10 Benefits of Studying Human Resource Management in 2020

10 Benefits of Studying Human Resource Management in 2020

human resource management
November 11, 2019 admin

Human Resource Management (HRM) department holds prime importance in any company and are considered as the backbone that leads to the streamlining of any system. HR professionals who are deployed in small scale businesses hold well-rounded expertise to deliver various services to its employees.

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They handle vast array of tasks including recruiting new employees, conducting interviews, dealing with conflict resolution, and managing the holiday allowance, benefits and payroll for existing employees. There are many routes into a career in HR; however the safest route is to do a HR specific course like degree, postgraduate course or diploma.

HR qualification will help you to get on the career ladder. In addition, there are several benefits you can enjoy by learning HRM. This blog discusses 10 benefits of studying Human Resource Management in 2020.

Benefits you can bring to workplace

1. Helps reduce employee turnover

Helps reduce employee turnover - human resource managementHigh employee turnover can negatively affect a company. In fact, it costs twice as much as a current employee’s salary to find and train a new recruit. When you become a human resource professional, you will get to know how to hire the right people(those who are best qualified for the positions and will help the company to attain their organizational goals)for the company from the start.

You need to interview the candidates carefully, to ensure that they have the right skills and to check whether they fit in with the company’s culture. You need to outline the right compensation and benefits.   In addition, you need to pay attention to the personal needs of employees.

During the interview, you need to discuss clear career paths, as employees may like to know how they can grow within the company. Human resource professionals usually meet employees only when there are issues, but to reduce employee turnover they will have to regularly visit staff members and enquire if they are feeling alright and happy.

2. Helps resolve workplace conflicts

Helps resolve workplace conflicts - human resource managementWorkplace conflict is unavoidable, as employees have different personalities, lifestyles and work ethics. When you are doing the Human Resource Management (HRM) course, you will be taught how to manage conflict in the workplace and how to resolve it.

Read Also: 15 Things HR Manager Must Consider When Dealing With Family Leave

In addition, you will be taught how to handle the situation as professionally as possible. If conflict arises between employees or an employee and someone in management, as a human resource professional, you should be able to assist both parties equally and not choose sides.

3. Determines the level of employee satisfaction

Determines the level of employee satisfaction - human resource management

Human resource specialists are responsible for determining the level of employee satisfaction. HRM student will learn how to set up surveys, focus groups and interview strategies, which  will help  him /her to determine whether employees are content or not.

Human resource professionals determine the underlying causes for employee dissatisfaction. They address those issues and motivate staff members with creative solutions. They always try to find out the issues that employees face and look for ways to assist them.

4. Boosts employee performance

Boosts employee performance - human resource management

Human resources develop performance management systems. If there is no human resource professional in a company, then candidates who may not have necessary skills and expertise for the position can easily get a job in that company. Therefore, human resources are required in every workplace.

When there is a line-manager, you will have to give employee performance reviews on annual basis. You need to be open about their accomplishments and things that you think they could have done even better.

5. Conducts training

Conducts training - human resource managementHuman resources conduct needs assessments for employees. It helps to determine the type of skills training and employee development programmes that are necessary for improvement and additional qualifications.

In fact, most of the start-ups or companies in its budding stage can benefit from identifying training needs for its staff. Hiring additional staff or more qualified candidates is less expensive. This also helps reduce the company’s employee turnover and improve employee retention.

6. Controls budget

Controls budget - human resource managementIt is vital for human resources to define the processes, be it the 360-feedback review, the annual pay review or the development of a new program, as specific projects. A human resource professional need to understand a project’s broad budget.

Read Also: What Are the Recent Trends in Human Resource Management?

They control excessive spending through developing methods for trimming workforce management costs. They also ensure competitive and realistic wage setting based on studying the labour market, employment trends and salary analysis based on job functions.

7. Helps you to get jobs easily in human resource management and beyond

Helps you to get jobs easily in human resource management and beyond - human resource management

Studying a HRM course opens doors, not just in the field itself. The subjects that you undertake lend themselves to a variety of career paths and job positions in human resource management and beyond. A HRM student will learn how to manage people and build and maintain client relationships.

In fact, this is an important skill to acquire in business.  Acquiring this skill helps the HRM student to apply for any job.  Other useful skills you will learn in HRM course includes organisation, administration, multitasking, presentations, reporting and communication.

8. Offers job satisfaction

Offers job satisfaction

Job satisfaction is what we look for when choosing a job. You can find plenty of job satisfaction when working as HR manager for a company. Even in a junior position, you can see the direct results of your work very quickly and you will be able to measure the positive impact that you have made on the workplace.

These include offering someone a job position within the company, promoting from within, improving salary and benefits, introducing processes and procedures to improve staff retention and enhance staff morale and training employees.

9. Allows you to meet new people and work alongside clients and senior HR management

Allows you to meet new people and work alongside clients and senior HR management A degree or masters in HR can be a big plus, if you enjoy meeting new people and working alongside clients, colleagues and senior HR management. Working with people is an important part of any HR role and dealing with the psychology of human nature will be very beneficial for you to ride high in career.

Once you work as a human resource manager, you will become an expert at managing staff relations. This will be useful to you throughout any aspect of business and life.

10. Provides opportunities to progress

Provides opportunities to progress

Many important decisions are formed by HR departments. In fact, HR manager is a highly responsible role. If you can do this role very well and find success fast, then the senior HR positions will pay you generously due to the level of authority involved. This is yet another great benefit of studying HRM.

Conclusion

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During HRM course, you will learn to develop a strategic approach to training, recruiting and developing the company’s most important asset, its people. At the end of your HRM course, you will be prepared to handle difficult staff members, design pay structures etc.