Effective human resource management is important for all sizes of businesses. Human resource management (HRM) is the art of managing people to accomplish organizational goals through better performance. This part of management focuses on hiring, managing and directing the people in the firm. The prime motive of HRM is to compensate employees and maintain a productive environment by creating a positive and productive culture.

Now after understanding the meaning of human resource management, it is essential to understand the meaning of human resources. Human resource is referred to all the people in the organization who work to add a productive contribution to the development of the company. These people are the workforce of the company and the prime duty of HR professionals is to manage these workforces.

Top 5 Key Elements Of Human Resources

When we talk about human resource and human resource management there are numerous elements on which we can talk. A few of those are noted below.

1.   Hiring and Selection

One of the prime roles of the HR professional is hiring and selecting a workforce for an organization. The key responsibility of an HR is to pick out the most appropriate candidate who can work well and fits properly according to the job role.

2.   Performance management of employees

Once employees have joined the organization, their performance management becomes important for HR. In this task, the HR helps employees to give a better performance in their verticals.

3.   Learning and development (L&D)

The learning and development of employees is another prime task of HR. If the employee is struggling to give his/her 100% in the area required, then it is the job of a human resource professional to take learning and development sessions and help employees to improve their performance.

4.   Benefits and compensation

Benefits and compensation are other key elements of the HR basics. Good and satisfactory compensation is very essential to motivate and retain employees. There are two types of compensations  - primary compensation - which is given by the end of the month in the form of salary and secondary compensation - which is non-monetary benefits such as - flexible work timing, extra holiday, daycare, laptop, etc.

5.   Succession planning

Succession planning means being pre-planned to assign the job role of a crucial employee of the company if he/she suddenly leaves the firm. For example - if any senior manager leaves the firm there must be someone responsible like him/ her handle all the tasks effectively.

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