Human resources are the collection of individuals who work in an organization and form its workforce. Human resources are also sometimes known as human capital, but the term human capital has a narrow view where individuals working in the organization are seen only from the viewpoint of the knowledge that they have and how that can be useful to the organization. There are also many other terms that are commonly used for human resources and they are ‘manpower’, ‘labor’, ‘people’ or ‘talent’.
Human resources have to be managed and the professional discipline and business function which manages the human resources of an organization is known as human resource management.
Human resources are extremely important for the success of an organization. They are the assets of an organization who aid in achieving the organizational goals. Human resource is the total skills, knowledge, aptitudes, abilities and talents of the workforce of an organization. The beliefs, values and ethics of the individuals who form the workforce of an organization, are also part of human resource. In the present environment which is extremely complex and competitive, growth of an organization is not possible without proper human resource. So, every organization now focuses on the human resources for their progress.
Human resources are quite similar to any other resources, in the way that the management can use the knowledge, skill, talent, etc of the workforce by developing their skills and using them for the benefit of the organization. Human resource management oversees the human resources of an enterprise. It is the process of developing and managing the human elements of an organization. It does not only manage the skills of people but also works on their aspirations and attitudes.
When an individual comes to an organization, he does not only come with technical skills, experience and knowledge, but also with his perception, personal feelings, values, attitudes, etc. So, human resource management oversees every aspects of human resource to develop and manage them, not just for helping the organization to achieve its goals but also for providing self satisfaction to the individuals working in the organization.