The term human resource was originated in the year 1960s, when the importance of labour relations started to attract attention and when concepts like motivation, organizational behaviour, and selection assessments began to take shape.
Human Resource Management is an umbrella term - to describe the management and development of employees in an organization. It is also called personnel or talent management. It involves overseeing of functions related to management of human capital of any organization.
Human resource management focuses on numerous areas such as:
- Recruiting and staffing
- Training and learning
- Compensation and benefits
- Labour and employee relations
- Organization development
Human Resource Management has developed gradually over the past century and has gone through a major transformation in form and function predominantly in the past two decades. In recent times, it’s observed that in organisations, the role of human resource management has been evolving dramatically. HR is seen as a critical strategic partner and has been increasingly receiving attention. HR now is assuming stunningly different, far-reaching transformational roles and responsibilities. With the changing economy and rapid development, the world of work is also changing rapidly. To match up to this change Human Resource department in every organisation must be prepared to deal with effects of changing world of work. People who deal in HR have to understand the implications of globalization, changing skill requirements, work-force diversity, corporate downsizing, re-engineering, continuous improvement initiatives, employee involvement, the contingent workforce, and decentralized work sites. For all the above there is a financial implication to an organization.
MBA in Human Resource
The health of an organisation depends on the Human Resource department. Realising this truth and observing the current trends in HR, S.P. Pune University has designed the specialisation which offers 4 core subjects and 16 elective subjects. It is to make sure that students get acquainted with all the terminologies in HR, in depth. Following topics will be covered - Employee Health, Safety& Welfare, Compensation Management, HR Audit, Human Resource Information System, Outsourcing of HR, Public Relations & Corporate Communication, Quality Management System, Lab in Recruitment and Selection, Lab in Job Design and Analysis, Lab in Training, Lab in Labour Laws – I, Lab in Personnel Administration & Appln Procedures, Organizational Design and Development, Global HRl, Employee Reward Management, Change Management, Labour & Social Security Law, HR Accounting and Compensation Management, Employment Relations, Strategic Human Resource Management.
A brief about a few core HR subjects is below
Labor Law and Security Law
Organisational Behaviour is the study of human behaviour in organisational settings, which is an interface between human behaviour and organisation. It is about the impact that individuals, groups and organisational structure have on the behaviour of an employee within organisations for the purpose of applying such knowledge towards improving an organisation’s effectiveness. There are six disciplines which contribute to the field of organisational behaviour are
- Psychology – an individual’s reaction to any situation
- Sociology – how individuals relate themselves to a group and others.
- Social Psychology – individual’s and organisation’s perception of conflict, threats and stress.
- Anthropology – how an individual gels and understands the customs, traditions and social conventions of people
- Political Science – how an individual perceives power, Authority and Corporate Politics.
- Economic – Appreciation of monetary (wage and bonus) and non-monetary (housing, schooling and medical care) incentives by an organisation to its employees, so that they are motivated and are efficient and effective at work.
There are certain laws that formulated to protect the interest of the employees/workers and to maintain harmony between the employees and organisation. The HR has to mandatorily comply with these laws such as:
- Factories Act, 1948; Minimum Wages Act, 1948
- Payment of Wages Act, 1936; Equal Remuneration Act, 1976
- Employees’ State Insurance Act, 1948
- Employees’ Provident Funds and Miscellaneous Provisions Act, 1952
- Payment of Bonus Act, 1965
- Payment of Gratuity Act, 1972
- Workmen’s Compensation Act, 1923
- Contract Labour (Regulation and Abolition) Act, 1970
- Maternity Benefit Act,1961
- The Child Labour (Prohibition and Regulation) Act, 1986
- Industrial Employment (Standing Orders) Act, 1946
- Industrial Disputes Act
Compensation and Benefits
The biggest motivation and reward for an employee is the way he/she gets compensated for his/her work monetarily. It’s an important responsibility of the HR to make sure that each employee in each grade is compensated rightly. Students will learn to design of compensation and benefits package of an employee which includes – Base Pay, Commissions, Overtime Pay, Bonuses, Profit Sharing, Merit Pay, Stock Options, Travel/Meal/Housing Allowance, Benefits may include: Insurance, Medical, Vacation, Leaves, Retirement, taxes.
It is a study of investments made on Human Resource in the form of – recruitment, staffing, training and maintaining them in an organisation. These investments usually go unaccounted and thus HR investigates to understand the returns received and will yield in future. It helps in deciding transfers; promotions; retrenchment; further education and training of employees; causes of high labour turnover at various levels and taking preventive actions; causes of low returns on investments; evaluating the strengths and weakness of an organisation and helps the management to take corrective measures during the most unfavourable circumstances.
There are many verticals of Human Resource Management, and HR professionals do possess expertise in one or more areas. A few of HR career titles are:
- Training development specialist
- HR manager
- Benefits specialist
- Human resource generalist
- Employment services manager
- Compensation and job analysis specialist
- Training and development manager
- Benefits counsellor
- Personnel analyst