The Encyclopedia of Human Resources (I)

Human resources is a term used to refer to how employees are managed by organizations, or to the personnel department charged with that role. The field has moved from a traditionally administrative function to a strategic one that allegedly recognizes the link between talented and engaged people and organizational success. The field draws upon concepts developed in Industrial or Organizational Psychology and System Theory. Human resources has at least two related interpretations depending on context. The original usage derives from political economy and economics, where it was traditionally called labor, one of four factors of production although this perspective is changing as a function of new and ongoing research into more strategic approaches at national levels. This first usage is used more in terms of 'human resources development', and can go beyond just organizations to the level of nations. The more traditional usage within corporations and businesses refers to the individuals within a firm or agency, and to the portion of the organization that deals with hiring, firing, training, and other personnel issues, typically referred to as 'human resources management'.

Human resource management's objective is to maximize the return on investment from the organization's human capital and minimize financial risk. It is the responsibility of human resource managers in a corporate context to conduct these activities in an effective, legal, fair, and consistent manner. Management is the process of getting things done effectively and efficiently with and through other people to achieve the objective of the organization. Human Resource Management is the organizational function that deals with issues related to people such as compensation, hiring, performance management, organization development, safety, wellness, benefits, employee motivation, communication, administration, and training.

Source: Wikipedia, The Free Encyclopedia

Related Post(s):
1. The Encyclopedia of Human Resources (I)
2. The Encyclopedia of Human Resources (II)
3. The Encyclopedia of Human Resources (III)
4. The Encyclopedia of Human Resources (IV)
5. The Encyclopedia of Human Resources (V)
6. The Encyclopedia of Human Resources (VI)
7. The Encyclopedia of Human Resources (VII)
8. The Encyclopedia of Human Resources (VIII)