The function of Human Resource Management contains a number of activities. The most important among them is to understand your small or home-based business's recruitment needs. HRM is responsible for deciding that whether to hire freelancers or appoint full-time workforce for the business setup you have. Hiring and training the best workers, making sure that they are high performers, ensure your personal management practices and try to be conventional to various policies are some of the Human Resource Management activities.
Mostly commercial or non-commercial small or home-based businesses have to carry out the human resource activities by themselves, as they cannot afford recruiting human resource management at their early stages. Conversely they should make the employee certain about the terms and conditions and the corporate policies of your business. Usually, those rules, regulations and policies are mentioned in the appointment letter provided to them at the time of their hiring. Besides that, do not make the Human Resource Management (HRM) confused with the Human Resource Development (HRD). HRD is a much broader spectrum of which HRM is a part.
The functions of HRM can be dealt easily and effectively in a small or home-based business setup by the business owner. Yet, the Human Resource Management functions are different for small, medium or large size entrepreneurs, and it place emphasis on how leadership, organization and devotion played important roles in organizational success.
Next to the general management work, HRM practices are the most important activity in small or home-based business ventures. Study shows that smaller firms grow in HRM practices if giving importance to training of its employees and group-based incentives on a basis of total quality management strategy. But the HR practices have generally languished in small or home-based business.
In short it is better to say that Human Resource Management (HRM) is a sophisticated means of managing quality workers, benefits and wages within the organization's budget.
The writer is maintaining a website Small Business Bible which has everything you need to know to run a successful small business.
When starting a business it is significant that the owner has a sound knowledge and prepared for any challenge. Small Business Bible is a site intended to guide starters and experienced entrepreneurs who plan to initiate a new home based business or a small business firm. This site provides comprehensive, easy to understand information on how to start up, maintain and solve problems in small business. Each section of the site has a variety of articles related to specific areas of small business and includes little known tips and pieces of advice for business owners at any stage.
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