Human Resource Management Life Cycle

I am here today to shed some light on how to manage Human Resources in your workspace better that too from the perspectives of two different stakeholders the employee and the employer the job of an Human Resources Professional is to make employees happy and productive so the organization can get some competitive edge out of them if you do not manage your human resource well no matter how good you are on strategy or technology you bring into the organization they will never work well so the job for Human Resource professional is always continuously mediating between two parties to create a win-win situation with both the parties during their time together.

1. Recruitment and selection: - Recruitment is an activity of searching for candidates and encouraging them to apply. When there is a job vacancy the manager sends a notification that anyone can apply to their respected post in which you are suitable. But selection refers to the process of selecting suitable candidates and offering them a job. During selection time candidates go through Group discussion, interview round, technical round, and assessment test.

2. Performance Management: - Performance Management is involved to help employees at their workplace and help the company to grow. Performance management plays the role of 360-degree feedback which help the employee to understand how they can improve themselves where they are lacking by taking feedback from the manager.

We have seen many companies work with an annual report of performance management cycle which involves: -

• Planning

• Monitoring

• Reviewing

• Rewarding employee performance

It helps to analyze the company and employee growth and performance is a high or low and good performance of team help company to achieve the higher goal and earn profit.

3. Learning and Development: - Learning and Development help employees to reskill and upskill themselves. We can say in HR it is the best policy to help the organization and its employee to achieve long-term goals. Learning and development process work: -

• An analysis of training needs

• Specification of learning objectives

• Design of training content and method

• Monitoring and evaluation

Learning and Development also ensure that employee time to time employees is adapting new skills, knowledge, and technology which are coming into the market. This manager also ensures that a pre-defined budget has been planned which will help the employee to become future leaders, and trainers for the company's benefit grow and profit.

4. Success Planning: - Success Planning say when an experienced employee leaves his or her old company job and joins a new company with different types of features and opportunities. Passing his role to another new employee of the company so it could not affect company work and it will be running smoothly without any interruption. We also call success planning ‘Pipeline management.

5. Compensation and Benefits: -Compensation is the key to motivating and retaining employees. In this Human Resource Management concerning pay is ensuring equity and fairness. HR monitors the performance of an employee by analyzing the data growth report. Every organization has a different type of compensation benefit we can say health insurance, holiday, and reward every month. Compensation comprises primary compensation and secondary compensation. The primary method of payment for work is direct making a payment, which can frequently take the form of a monthly wage and sometimes performance-based pay. Secondary compensation is all non-monetary rewards. Which include extra holidays, flexible working times, daycare, pensions, a company car and laptop, and much more.

6. Human Resource Information System: - A Human Resources Information System (HRIS) is the most used software in HR. A HRIS is a tool for collecting and saving information about the employees of an organization. It is a method of hiring, managing performance, fostering learning and growth, and other things.

7. HR data and analytics: - Last but not least it is one of the important functions of Human resources where it keeps all the essential data stored in the system to track and analyze everything about the organization. The reporting system helps to visualize the current and past data of the organization system. It helps to make the decision easy with management support and think how to make a group of the company in the upcoming time. Forex: - Employee turnover, the impact of experience candidates on customer satisfaction, etc.

All 7 functions are an important part of the Human Resource Management workforce not only to perform better but to perform at its very best.