Human resource management (HRM) is the process of acquiring, training, appraising, and compensating employees, and of attending to their labour relations, health and safety, and fairness concerns.
Human Resource Information System (HRIS) is an organized procedure for collecting, storing, maintaining, retrieving and validating data needed by an organization about its human resources. It is usually a part of the organization’s Management Information System (MIS).
HR Audit is like an annual health check-up, it plays a vital role in encouraging the sense of confidence in the Management and the HR functions of an organization. It is a comprehensive evaluation of existing HRD strategies, systems, styles, skills and culture and their appropriateness to achieve the short term and long term goals of the organization.
International businesses are required to recruit, train, motivate, nurture and retain apart from effectively utilizing their services at all levels of functioning be its corporate office, at the foreign production units plants, therefore, the process of procuring, allocating and effectively utilizing human resources in international business is called International Human Resource Management.
Human Resource Accounting is about identifying and measuring data of human resources. It is used to develop a financial assessment of people in the organization during a particular time period. It is also about evaluating the economic result of investment in people.