With the rapid escalation in science and technology, a lot has been going on. Discoveries and even breakthroughs. Earlier, man would rely on so many things but now since the introduction of smartphones, it is a device where all is found. Similarly, when there are tech giants or rather any company, there are people who are in various segments, for example – Finance, Risk management, Employees, Call centre, and many more. What drives a company are its employees and the main entrepreneur but what binds the company is none other than, Human Resources (HR).
Brief – By the end of the article we will understand what and how to do HR management functions and the importance they play.
What is Human Capital Management? – It is a set of practices that is directlyrelated to people resource management. It focuses extensively on major workforces by allocating it’s time to the acquisition, management, and optimization. Their main goal is to strengthen their corporate position and hold a competitive position in the market.
What are the 2 main sources in HCM? – The two main sources in HCM are HRM and hris solution. Under this, they follow a certain vision and implement their vision and ethics, that is
- These are used in the APAC sectors.
- Focus – Collaboration, empowerment, and Vitalization.
- Area Expertise – They act as a control system, that is well equipped with stress and risk management, has supporting mechanics, etc.
- Implementation –These 2 sources help assist companies and categorize a tailor-made set of rules that has needs and demands. It doesn’t provide a blanket solution but helps to recognize the companies’ capabilities.
Conclusion – In any industry, whether it be an MNC or service industry, each of these companies needs to have an HR team. Not only are they efficient but are also very effective and in demand.