Human Resource Management

While there is no single agreed-upon definition of human resource management (HRM), broadly speaking it encompasses the practice of managing employees in pursuit of organizational success. It is concerned with all aspects of how people are employed and managed in organizations.

Due to the potential complexities of the topic, academics and practitioners have sought to recognize different approaches to HRM, such as distinguishing between hard and soft HRM. The hard approach focuses on employees as a resource of the business, stressing management control and compliance while achieving low labor costs. Decision making is generally quicker with this approach and it may result in a more cost-effective workforce (therefore maximizing profit). However, as relatively little attention is given to the employees as individuals, this approach may lead ...