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Human Resource Management ( Hrm ) And Human Resources

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This report will provide an overview of the shift in Human Resource Management from collective to individualised approaches to Employee Relations and will also explain the concept of the psychological contract and consider its importance for contemporary Employee Relations practice. “The terms ‘human resource management’ (HRM) AND ‘human resources’ (HR) have largely replaced the ‘personnel management ‘as a description of the processes involved in managing people in organisation’s” (Armstrong, 2009, p.4). “Human resource management is defined as a strategic and coherent approach to the management of an organisation’s most valued assets-the people working there who individually and collectively contribute to the achievement of its objectives.” (Armstrong, 2009, p.4). Human resource is the employees within the business, Human Resource Management is the management of the employees and to emphasis what they can bring to the business and monitor how the business can improve. “The overall purpose of human resource management is to ensure that the organisation is able to achieve success through people” (Armstrong, 2009, p.8), if the workforce feel valued, the work performance will be of a higher standard, this in tale can then boost the businesses production. Keynesianism People Management can be dated back to the late 18th century, the Industrial Revolution. Keynesianism was developed by John Maynard Keynes, a British economist in the 1930s who believed that in order to

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