7 Human Resource Management Basics Every HR Professional will learn from an MBA

Human Resource Management (HRM) is the cornerstone of every successful organization because all the workforce and HR strategies come under it. HR management helps every organization strive in a competitive environment by managing everything from recruiting to implementing policies. However, HR professionals should be proficient in their skills, knowledge, and abilities to add to the organization’s success. Recent graduates or working professionals can learn all these HR management fundamentals from MBA programs.

An MBA in HR aids individuals with finance, marketing, operations, or strategy coursework. It helps them make essential company decisions and meet their goals. As organizations today continue to evolve, the programs ensure the professionals are acquainted with different employment laws and ethical practices. Besides this, HR professionals learn data analytics to acquire and employment data. Scroll down to learn more about HR management fundamentals from MBA programs. 

What is Human Resource Management?

Human Resource Management (HRM) is about managing the daily workforce of an organization and focusing on the strategies to improve their experiences. Besides creating and implementing policies, HR management handles recruitment, staffing, training, payroll, and succession planning tasks. All these help every organization achieve its goals and objectives while retaining a competitive edge.

HRM involves recruiting and selecting potential candidates from a vast pool and training them for appropriate positions. It takes care of the compensation and incentives of those employees to attract them to the organization. Different functions of HRM boost employee engagement and satisfaction to increase the workforce potential. HRM is essential for organizations for the following reasons:

• It attracts, recruits, and retains top talent for the organization.
• HRM contributes to organizational success by increasing employee training opportunities to enhance their skills.
• HRM practices create a positive work environment and culture by withstanding the work-life balance and supporting the employees.
• It makes the employees stay committed and contribute highly to performance.
• Human resource management helps the workforce comply with labor laws and regulations.
• The management strategies protect employees from legal and financial risks and avoid legal disputes and penalties.

Also read- MBA HR course details: A complete guide

7 Human Resource Management Basics

Human Resources (HR) is one of the indispensable tools for any organization. HRM practices managing the people in a workplace to meet the organization’s goals and strengthen the corporate culture. The core HR principles taught in MBA include everything from employee recruitment and retention to payroll and performance. Below are the fundamentals of Learning HR basics through an MBA:

01. Recruitment & Selection

The initial step in Human Resource Management is to locate potential candidates from a talent pool for desired job positions. It attracts and promotes candidates for different job vacancies within the internal team. It can be done through posting job descriptions, advertising vacancies, reviewing resumes, conducting interviews, etc. It ensures the organization hires the right people for the job roles to achieve the desired goals and objectives.

02. Performance Management

The MBA program covers HR basics that help HR professionals set clear expectations, provide feedback, and evaluate employee performance. HR professionals play a pivotal role in designing and implementing performance management systems that analyze employee productivity, identify areas for improvement, and recognize high performers. HR management knowledge gained from MBA studies helps employees understand their roles and responsibilities, receive constructive feedback, and contribute to their professional growth.

03. Learning & Development

Human Resource Management enhances employee skills and knowledge, improves job performance, and fosters career growth. HR professionals are primarily responsible for identifying training needs, designing training programs, coordinating workshops or seminars, and evaluating the effectiveness of these initiatives. HR professionals invest in employee development; organizations can improve productivity and retain top talent.

04. Succession Planning

Succession planning identifies and develops potential organizational leaders to ensure a smooth transition to filling vacant positions. HR professionals collaborate with management to identify high-potential employees, provide them with opportunities for growth and development, and create a pipeline of future leaders. It is pivotal for maintaining organizational stability and continuity.

05. Compensation and Benefits

HR professionals are also responsible for designing and managing compensation and benefits programs that attract and retain top talent. HR professionals learn to determine competitive salaries, bonuses, incentives, and benefits packages. HR professionals ensure compliance with legal requirements and industry standards, such as minimum wage laws and employee benefits regulations.

06. HR Information Systems

HR Information System (HRIS) is a technology platform that streamlines HR processes, including employee data management, payroll, performance tracking, and reporting. HR professionals must possess a working knowledge of HRIS to manage employee information, generate reports, and support decision-making processes. HRIS simplifies administrative tasks, enhances data accuracy, and improves overall HR efficiency.

07. HR Data and Analytics

Data and analytics play a crucial role in shaping HR strategies and decision-making. HR professionals collect and analyze data related to employee performance, engagement, turnover, and other HR metrics. HRM is responsible for identifying trends, predicting future needs, and making data-driven decisions that support organizational goals.

Also read: Selection process in Human Resource Management: 9 easy steps to follow

MBA in Human Resource Management: Salary

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MBA in Human Resource Management: Now with MAHE!

Are you interested in pursuing a Human Resource Management (HRM) career? Look no further: Manipal Academy of Higher Education (MAHE) offers an online Master of Business Administration (MBA) in HRM. The MBA in HRM program spans over 24 months, and it does not require any prior work experience, making it accessible to fresh graduates or professionals looking to switch careers.

Learners will master employee relations management, compensation and benefits, and organizational behavior. Students can access detailed course materials, participate in discussions, and submit assignments from the comfort of their own homes. Students will not only gain a prestigious degree but also have access to a vast network of professionals in the field of HR. HR management knowledge gained from MBA studies can be invaluable when seeking career opportunities or advice from experienced professionals.

Also read: 10 important scope of Human Resource Management

Conclusion

Obtaining an MBA provides HR professionals with a solid foundation in the fundamental principles of human resource management. These professionals can learn the basics of talent acquisition, employee development, performance management, compensation and benefits, employee relations, diversity and inclusion, and HR strategy. These skills are essential for effectively managing an organization’s most valuable asset – its people. Therefore, HR professionals can gain the knowledge and expertise needed to navigate the complexities of the modern workplace and contribute to the overall success of their organizations.