Personalwirtschaftssysteme

Personalwirtschaft, often translated as personnel economics or human resource management (HRM), is a field within business economics and management that studies how organizations acquire, develop, deploy, and retain their workforce to create value. It integrates economic reasoning with organizational behavior, law, and sociology to explain how people contribute to firm performance. The term is commonly used in German-speaking contexts and areas of Europe, and it covers both strategic concerns and operational activities related to people in the workplace.

Its core areas include workforce planning and recruitment, selection and onboarding; learning and development; performance management and appraisal; compensation, benefits, and incentives; labor relations, workplace safety, and compliance with employment law; and organizational development and change management. With the rise of data-driven management, HR analytics and information systems are increasingly used to inform decision making, predict turnover, assess training effectiveness, and optimize staffing. The field emphasizes evidence-based approaches to optimize efficiency, engagement, and productivity.

Strategically oriented Personalwirtschaft views human capital as a critical resource and seeks to align HR practices with business objectives. It supports talent management, succession planning, and organizational culture in order to sustain competitive advantage. Practices vary across countries due to legal frameworks, collective bargaining, and cultural factors. Contemporary discussions also address diversity and inclusion, work-life balance, digital transformation, and sustainable human resource management within broader corporate strategy.