Managed HR – The Emerging Concept
A rather modern management term, human resource was first coined in the 1960s. These days, human resource management plays an important and pivotal role in the growth and progress of an organization. Almost every company are now enrolling and executing human resource programs to manage their administration tasks including recruitment, payroll, and human recourse development functions. Though the term human resource management has nothing to do with the logical or ethical development of human spirit, it addresses to various business needs by increasing the worth of individual human resource. Also, HR management systems help companies to meet their need of eligible candidates. Some HR programs are specially drafted to engage the employees with their individual companies.
There are many companies focusing on the development of their human capital. The bottom line of most of these companies is to develop their business by increasing the human effort. In fact, efficient utilization of human resource alone can help an organization to achieve its business objectives.
The following factors can help an organization to utilize its human resource management system efficiently :
- Aligning the human resource of the organization to its business objectives
- Measuring the performance of human resource at a regular interval
- Maintaining an atmosphere of harmony and performance innovativeness
- Articulating the roles of each employee clearly and explaining the expectations of the organization
- Identifying the skill set gaps of each employee and bridge them through HR trainings and other learning measures
- In addition, the organization needs to manage its day-to- day HR management process such as recruitment process, compensation and benefit administration, induction attendance, and leave management. This process, however, involves a lot of paperwork, which in turn is a major issue for small and mid-sized companies. Small companies with limited resource need to spend a large amount of time and effort to deal with employee paperwork and other aspects of HR management.
- As a result, many organizations are now opting for managed HR services where they outsource their HR-related jobs to a company specializing in providing HR supports.