Human resources is a term in which many organizations describe the
combination of traditionally administrative personnel functions with
performance management, employee relations and resource planning. The field
draws upon concepts developed in Industrial/Organizational Psychology. Human
resources has at least two related interpretations depending on context. The
original usage derives from political economy and economics, where it was
traditionally called labor, one of four factors of production. The more
common usage within corporations and businesses refers to the individuals
within the firm, and to the portion of the firm's organization that deals
with hiring, firing, training, and other personnel issues. This article
addresses both definitions.
The objective of Human Resources is to maximize the return on investment
from the organization's human capital and minimize financial risk. It is the
responsibility of human resource managers to conduct these activities in an
effective, legal, fair, and consistent manner. Human resource management
serves these key functions:
Hiring (recruitment)
Compensation
Evaluation and Management (of Performance)
Promotions
Managing Relations
Planning
Payroll
From: Wikipedia
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