Career in Human Resource Management
MBA in Human Resource Management is a very lucrative career option for MBA aspirants. Human Resource Management has many aspects and roles under it. Read the article to know what it holds for you.
What is HRM?
Human Resource Management is the process of managing human resources of an organization. It involves finding, acquiring, retaining, evaluating and rewarding talents. These are the conventional processes of HRM, but it is evolving continuously with technological advancements.
As organizations expand globally the scope of HRM also expands including mergers and acquisitions, multiculturalism, labor laws and relations etc., making it one of the challenging and interesting profile.
2014- A good year for HRM!
Market forecast says the following year is going to be an exciting one for talent professionals.
As the global economy is recovering, the role played by HRM professionals will be crucial in their efforts to welcome and retain invaluable talents.
Obviously, at this juncture, there is a lot of room for HR professionals to innovate and spearhead this new wave of HRM evolution.
This trend for HRM is likely to continue for the times to come as the prospects of economic recovery seems to be much stronger.
How to become an HR professional?
An MBA degree with HR specialization can help you get on board to pursue a challenging career in Human Resource Management.
Other undergraduate degrees will fetch you an according job profile in HRM. There are diploma and other bachelor degrees associated with HRM, both on a regular and a distance mode of study.
However, an MBA degree will help you to come out with flying colors to make your passion come true in HRM.
HRM related courses:
• Diploma and executive diploma courses in HRM
• Certificate courses in HRM
• Bachelors courses including Bachelor of Business Administration with HRM specialization.
• Master of Business Administration (HR) and Executive MBA (HR)
• Post Graduate Diploma courses in HRM
HR executive profile:
There are many roles played by HR and the following are a few conventional roles.
• Employer Branding: This is one of the most important process of making the employer reputable to attract workforce; it is concerned with the image and reputation of the organization.
• Training and Development
• Performance Appraisal
• Compensation and benefits
• Employee retention
• Organizational culture
Some special functions include,
• Industrial relations
• Labor and employment laws
• Labor legislation and relations
• Merger and Acquisitions
The compensation of an Assistant HR Manager can vary around Rs. 4 lakhs per annum and that of an HR Manager around Rs. 6 lakhs per annum.
What do HR professionals learn?
To some extent HR is multi disciplinary as it has to deal with compensation calculations and organizational behavior. The following will be a part of the majority of HRM studies curriculum:
• Employee relations systems
• Occupational Health and safety
• Industrial relations
• Labor laws
• Organizational behavior and culture
• Motivational theories
• Conflict resolution
• Performance management
Institutes & Examinations
Institutes offering MBA (HR) and their corresponding competitive examinations are briefed as the prospects of job and competition are more compared to other courses.
• Indian Institute of Management (IIM): IIMs are always the most preferred place for any MBA aspirant as the world of opportunities they open for the students are huge. Even though finding a place in IIMs are difficult, with good practice and proper guidance, it can be secured.
IIMs accept CAT (Common Aptitude Test) and GMAT (Graduate Management Aptitude Test) scores.
• Foreign Universities: Pursuing an MBA overseas can give the students International exposure and a vast array of opportunities. There are also scholarships and educational loans available for overseas education, as most students find it difficult to fund their studies and stay.
An MBA abroad requires a good score in GMAT (Graduate Management Aptitude Test).
• Other Institutes: There are a number of other institutes including XLRI, Symbiosis Group of Institutes and many others. Institutes may have their own entrance examinations or may accept other standard competitive exam scores like MAT (Management Aptitude Test).
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