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People management is human resource management (HRM), encompasses the tasks of recruitment, management, and providing ongoing support and direction for the employees of an organization.
These tasks can include the following: compensation, hiring, performance management, organization development, safety, wellness, benefits, employee motivation, communication, administration, and training.
When managing the people within an organization, a manager must focus on both hiring the right people and then getting the most out of these people.
New personnel must provide the organization with the best talent available that meets the needs of the business.
The organization must look ahead to how a new employee can be used to their fullest. Getting the most out of an employee means a business has consistent policies and practices in place to provide its people with appropriate training and development.
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Priya Singh 7 years, 10 months ago
(i) Budgeting focuses on specific and time bound targets.
(ii) Budgeting is a source of motivation to the employees they set the standards against which their performance will be appraised and thus, enables them to perform better.
(iii) Budgeting helps in optimum utilisation of resources by allocating them according to the requirements of different departments.
(iv) It helps the management in setting standards.
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