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MBA in HR Management
MBA stands for "Masters in Business Management." Here, "management" is the term used to manage all the activities and resources used in the smooth functioning of the business. MBA is a 2-year post-graduate degree program that is highly demanded nowadays and will continue to be in demand in the coming years. MBA makes the candidate job-ready, helps with networking, builds up leadership skills, and improves business understanding. Selection for the MBA program is done through various entrance examinations like the CAT, GMAT, CMAT, IBSAT, XAT, etc. Most Tier 1 and Tier 2 business schools select through these exams.
For the smooth functioning of businesses, the MBA is categorized into different specializations that focus on different departments of the business. The most sought-after MBA specializations are
MBA in Finance
MBA in Marketing
MBA in HR Management
MBA in Operations
The business is divided into four departments, and all these departments work in coordination to perform the activities smoothly.
Here we will discuss an MBA in HR management.
What is an MBA in HR Management?
MBA in HR Management stands for specialization in Human resources. Human resources management is a term used when you, as an HR manager, have to manage the human capital in the business. When we talk about human capital, it means how the HR manager specifies the vacant positions in the business and prepares a list of skills they need in their vacant business positions. The task of the HR manager is to recruit the right talent for the right job position in the organization, listen to the employees of the organization, have empathy toward them, and develop and update employment policies according to the changing nature of the workforce market.
HR management is a calculated and orderly approach to efficiently and successfully managing the people of an organization. HR management completely deals with the purposeful management of human capital by maintaining proper communication with the employees, listening to their problems, resolving their queries, forwarding their requests to higher authorities, and solving conflicts among the employees. Specialization in HR management helps the organization to have a strategic approach toward the company’s vision, morals, and growth, which indeed makes it the most demanded specialization in the market.
Different subjects are studied in the HR management course that helps the person understand the company’s workforce structure and employee psychology so that the HR manager can connect with the employees at the professional and personal levels.
Here are the subjects taught in the MBA in HR Management:
Organizational Change and Development
Industrial and managerial psychology
Performance management and HR audit
Industrial Relations and Dispute Settlement
Negotiation and Compensation Management
Cross Cultural Management
Teamwork and leadership
Strategic HRM and HR Analytics
Employee Welfare and Social Security
All the subjects of the specialization talk about how to recruit the desired talents into the organization and train them according to the working environment of the company. Their activities are recorded, and their performance is evaluated by the tasks they have completed in what period of time. The HR department takes care of industrial relations with other firms for the smooth functioning of the business and to maintain their goodwill in the market.
Strategic HRM deals with complex decision-making in times of crisis and depression. HR teams onboard the employees as well as fire them in times of crisis, which is a crucial decision in itself.
What is the Purpose of an MBA in HR Management?
When we think about opting for a course, we look for its uses, what values it will add to our profile, what new skills we can learn from this course, and how all these things together can help us establish a successful and rewarding career.
MBA is an expensive course, so before investing, we all want to know what we will get in return. Selecting a specialization is also a crucial decision-making step because it will cost you a lot of money, and money should be invested wisely.
If you love to be around people and helping people makes you feel good, then this HR career will suit you, HR careers demand high levels of interaction with people, whether it's inside the organization or outside the organization. You should know how to blend in with different types of people from different cultures.
You must be a problem solver. If you have the ability to solve people’s problems and you know how to calmly resolve conflict, then you should go ahead with this career.
You should know how to negotiate. While hiring the right talent, the HR manager has to take care of the budget as well as finalize the salary after negotiation. So, one should have great negotiation skills.
Leadership skills − A good leader is someone who guides the employees and takes care of their needs to improve the efficiency of tasks and maintain a good work culture in the office.
Decision-making skills − if you have good decision-making skills, an MBA in HR will enhance your tactical skills in selecting the right talent for the organization and retaining it.
An MBA in HR Management will enhance these skills and help you serve the organization's objectives with a vision to achieve the desired goal. An MBA in HR management will help you meet new people and diversify your business approach, which will help you understand business and staff needs better.
Salary and Job Positions for an MBA in Human Resource Management
The job of an HR manager is the most challenging and satisfying because they act as a bridge between the employee and the employer. They don’t just have a 9-to-5 job; they have to be active apart from that based on the situational demands of the organization.
Job positions for HR specializations are as follows.
Director of HR Training and Development
The average salary of an HR manager ranges from 2.75 lacs per annum to 15 lacs per annum. The salary varies with experience, past performance, and the goodwill of the business school. If you have graduated from a Tier 1 or Tier 2 B school, then your average salary will be higher than people graduating from other business schools.
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