Your initial post is due by midnight Wednesday if you want to receive full timeliness points. Otherwise, it is due by midnight Sunday of Week 1. Any initial posts completed after midnight Sunday of week 1 will not receive any timeliness points. As always, include a reference to support your own initial response, but keep in mind that a URL (a website address) is not a reference, so do not insert just a URL.
HRM is one of the fastest-growing disciplines in business. Business leaders are calling for HR professionals who understand how economics affects the attracting, motivating, developing, and retaining of top talent. Choose one of the concepts introduced in this module and explain how knowledge of this principle can improve human resource management in organizations. Give an example from your own experience if possible.
Your Subsequent Posts:
Read through the responses by your peers and post responses to at least two classmates’ posts. The response to your classmates must be about the type of funding you think they should use and why you chose it for them.
Respond – The HRM division is one of the fundamental pillars of any organization. In my opinion, any organization’s future growth and development depend on the functions and duties of the HRM department. Recruitment, policy and procedure development, and developing competitive salary and benefits packages for current and future employees are just a few of the HRM roles. Also, it is the strategic method of developing and assisting people and providing a positive work environment known as human resource management. Although its duties vary across various organizations and industries, they often include hiring, paying, and providing benefits, providing training and development, and managing employee relations. (ADP 2022)
In the sense of “Who can help the business and the vision of that business flourish,” HRM is involved in every aspect of a business. The hiring, training, education, and other practices are also based on some of these ideas, in addition to other principles. This process must be well understood by HRM, and it must look for top talent who reflects it both today and in the future. Numerous companies, including franchisees, routinely inject “INSPIRATION” into their human resource initiatives to build a strong workforce that will support the organizational attitude whether things are going well or poorly, with big profits or weak profits. Beginning with inspiration and a thorough understanding of the organization’s vision from top to bottom, HRM is required.
“Inspiration moves a person from apathy to possibilities and affects the way we perceive our own capabilities,” Scott Barry wrote in an article published in 2021. I believe what he said to be accurate. We all require inspiration to believe in our abilities, grow in self-assurance, and become more effective at what we do.
ADP (2022) Human resource management (HRM) Retrieved: https://www.adp.com/resources/articles-and-insights/articles/h/human-resource-management.aspx
Scott Barry Kaufman (2011) Why Inspiration Matters? Retrieved: https://hbr.org/2011/11/why-inspiration-matters
Respond – The knowledge of sole proprietorships can improve human resource management in organization. Sole proprietorships are, “[…] a business that is established, owned, operated, and often financed by one person,” (Gitman, McDaniel, Shah, Reece, Koffel, Talsma, & Hyatt, 2018). As a result of one person being wholly responsible for this type of business, they must be responsible for their business’s Human Resources.
Human resource management, “[…] involve[s] acquisition, development, use, and maintenance of a human resource mix,” (Gitman et al., 2018). Chron has an article detailing the efforts and issues sole proprietors may have with handling HRM including juggling the legal requirements of managing a business, the lack of quality assurance with these requirements and other HRM issues, the potential lack of expertise with these issues, and the absence of staff that could help them with all of these issues (Berman, 2017). Given the heavy burden of work solely from HRM, sole proprietors may become overwhelmed with the entirety of their workload if proper attention and planning is not given to HRM. Because of this, it is important for sole proprietors to understand the scope and workings of HRM within their business.
Sole proprietorship is not the only place business owners and leaders can benefit from a strong understanding of human resource management. Owners and leaders across all types of businesses can greatly improve their operations by having HRM knowledge that is so necessary to sole proprietors. HRM knowledge can help business owners to make legally sufficient and ethical decisions maximizing their bottom line.
Berman, C. (2017, November 21). Why are basic HR functions sometimes difficult for small firms to execute? Small Business – Chron.com. Retrieved November 30, 2022, from https://smallbusiness.chron.com/basic-hr-functions-sometimes-difficult-small-firms-execute-80861.html
Gitman, L. J., McDaniel, C., Shah, A., Reece, M., Coffee, L., Talsma, B., & Hyatt, J. C. (n.d.). Introduction to Business. OpenStax. OpenStax. Retrieved November 30, 2022, from https://assets.openstax.org/oscms-prodcms/media/documents/IntroductionToBusiness-OP_8D04gAa.pdf.