HRM vs HRD
Human resources are an essential section of any organization, company or institute. Recognizing this importance, separate branches geared towards the development and the safeguarding of this sector has evolved over time. HRD and HRM are two such subjects that cater to this growing need today.
What is HRD?
HRD or Human Resource Development is a sort of framework that allows and aids employees of an organization to develop their organizational and personal skills as well as their knowledge and abilities. There are a myriad of practices and opportunities involved in this field. Some of them can be named as performance development and management, training, career development, mentoring, coaching, succession planning, tuition assistance, key employee identification, etc.
The main goal of Human Resource Development is to create the most superior workforce possible so that the organization has the means to fulfil their services towards their clientele better. Human Resource Development can be formal or informal: formal being tutored in a classroom or an organized effort while informal may be on the job training by a manager.
What is HRM?
HRM or Human Resource Management is an organizational function that has been thus introduced with the aim of maximizing the performance of the employees. HRM focuses on policies and systems and deals primarily in the manner in which people are managed within organizations. HRM deals with a number of activities such as employee training, recruitment, performance appraisals as well as duly rewarding the employees. In doing so, HRM must also make sure that organizational practices are kept in line with the rules and regulations of governmental laws, thereby ensuring a balance between industrial relations as well.
At the beginning of the human resources movement in the early 20th century, HRM was defined by duties such as benefits and payroll administration and transactional work whereas today with globalization, HRM has come to focus upon strategic initiatives such as talent management, succession planning, industrial and employee relations, and inclusion and diversity.
In order to cater to the growing need of HRM, professionals, universities, higher educational institutes all over the world have introduced various courses and degrees that will allow individuals to gain the necessary knowledge needed for this field. In order to be qualified for a position in HRM, one needs to possess educational qualifications befitting their position.
What is the difference between HRD and HRM?
HRD and HRM are both practices that deal with human resources of a company. Usually in large organizations, there exists entire departments dedicated to HRM where trained professionals work together solely towards the amelioration of this aspect, dealing with both HRD and HRM functions. HRD is human resource development. HRM is human resource management.
• HRD deals with functions such as performance development and management, training, career development, mentoring, coaching, succession planning, tuition assistance, key employee identification, etc. HRM deals with functions such as employee training, recruitment, performance appraisals as well as duly rewarding the employees.
• HRD is a part of HRM. HRM deals with all HR initiatives while HRD only deals with the development factor.
• HRM functions are more formal than of HRD functions.
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