The human factor is of increasing importance in modern economy and it designates work force, i.e. employees within an organization. Development of human resources management has led to changes with regard to observing human resources, realizing their importance and effect on business of an organization. In early stages of this concept, the human factor was perceived as all other factors in the organization, however, today it is essential for efficient and effective business. Today, human resources and human resources management represent the key of success and achieving the competition advantage for every organization. The concept of human resources management represents a totality of functions which have to be connected and harmonized in order for the organization to meet the competition challenges and have a motivated and dedicated work force. The entire process of human resources management includes work analysis, planning, recruitment, selection, development, training and education, and management of working success of human resources. It is in fact the people that are the key of economic progress whereas the business of each single organization depends on their quality. In order for organizations to succeed in achieving their goals, they must procure to always have the appropriate people with necessary knowledge, skills and abilities.