Human Resource Management definition
For many years among the issues critical for survival of any business were considered its financial health, company competitiveness and positioning, product and market development, minimizing costs and improving customer relations. Nowadays, more companies recognize that managing people within the organization is no less important than creating a competitive product or launching a successful promotional campaign. Therefore, Human Resource Management (HRM), which concerns the management of personnel, is more often recognized as a fundamental element in any organization. It has become a common notion that an organization’s greatest assets are its people; therefore only effective management of its personnel allows organizations to achieve their goals and objectives.