you can’t force employees to work 24/7 without taking any rest, holidays, leaves and etc. There is a lot of difference to take work from machines and human beings, machines can easily managed but managing human resource is a tough task.
As a manager you should have knowledge about HRM to avoid the mistakes selection, dealing with the people. The manager having HRM knowledge can define the right job according to the requirements of the organization and then find the person for that job. Human resources are the source of competitive advantage. Success of organization like Wal-Mart, Microsoft, South West Airlines already proved that human resources are the assets that can make the difference and give edge over the competitors.
HRM covers every aspect that deals with human capital, it helps to develop a work environment for the employees that motivate them towards the achievement of the goals.