Q.What is Human Resource Management ?

HRM is the management of people at work — acquiring, developing, motivating and retaining employees to achieve organisational goals.

Meaning (points for a 2-mark answer):

• Human Resource Management (HRM) is that branch of management which is concerned with the management of people (human resources) in an organisation.
• It covers the whole cycle of managing employees: acquiring them (recruitment and selection), developing them (training and development), motivating them (compensation, incentives, welfare) and retaining them.
• Its dual aim is to make the most effective use of people so as to achieve the organisation's goals, while at the same time meeting the needs and satisfaction of the employees.
• HRM treats employees as valuable assets rather than mere costs. …