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Human resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. [1][2] A narrower concept is human capital, the knowledge and skills which the individuals command. [3] Similar terms include manpower, labor, labor-power, or personnel. The Human Resources department (HR department ...
Human resource management (HRM) is the strategic and coherent approach to the effective and efficient management of people in a company or organization such that they help their business gain a competitive advantage.
Human capital is the value that the employees of a business provide through the application of skills, know-how and expertise. [43] It is an organization's combined human capability for solving business problems. Human capital is inherent in people and cannot be owned by an organization.
Human resources can be defined as division of business that involves finding, screening, recruiting, and training job applicants. [25] Human resources, or HR, is crucial for all businesses to succeed as it helps companies adjust to a fast-moving business environment and the increasing demand for jobs. [25]
Human resource planning is the ongoing process of systematic planning to achieve the best use of an organisation's most valuable asset – its human resources. The objective of human resource (HR) planning is to ensure the best fit between employees and jobs, while avoiding workforce shortages or spares. The three key elements of the HR ...
A human resources management system (HRMS) (also human resources information system (HRIS) or human capital management (HCM) system) is a form of human resources (HR) software that combines a number of systems and processes to ensure the easy management of human resources, business processes and data. Human resources software is used by ...
Business administration. Talent management (TM) is the anticipation of required human capital for an organization and the planning to meet those needs. [1] The field has been growing in significance and gaining interest among practitioners as well as in the scholarly debate over the past 10 years, [2] particularly after McKinsey 's 1997 ...
Human resource policies are continuing guidelines on the approach of which an organization intends to adopt in managing its people. [1] They represent specific guidelines to HR managers on various matters concerning employment and state the intent of the organization on different aspects of Human Resource management such as recruitment, promotion, compensation, [2] training, selections etc. [3 ...
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