What can I do with a master’s in HR management?
Ask any successful CEO and they would agree that good human resource management (HR) teams and practices are the spines of their organisation.
In fact, employee management is such a crucial business operation that HR management has become a popular business specialisation in recent years.
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A recent CultureIQ study reported that a strong HR team gave 80% of organisations a competitive edge in the market.
A human resources career can be enthralling and exciting and allow you to meet and work with new people frequently. You can also look forward to excellent career diversity and high pay packages.
Let’s delve deeper into the intrinsic role of human resource management professionals in the corporate world and what a human resources degree can offer you in 2023.
What is human resource management?
Simply put, human resource management involves taking care of the human resources—the employees—as effectively as possible. HR management stems from the belief that employees are the most important resource for organisational development and therefore require effective care and attention.
HR teams are involved in matching the professional objectives and aspirations of the employees to the company’s growth and strategic goals. They also help address any miscommunications and conflicts so that employees can benefit from a harmonious and productive atmosphere.
What is the importance of human resource management?
HR management is a vast domain that comprises many smaller company functions and operations. While an HR manager might have to juggle several responsibilities in their day-to-day work life, some of the major ones include:
- Handing employee compensations and benefits
- Managing employee relations and expectations
- Organising recruitment and onboarding operations
- Catering to the training and development needs of the employees
- Shaping company policies and office culture
- Handling employee conflicts
- Ensuring compliance with labour and taxation laws
What sort of advantages can you enjoy if you opt for a human resource management career path?
If you want to work in the corporate world yet don’t want a typical desk job, a career in the HR planning process can be a good alternative. A HR Leadership Programme can open doors to a sea of immense career advantages, such as:
- Extremely social role – great for people-oriented and extroverted individuals
- You get to meet people from different walks of life and learn from their experiences
- Your work shapes the policies of an entire organisation
- You can earn decent compensation packages
- You can hone your networking and multi-tasking skills
- You can look forward to diverse career opportunities across different industries
- You can enjoy job security since most organisations require an HR department
What kind of transferable skills will you acquire with a human resource management programme?
Career diversity, exciting work and good pay prospects aren’t the only advantages you can gain if you study HR management. A good HR programme can also help you acquire a range of transferable skills that can be useful in other career paths as well, should you want to switch careers.
Some of the most important transferable skills that you get from an HR management programme are:
- Leadership skills and empathy
- Mentorship and coaching skills
- Business management skills
- Comprehensive knowledge of payroll management
- Organisational and multitasking skills
- Communication and interpersonal skills
- Problem-solving, decision-making and time-management skills
- Research and analytical abilities
- Negotiation and influencing skills
Who are the typical employers that hire human resource management graduates?
Owing to the fact that an HR team is important for a functioning company, almost all organisations across industries hire HR professionals to run their companies. As an HR management graduate, you can look forward to working in HRM jobs in the following industries:
- Hospitality and tourism
- Media and entertainment
- Education and online learning
- Manufacturing and retail
- Construction and engineering
- Healthcare and pharmaceuticals
- Charities and non-profit organisations
- Government entities and bodies
- Technology and scientific research
What kind of HRM careers and salary prospects can you get with a human resource management programme?
With a career in HR management, you need not worry that you need to sacrifice pay to do interesting. HR managers and professionals are often well paid in different professional domains and industries.
For example, according to a PayScale report, HR managers in Germany earn on average €48,826 per year. You can further advance your salary prospects by pursuing a master’s degree in HR management.
Here are some of the top career opportunities that you can get after your HR management graduation in Germany, along with their salary prospects.
- Employee benefits administrator, annual packages are around €78k
- HR director, annual packages are around €99k
- Human resources assistant, annual packages are around €49k
- Compensation specialist, annual packages are around €57k
- Payroll executive, annual packages are around €46k
- Learning and training coordinator, annual packages are around €42k
- HRS specialist, annual packages are around €41k
- Labour relations manager, annual packages are around €102k
- Recruitment specialist, annual packages are around €45k
There remain plenty of other interesting career choices that you can opt for with advanced human resource management courses.
Although you might cover some aspects of HR management with an MBA, your understanding will remain incomplete as it doesn’t entirely focus on the subject. You would need a programme that’s especially focused on HR operations to be successful in the HR management domain.
GISMA Business School in Germany offers a great MSc Leadership and Human Resource Management Programme that can be relevant here. This master’s in human resource management is excellent for carving out a successful HR career path in any industry and equips you with a plethora of transferable skills.
With this programme, you will be able to gain a significant understanding of employee management, coaching and staffing and payroll management. In addition, you get access to the GISMA Career Centre, which can help you secure a well-paid job upon your graduation.
Click here to enrol in the HR management and leadership programme at GISMA today!
– This article was written by Sweha Hazari.