What is the human resource management process?

"Successful human resource management is based on a company’s ability to attract and hire the best employees, equip them with the knowledge and skills they need to excel, compensate them fairly, and motivate them to reach their full potential and perform at high levels. Today’s business environment presents numerous challenges to effectively managing employees: • Technology continues to advance, which places great importance on knowledge workers, especially when demand outstrips the supply of high-talent individuals. • Global business operations involve rapid data transfer and necessitate accelerated decision-making by executive and technical employees. • The workforce is increasingly more diversified and multicultural, which places increased emphasis on communication and cultural understanding. • Work, life, and family priorities are more difficult to balance as dual-worker families populate the labor force. • Employment and labor laws continue to greatly influence employee recruitment and hiring, compensation decisions, and employee retention and turnover in both union and nonunion organizations. Each day, human resource experts and front-line supervisors deal with these challenges while sharing responsibility for attracting and retaining skilled, motivated employees. Whether faced with a large or small human resources problem, supervisors need some understanding of difficult employee-relations issues, especially if there are legal implications. Human resource (HR) management is the process of hiring, developing, motivating, and evaluating employees to achieve organizational goals. The goals and strategies of the firm’s business model form the basis for making human resource management decisions. HR practices and systems comprise the firm’s human resource decision support system that is intended to make employees a key element for gaining competitive advantage. To this end, the HR management process contains the following sequenced activities: • Job analysis and design • Human resource planning and forecasting • Employee recruitment • Employee selection • Training and development • Performance planning and evaluation • Compensation and benefits The human resource management process encourages the development of high-performance employees. The process is sequential because employees can’t be trained and paid until selected and placed in jobs, which follows recruitment, which is preceded by human resource planning and job analysis and design. Good HR practices used along this sequence foster performance improvement, knowledge and skill development, and loyal employees who desire to remain with the organization."