Development and Stability of Human Resources

HR transformation is a process of realigning an HR function to the strategy and goals of the organization so that HR can become a true partner in success. The goal of HR transformation is not simply to improve the efficiency of processes within the HR function, but to improve the function‟s effectiveness. It addresses all elements of the HR organization, including how it is structured, how people are deployed, how technology is used, how processes are designed and how services are delivered. "Human capital" is sometimes used synonymously with human resources, although human capital typically refers to a more narrow view; i.e., the knowledge the individuals embody and can contribute to an organization. Likewise, other terms sometimes used include "manpower", "talent", "labor" or simply "people". HR is a product of the human relations movement of the early 20th century, when researchers began documenting ways of creating business value through the strategic management of the workforce. The function was initially dominated by transactional work such as payroll and benefits administration, but due to globalization, company consolidation, technological advancement, and further research, HR now focuses on strategic initiatives like mergers and acquisitions, talent management, succession planning, industrial and labor relations, and diversity and inclusion.