Head of Thematic Area:
Human resource management (HRM) is a term used to describe a set of tasks aimed at effectively managing an organization’s employees, commonly known as its human resources or human capital. HR is a key component of any organization’s senior management team. Though the human resources department is widely known for conducting interviews, explaining company benefits, managing employee relations, providing career development advice and helping hiring managers with performance and productivity expectations, the profession has a much larger role in business today. HR professionals have evolved from the behind-the-scenes administrative role of the 20th century to active involvement in shaping corporate strategy and policy. Senior management recognizes the significant contributions of HR to their organization’s bottom line and overall success. This shift continues in the profession. To a more significant extent than ever before, many HR roles are consequently focused equally on contributing strategically and functionally to manage the organization’s talent. In today’s competitive environment, human capital management is critically important to remain viable in the global marketplace. As a result, HR plays a pivotal role in the world—because people are truly the only thing that differentiates one business from another. Organizations may replicate processes, materials and structures of other successful organizations, but only the talent of an organization makes it unique and distinguishes it from all its competitors.