Definition of Human Resource Management (HRM)
Human Resource Management refers to a combination of HR practices for organizations, managers, workers, and wider society intended to provide high-quality management of a company’s personnel and ensure the efficiency of their work (Bratton and Gold, p. 3). The importance of HRM for an organization is defined by the rapidly changing workplace and the necessity to adjust to it to increase profits. These changes mostly relate to inequality in income, insecurity of present-day workers, and current labor market trends (Bratton and Gold, p. 3). The use of HRM contributes to the effective cost and business process management as well as observance of legal provisions in terms of the employer-employee relationship.
Legal Considerations and Ethical Implications
Legal considerations should be applied in the employment of a new worker. Their most important application is the provision of an official employment contract, which includes their rights and responsibilities (Wilton, p. 29). The observance of this rule allows both companies and employees to benefit from the serious attitude to work, which follows its conclusion and avoids complications. It also promotes the observance of confidentiality, the organization’s laws, and tax regulations. In the case of non-observance of legal considerations, various issues, such as ethical ones, might arise.
Ethical norms should also be considered in terms of the development of efficient HRM practices within an organization. Arising ethical issues at work are directly connected to the correspondence of the company’s policies to legal regulations. Hence, the lack of guidance from the company’s owners might lead to severe violations of its ethical code. Possible problems in this sphere might also result from an improper attitude of managers towards employees of various levels (Wilton, p. 10). Thus, they should consider the people working for the company not as resources, but as individuals with their needs and rights.
Intrinsic and Extrinsic Rewards
One of the key terms in HRM is reward management, which is essential for a company for promoting motivation among its employees. It includes reward and pay systems covering different types of compensation, such as individual and collective, financial and non-financial (Wilton, p. 5). These are the examples of extrinsic reward provided by an organization. I believe extrinsic rewards are more efficient in terms of motivating people than the intrinsic ones, such as, for example, personal achievement or satisfaction from the performed work. The reason for this is the fact that an employee is not a single actor, but a part of a complex mechanism that is supposed to provide benefits and thereby fulfill their expectations. In my opinion, an intrinsic reward is more applicable to personal goals rather than the work ones.
Work-Family Balance and Telecommuting
One of the primary characteristics of any company is the way it manages its employees’ working time. Its importance is defined by the need to balance working time and the time they spend with their families. This issue is conditional upon a high level of stress while working for present-day organizations with greater demands (Wilton, p. 386). The failure of a company to provide proper conditions for such a division of time between employment and family responsibilities might result in the loss of talents. It may also deteriorate the image of such a company among potential employees. Hence, the observance of the balance should be one of the primary concerns of any organization.
Another trend in HR practices is telecommuting, and it can be critical during such a crisis as the spread of COVID-19 virus. This term relates to the provision of flexible choices for work, including the opportunity to work from home and manage time on one’s own (Bratton and Gold, p. 125). In the case of a threat of getting infected, most companies consider it possible to allow their employees to work from home instead of losing their jobs. However, from my point of view, this trend will not last longer than the circumstances require as communication of employees in the office is more efficient and time-saving.
Compensation
Every company develops its compensation scheme, which has an impact on the motivation of employees and their attitude towards one another. In considering this HR tool, it is vital to monitor their reaction to changes in terms of compensation and their impact on their performance. However, the most crucial issue is the understanding of how this compensation is formed and what actions would allow an employee to earn more money.
The reason for disparities is the difference of the responsibilities of employees at various levels. Thus, for example, there is a hierarchy of managers within a company, as they can be either senior managers or line managers (Bratton and Gold, p. 87). This division is connected to the existence of a variety of duties that cannot be performed by employees of the same level. The more complicated these duties are, the higher the responsibility of such a manager would be.
Hence, senior managers with more responsibilities should have higher compensation than line managers. Considering the fact that working conditions are becoming more stressful for people at all levels, it is not surprising that the compensation of executives is growing. In my opinion, their pay is not excessive as they ensure the work of a whole company, which is beneficial for all employees in the long run.
Equal Employment Opportunity and a Safe Workplace
There are several issues that HRM has to consider, and, in my opinion, the equality of people at work and the provision of a safe work environment are the most critical ones. My interest in these issues is defined by the fact that not just HR managers, but the whole company is responsible for eliminating disparities in opportunities. They are still common for the representatives of various social groups, and, therefore, should be considered by any company as a matter of the highest priority.
Equality issues should be regulated with consideration of the Equality Act of 2006 applicable to any sphere of human life (Bratton and Gold, p. 125). Moreover, the elimination of such issues will promote the motivation of employees as they will see that their success depends solely on their efforts. The recognition of this outcome will allow companies to deal with it more effectively. As for safety concerns, they remain the vital part of conditions that should be provided to all employees in equal measure. Thus, present-day companies should take into account equality not only in opportunities but also in the provision of a safe work environment.
The Use of HRM Knowledge in my Future Career
The knowledge of HR practices in organizations will allow me to have a better understanding of what I can do for career promotion under the conditions offered by a company. It will also help me to define if the company I want to choose is stable and provides all the proper social guarantees and thereby improves the relationships among its employees. Finally, the HRM knowledge will be useful while defining various characteristics of work, such as the time I would be able to spend with my family and safety of the work environment.
Works Cited
- Bratton, John, and Jeff Gold. Human Resource Management: Theory and Practice. Palgrave, 2017.
- Wilton, Nick. An Introduction to Human Resource Management. Sage, 2016.