Final answer:
The correct option is (b) Human Resource Management.
Human Resource Management (HRM) involves the strategic approach to managing people within an organization, which includes hiring, training, development, and retention of employees. It ensures that the organization attracts and nurtures talent, while potentially reducing biases in the hiring process.
Step-by-step explanation:
The selection and utilization of human resources and professionals such as accountants, lawyers, auditors, board members, and others is best described as Human Resource Management (HRM). HRM encompasses a variety of functions including talent management, staffing, training, professional development, and the creation of policies to help improve the health, skills, or knowledge of the workforce. By professionalizing human resources functions, organizations can reduce biases in the hiring process and ensure the recruitment of the best candidates for the job.
Professionalism in HRM may lead to improved recruitment and selection practices, as larger organizations with dedicated HR strategies often experience a diversity of staff and may show less discriminatory hiring tendencies. Effective HRM also deals with retaining employees and aligning hiring practices with the organization's needs, which is crucial for the long-term success of any institution or corporation.
Ultimately, HRM is about making thoughtful investments in human capital, starting from hiring competent individuals and continuing to develop their skills and competences, which contributes to the overall growth and performance of the organization.