Human Resource Management - HRM

Added on - 21 Feb 2021

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Human ResourceManagement
Table of ContentsINTRODUCTION..........................................................................................................................1MAINBODY....................................................................................................................................1Theoretical..............................................................................................................................1Contextual...............................................................................................................................5Pragmatic................................................................................................................................7CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONHuman Resource Management is a relatively new approach to managing people in withinthe organisation. Theoretical aspects of the HRM is the crucial form of leading different aspectof the business.HRM is the approach that considered the all aspects of the human resourcewithin the organisation. However, the HRM is the process which consists of four main activitieslike acquisition, development, motivation namely as well as maintenance of human resources.Study will be base on HRM where it explains the study into three segments Theoretical,Contextual and Pragmatic. However, the study justifying the reasons to study HRM withinorganisation.MAINBODYTheoreticalTheoretical aspects of HRM study is very crucial to provides security to employees. Inpresent era life isunpredictable & uncertain under this circumstances stability is very necessaryin business contextAhmad & Khan, (2016).However, the HRM is all about to take care thebusiness environment and human resource needs within the workplace. Apart from this, there aredifferent theories of HRM that are essential for the organisations to stabilize the good thoughtsand ideas which The reason to implement this theory of HRM is to support creativity, innovationand teamwork withinthe organisation.However, this is the very significant reason to adopt theoretical framework of HRM togain the exact results by systematic manner. All the pre designed study and way to perform theactivities is the reason to maintained the systematic business culture.Role behaviour theory of HRM is the another significant concept that helpful todetermine the employee, team behaviour within an organisationBeretta, Berkofsky & Zhang,(Eds.). (2017). The reason to implement this theoretical concept is to make the decision forcompany growth and identify the consequences as well within the organisation. Another reasonto implement this theory on to employees is that to improve the competency level and positivebehaviour of workers. This HRM practice will enable to promote positive work culturebehaviour and control negative influences.Transaction Cost theory is based on the economic view of the costs of conductingbusiness transactions. This theory enable to to grow company of the exchanging cost of1
resources are cheaper and lesser than the competitors. This is the reason theory is relatable tolead high cost of exchange is minimised that is helpful for the organisation growth.Human capital theory of HRM is the another significant aspect of HRM that defines theimportance of education and training of employees that are the source of capital for the company.Now in Asian countries companies has invest huge capital on human to get the returnableinvestmentBrewster, (2015). Therefore, By applying this theory or a practice, organisation cangain good profitability share in other aspects.For example :Companies use the same approaches or process to hire people in theorganisation which is important for the HRM.In other words, the main reason or purpose to conduct HRM is that to pick right peoplefor the right place, analyse the needs and employee retention of the same as well. However,HRM also responsible to implement or develop the company policies, procedures, creativity,individual behaviour. HRM theoretical concept also necessary to focus on managing physicaland emotional capital of employees. Therefore, the HRM models or practices also helpful toforecast the needs of training and development of employees by analysing the overall situationalgoals.The configuration theory is the theory or concept that gain greater performances for theorganisation if these systems are applied for achieving corporate objectives of the companythrough business strategyBuchelt, (2015). Themain reason to adopt this theoretical frameworkto gain the understanding of human behaviour and build up the good relationship withemployees.Organisational learning theory of HRM based on to grab the new concepts and learningmaterial to gain the new ability to learn from emerging knowledge and adapt the learning to suitthe organisational environment faster than others. Otherwise, poor company environment oflearning can lead poor adaption to the environment, less competitiveness which leads inevitablyto decline and ultimate collapse. Generally, the theoretical framework of human resourcemanagement enable to guide HR managers and leaders to get the importance within the businessgrowth.Motivational theories can also very useful and necessary for HR manager to makeemployees confidence and effective. So in order to that, HRM can also implement differentmodels of Motivational and gain the employees satisfaction (In order to manage the conflict in2
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