Functions of Human Resource Management (HRM) | Human Resource Management

Functions of Human Resource Management (HRM)!

Human resource management is the process of attracting, developing, utilizing and retaining human resource in the organization. It consists different four functions or components which are as follows:
1. Acquisition
2. Development
3. Utilization
4. Maintenance

 1. Acquisition 

Acquisition refers to the method of process by which organization ensure right person at right place in right time. It includes different activities such as human resource planning, job analysis, selection, socialization, requirement of human resources in an organization.

 2. Development 

 Human resource development is the second important function of human resource management. It is concerned with improving the efficiency and competency of human resource and making them capable for accomplishing assigned task. It includes different activities such as identifying training needs, conducting act management development and providing career development opportunities.

 3. Utilization 

Utilization is concerned with making the employees or human resources committed on the organizational activities. It fosters willingness of human resources towards the accomplishment of task and make them satisfied in the organization. It also includes different activities such as motivation, performance evaluation, reward management, employees benefits etc.

 4. Maintenance 

Maintenance is concerned with the preservation or retention of human resources in the organization. It is concerned with keeping the human resources for the long time and preventing them from frequently change in the organization. It is conducted to reduce employees turnover and retain competed human resource organization. It includes different activities such as human relation, employee welfare manage system, discipline, communication system etc.