THE ESSENCE AND SIGNIFICANCE OF HR-MANAGEMENT IN GLOBALIZATION

Abstract

Significant changes and transformations are taking place in the activities of economic entities. These changes concern the economic, innovation-investment, technological, and social spheres, etc. Changes and transformations are caused primarily by global challenges. As a result, leading international and domestic companies face the problem of effective resource management. One of the important resources of the enterprise is its personnel, since the success of the implementation of business processes is closely related to the appropriate application of the professional competence of specialists. It is the professional skills and abilities of human resources, as well as their personal characteristics, that have a significant impact on making quick and effective decisions aimed at ensuring financial stability and achieving the prospects of strategic development of companies in accordance with global goals. Therefore, company managers increasingly focus on the implementation of HR management practices. This practice involves the implementation and coordination of actions related to hiring, management, motivation, professional development of personnel, etc., based on the application of effective and flexible conceptual models of human resource management. The article presents the common and distinctive characteristics of the following concepts: personnel management and human resource management. The interpretation of the economic category "HR-management" is given on the basis of the indicated differences between personnel management and human resources management. Based on the above definitions, the main approaches to understanding the economic category "HR-management" are identified: systemic, social, strategic, and innovative. In accordance with the above approaches, the basic components of the studied economic phenomenon are explained. The main functions of HR management are presented: personnel selection, training and development, motivation, and support. The main tasks are described in terms of the presented functions. The role of HR management for a business entity is schematically presented.