HR function holds one of the most important role and respect in any company. Why so many people opt for MBA-HR across so many B Schools and is the increasing interest in Human Resource justified? Let us explore details of HR to understand this specialization better and if you should also consider taking it.
First question which would come to anyone whenever there is a talk on HRM.
What is ‘Human Resource Management’?
Human means the employees base or staff who are assets to the organization.
Resource means useful elements, which are limited.
Management means efficient use to get desired results.
Thus, Human Resource Management is the process of recruiting, training and developing the employees according to the organizational needs.
MBA in HR (Human Resource) is one of the most sought after specializations of management programmes. It is a challenging yet stimulating course of management field.
Like regular MBA, it is also a two year post graduation degree program for graduates. This course basically deals with the proper management of human resources in an organization. MBA in HRM involves the specialised training program related to human management like strategies for recruitment, selection process, hiring of employees, on boarding, talent acquisition, training and retention of employees.
Prerequisites for MBA HRM Course
An MBA in HRM is a course for those who want to develop a management career in strategic human resources. The very nature of Human Resource jobs require you to regularly meet with employees and even prospective employees for the firm. You should be a people’s person and should love interacting and knowing about new people every day. You should be patient and understanding towards others. One should be willing to work in multi cultural environment. One should definitely have business skills of leadership, communication, teamwork and decision-making. A pleasing personality is desirable in this field.
MBA in HRM aims to develop the general management skills like organizational behavior, communication skills, foundations of human resource management etc. in the first year and the advanced courses of HR and its application in the second year, along with necessary industry exposure through internship.
The students are taught key courses like strategic management, training & development, human resource development, labour laws in India, talent acquisition & retention etc. Topics such as intercultural management, leadership, employees’ relation management, negotiating with trade union etc. are also covered.
The key papers of this course are:
- Labour Relations
- Labour Legislation
- Industrial Relations
- Training & Development
- Recruitment & Selection
- Compensation & Benefits
- Labour Welfare & Social Security
Career Prospects after MBA HRM
MBA in HR are required in every company, irrespective of industry or size. They are the ones who screen potential candidates, recruit, train new employees and motivate current employees by offering them competitive compensation and other benefits. They frame company’s HR policy and make sure all employees follow it for interest of company. (Like leave policy, Promotions etc.)
There is huge number of jobs in India, and off-course there is a great opportunity to work in abroad for HR professionals. Experience adds to the position as well as pay packages.
Some of the prominent job titles of this field are:
- HR Generalist- Entry level HR manager who looks into variety of roles like getting job applications, evaluating resumes, documenting selection process, planning for recruitment drives etc. Their starting salary is around Rs. 2.5 Lakhs in India (Read more on http://www.payscale.com/research/IN/Job=Human_Resources_(HR)_Generalist/Salary)
- Staffing Director- A high ranking HR manager who takes important decisions regarding management of existing employees. He plays a key role in formulating promotion policies, recruitment needs, transfers, training etc.
- Technical Recruiter- He is a middle level HR manager who is entrusted upon evaluating the technical knowledge of prospective candidates and shortlist the ones who are good at technical. This holds more importance for knowledge based service industry like IT, Banking etc. Average salary for a technical recruiter is Rs. 2.2 Lakhs per annum in India (Read more on http://www.payscale.com/research/IN/Job=Technical_Recruiter/Salary)
- Compensation Manager- The middle level HR manage who plans, analyses and determines over the salary of existing and new employees of the firm. He makes sure the salary offered is adhered to minimum wages act and other labour laws. He determines the salary composition, bonus and any other benefits to be offered to the employees. He plays a critical role in ensuring employees remain motivated by competitive pays and regular increases at same the same time maintaining costs on wages. He is expected to earn an average salary of Rs.16 Lakhs per annum in India. (Read more on http://www.payscale.com/research/IN/Job=Compensation_Manager/Salary)
- Employee Relations Manager- These managers are responsible to maintain coordinal relationship between employees/trade unions and company management. They orgainise regular meeting for feedback and suggestions from employees and trade unions, address their complains, grievances and settle disputes among two or more employees or employees and company internally. They are expected to earn an annual income of Rs. 5 Lakhs in India. (Read more on http://www.payscale.com/research/IN/Job=Employee_Relations_Manager/Salary)
- Director of HR Training & Development- He is a top level HR manager responsible for design and delivery of training for new employees as well as existing employees. He makes sure the training sessions are fruitful and productive for the participants and results in profitability for the firm by increase in productivity of employees. He is expected to earn a package of Rs. 24 Lakhs per year in India. (Read more on http://www.payscale.com/research/IN/Job=Human_Resources_(HR)_Director/Salary)