Human Resource Management Essay by Neatwriter

This paper explains that Human Resource Management grew out of the belief that employment was not only a source of income to the employee and profit to the company, but also represented challenges and opportunities; whereby, the employee becomes part of the company as a stakeholder. The author points out that, traditionally, human resource managers were mandated to acquire, train and maintain personnel by following appropriate government rules and regulations, by implementing just and equitable policies and procedures and by maintaining harmonious labor union and employee relationships. The paper relates that Strategic HRM links HRM practices with the strategic management process and emphasizes the coordination or congruence among HRM practices: The four HRM strategic theories are the resource-based view of the firm, the behavioral-based theory, cybernetic systems and agency or transaction cost theory.