Is HRM a new concept Essay Example | Topics and Well Written Essays - 500 words

Is HRM a new concept - Essay Example In case of multinational companies a brand new concept has been outlined by HRM known as organizational culture. This is a completely new field which describes internal environment of an organization and its impact on organizational performance. Change management approach is a new dimension within human resource management. It helps in describing various aspects that is related to acquisitions or mergers of firms. b) There are some factors which states HRM is not a new concept. Earlier management discipline forms the basis of human resource management. HRM is mostly stated as old wine packed in new bottle. There were management strategies followed previously but in recent years those have been given new names. Human resource management in various ways can be defined similar to the approach of personal management. In the current scenario new dimension has been given to human resource management in order to stay competitive but it cannot be totally stated as a new concept. There exist some important functions related to human resource management. Firstly training and development is a function that deals with training new recruits or existing employees so as to impart necessary skills and knowledge. Training and development sessions even enhances confidence interval amongst team members. Appraisal is another function which can be associated with job performance. This function tends to increase confidence interval within an employee. Compensation can be stated as the basic benefit that an employee receives. It forms the first step towards managing human capital in an organization. Assessment is an HRM function and it deals with analyzing employee performance. The assessed performance is then evaluated against a set standard in order to determine poor and best performers. All these functions are based on an essential component that is recruitment