HRM, Strategy and Performance - Essay Example

inciples, the term personnel management do not reflects the entire functions of the personnel department and name personnel management changed to human resource management at present. Globalization and liberalization brought many changes in the business world and internationalization of business through outsourcing and offshoring are common nowadays. In any case, it is a fact that the interaction between employees of different culture has increased a lot in the current business word. Most of the big organizations are currently keen in keeping a diverse workforce in their workplaces because of different reasons.

Managing a diverse workforce at the workplace is a complex task because of the huge differences in the requirements of the diverse employees. The performance of an organization depends heavily on the success of managing the employees at the workplace. In short, human resource management can make or break an organization. This paper briefly analyses the HRM topics in general and the topics related to HRM like the meaning of HRM, business and corporate strategies, stakeholders, corporate responsibility and diversity, international and comparative HRM, HRM and Performance etc in particular.

Human Resource Management or HRM can be defined in simple words as the process of employing people, developing their capacities, utilizing, maintaining and compensating their services in tune with the job and organizational requirement. HRM’s responsibility include hiring of the people, developing their resources through training, utilizing them by placing them in appropriate places and sustaining their services with respect to needs of the organization. In other words, HRM has two important functions; one with respect to the organizational needs and the other related to the individual needs of the employees.

In short, HR department acts as the bridge between the organization and the employees. The needs of the organization and the needs of the employees may not go in