Tamilnadu Samacheer Kalvi 12th Commerce Notes Chapter 9 Fundamentals of Human Resource Management Notes
→ Human resource is the most important element in any organisation.
→ The significance of human resource is gaining momentum in recent years because of the growing global business leading to demand for quality workforce.
→ To accomplish personal and organisational objectives, the unique asset called human resource has to be appropriately placed.
→ According to Peter. F. Drucker, “Man, of all resources available to him, can grow and develop”.
→ In the words of Leon C . Megginson, Human Resources refers to “the total knowledge, skills, creative abilities, talents and aptitudes of an organisation’s workforce, as well as the values, attitudes and beliefs of the individuals involved.
→ As per the views of Michael J. Jucius Human Resource is a “Whole consisting of interrelated, interdependent and interacting physiological, sociological and ethical components”.
→ Human resource created all other resources. Human resource exhibits innovation and creativity.
→ Human resources are movable.
→ Industrial relations depend on human resource.
→ The branch of management that deals with managing human resource is known as Human Resource Management.
→ According to Dale Yoder, Human Resource Management is “the effective process of planning and directing the application, development and utilisation of human resources in employment”.
→ Functions of human resource management may be classified as: I) Managerial function – Planning, Organising, Directing, Controlling; II) Operative function – Procurement, Development, Compensation, Retention, Integration, Maintenance.