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 Introduction

"Human resource management is planning personnel needs, recruiting, selecting,training


and developing capable employees. placing them in productive work environments and
rewarding their performance."
This, human resource management refers to a set of programmes functions and activities
designed and carried out to maximize both, employee as well as organizational effectiveness. It
is concerned with the people dimensions in the management. Since every organization is made
up of people, acquiring their services development their skills motivating them to higher levels
of performance and ensuring that they Continue to maintain their commitment to the
organisation are essential to achieving organizational objectives. This is true, regardless of the
type of organization-government, business, education, health, recreation or social actions.
Human resource is one of the natural resources of any country's economy. It is the wealth of
the country. In the context of banking, human resource is of greater importance. The
deployment of human resource through proper and efficient selection, training and development
is call human resource management.
The success of any organization largely depends on efficient human management, apart from
operations, marketing and sales, the HR department manages all the efficient people working
in operations and marketing divisions in any organization.
This, HRM refers to a set of programmes, functions and activities designed and carried out
in order to maximize both employees as well as organizational effectiveness.
Human resource management is based on four fundamental principles:

1. Human resources are the most important assets an organization has and their effective
management is the key it's success.
2. Orginazational success is most likely to be achieved If the personnel policies and procedures
are closely linked to corporate and strategic plans.
3. Orginazational culture, values and climate significantly influence managerial behavior and
exert a major influence on the achievement of excellence. Hence, continues effort is needed
starting from the management in order to make the organizational culture acceptable.
4. Human resource management is concerned with intergrating all members of the organization
involved and working together with a sense of common purpose.

An organization is driven by human capital and the quality and effectiveness of the
organization is determined by the quality of the people that are employed. The resources of the
men money material and machine are collected and coordinated through people. Without
people organization can not exist.
Success for most organization depends on finding the employees with the skills to successfully
perform the tasks required to attain the company's strategic goals.
Management decisions and proceses for dealing with employees are critical to ensure that the
organization gets and keeps the right staff.
HRM may be defined as a set policies practices and program designed to maximize both
personal and organizational goals and the process of binding people and organizations togheter
so that objectives of the each achieved.

 DEFINITION
"HRM is the management function that is concerned with getting, training, motivating and
keeping competent employees. "
"HRM is a most advanced approach in the field of resources management talks about optimal
utilization of human capital. The approach is integrative and supportive."
"HRM does talk about the cultivation of a skillful environment in which people or employee
associate are able to extract their highest potential."

HRM deals with the day to day operation of the human resource department. This
curriculum would include business law, compensation,employees Relations, benefits and
medical etc.
Human resource management (HRM) is a way of management that links people-realted
activities to the strategy of a business or organization. HRM is often referred to as "strategic
HRM". It has several goals.

To meet the needs of the business and management (rather than just serve the interests of
employees).
To link human resource strategics /policies to the business goals and objectives.
To find ways for human resources to "add value" to a business.
To help a business gain the commitment of employees to its values, goals and objectives.
 OBJECTIVES OF HRM
1. SOCIETAL - To be ethically and socially responsible to the needs and challenges of the
society.
2.ORGANIZATIONAL -To bring organizatinal effectiveness and serve other departments.
3.FUNCTIONAL - To do the optimal utilization of the resources and respond to the need of
the organization.
4.PERSONAL-To assist employees in achieving their personal goals To motivate and retain
them thereby, enhancing the individual contribution to the organization.

 DEFINITION OF HRD
HRD DEALS WITH DEVELOPMENT & UPGRADETION OF HUMAN CAPITAL
(EXISTINTG MAN POWER'S UPGRADETION IN AN ORGANIZATION). IT IS A LONG
TERM PROCESS.
HRD can be defined as ' A Set of systematic and planned activities designed by an
organization, to provide it's members with the necessary skills go. Meet current and future job
demands' . It is a part of HRM.
Thus, Human resource development deals with the training and the development aspect of
employees.

 HRM IN INSURNACE
under present market forces and strict competition, the insurance companies are forced to be
competitive. Contemporary companies must seek ways to became more efficient, productive,
flexible and innovative, under constant pressure to improve results. The traditional ways of
gaining competitive advantage have to be supplemented with organizatinal capability i.e. the
firm's ability to manage people.
Organizational capability relats to hiring and retaining competent employees and developing
competencies through effective human resource management practices.
Indeed, developing a talented workforce is essential to sustainable competitive advantage. High
performance work practices provide a number of important sources of Enhanced organizational
performance. HR systems have important, practical impacts on the survival and financial
performance of firms, and on the productivity and quality of work life of the people in them.

 IMPORTANCE OF THE STUDY


The insurance industry forms an integral part of global financial market, with insurance
companies being significant institutional investors.
In recent decades, the insurance sector, like other financial services, has grown in economic
importance.
A number of foreign insurnace compnies have set up respresentative offices in India and
have also tied up with various asset management companies.
All these developments have forced the insurance companies to be competitive.
Only technology is not makes firms best, bright ideas, masterly strategy or the use of tools and
also the fact the best firms are better organized To meet the needs of their people, to attract
better people who are more motivated to do a superior Job.

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