There are many different approaches to human resource management. HRM may be discussed from the different approaches. These approaches define HRM from different perspectives.
People are the strategic asset of an organization. People have core competencies, the basis of competitive advantage.
Human resources are the combination of talent and skills; some are inborn and other skills they have acquired through learning and education. The strategic HRM approach focuses on people management programs and long-term solutions.
It stresses organizational development interventions, achieving employee organizational fit, and other aspects that ensure employees add value.
HRM is a part of general management. Management is nothing but managing people in the workplace. Managers at all levels are responsible for managing their employees or subordinates.
Human Resource Approach
People are human beings with a lot of potential and intellectual abilities. It is important to treat people with respect and dignity.
People are a commodity. They are viewed as a cog of a machine. People can be hired and fired through money. It is money that matters most. There is a saying, “money is sweeter than honey.” This approach views people as economic men.
HR managers must anticipate the challenges or problems before they arise. Prevention is better than cure.
The proactive approach will save companies considerable time and money in the short and long run. P. F. Drucker (1997) rightly highlighted the importance of a proactive approach.
But will determine where they want to go in the short and long-term and build a holistic, aligned organization beginning at the founder level where they can attract, hire, and retain the top talent to get them where they want to go.
It occurs when decision-makers respond to problems. If efforts are reactive only, problems may be compounded, opportunities may be missed, and organizations may suffer loss.
Companies may lose time and money if they take a reactive approach.
A system is a set of interrelated but separate elements or parts working together for a common goal.