Human Resource Management (HRM) have four main important fuctions such as :- Staffing a) Planning and recruitment - To have a proper reconciliation between the two environmental forces of labour market (demand and supply of labour). To have an idea of their current configuration of their human resource. This will determine the strengths and weeknesses of their present stock of employees.
To have a plan as to where they are heading in the future. Finally to determine on their discrepancies between the current configuration and their required future configuration of their labour supply.
b) Selection and Placement - This will determine who will or will not be allowed into the organization.
Training - To create a competitive advantage. This will enhance the employee's productivity and quality towards the company's goals and objectives on a) Employee's knowledge of foreign competitors and cultures.
b) Basic skills to work with new technologies c) To understand the company's cultures, innovation, creativity and learning.
d) Ensure employment security e) Prepare employee's to work more effectively with each other, particularly with minority.
Compensation - Developing an attractive pay structure according to the proper job structures by attaching other benefits like incentives, allowances, overtime, increments, well insured on workmen compensation, benchmarking the pay structures according to the market competitiveness, a proper future plan for the employee's and finally a retirement benefit.
Performance Management - Is a process for the managers to evaluate their employees activities and output are congruent with the organization's goal on gaining competitive advantage.