Essay Human Resource Management ( Hrm )

1038 Words May 5th, 2016 null Page
Human resource management (HRM) consists of the activities commenced by an enterprise to ensure the effective utilisation of employees toward the accomplishment of individual, group, and organisational goals. In the modern era of business, human resources management is seen as a function that provides firms with a competitive advantage as business are dependent on human capital (ideas, concepts, innovation) more than ever as it is viewed as a principal driver of competitive advantage (Sarina, 2016). There are various HRM practices and components that deliver a business with a competitive advantage.

Human resource development (HRD) is a subsection of HRM which aids an organisation in gaining a competitive advantage. Human resource development is the structure for assisting and training employees in order to mature their personal and administrative skills, knowledge, and abilities ( Heathfield,2016). “ Human resources development includes such opportunities as employee training, employee career development, performance management and development, coaching, mentoring, succession planning, key employee identification, tuition assistance, and organization development ‘” (Heathfield, 2016). All of these factors within HRD allow business to gain a competitive advantage within their market and against their competitors. HRD in modern business is considered to be one of the key factors that benefits the organisation and helps provide a competitive advantage as it is generally…

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