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Human resources management includes a variety of activities, and key among them is deciding what staffing needs you have and whether to use independent contractors or hire employees to fill these needs, recruiting and training the best employees, ensuring they are high performers, dealing with performance issues and ensuring your personnel and management practices conform to various regulations. Activities also include managing your approach to employee benefits and compensation, employee records and personnel policies. Usually new business owners have to carry out these activities themselves because they can't yet afford part- or full-time help. However, they should always ensure that employees have -- and are aware of -- personnel policies which conform to current regulations. These policies are often in the form of employee manuals, which all employees have. The primary HRM functions: (a) Recruitment/Selection/Promotion (b) Retraining & Redeployment, (c) PA/Compensation/Rewards (d) Rightsizing/Retaining, are the key HRM issues that organizations are focussing on during an organizational redesign process in response to strategic initiatives like mergers, acquisitions, strategic alliances and joint ventures. Research Review Performance is an intriguing concept, both in terms of definition and measurement (Keats and Hitt, 1988). A number of authors have explored the links between individual HR practices and corporate financial performance.
Approximate Word count = 778
Approximate Pages = 3.1
(250 words per page double spaced)
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