Human resources are a valuable asset to the organization. They are the strength & pillars of any organization. To face new challenges, effective HRM is required. Significance of HRM can be classified as:
1. Organization significance – HRM helps an enterprise in achieving goals effectively & efficiently by:
*Better utilization of available resources.
*Developing the necessary skills among the employees by training, development, performance appraisal, etc.
*Ensuring that enterprises will have competent and dedicated employees in the future.
2. Social Significance –Sound HRM helps to enhance the dignity of labour by:
*Eliminating wastage of human resources through conservation of physical and mental health.
*Multiplication of employment opportunities.
*Providing suitable employment that provides social & psychological satisfaction to the people.
3. Professional Significance –Effective HRM leads to professional growth by:
*Providing excellent growth opportunities to people.
*Promoting teamwork & team spirit among employees.
*Developing people regularly to meet the new challenges of their job.
OBJECTIVES OF HRM
Some of the objectives of Human Resource Management are as follows-
1. To help the organization to achieve its goals by providing well trained & well-motivated employees.
2. To enhance job satisfaction as well as the self-actualization of the employees by encouraging them to realize their potential.
3. To fully utilize the available human resources effectively.
4. Establish and maintain friendly relations between the employee & management.
5. To reconcile individual as well as group goals along with organizational goals.
6. To develop & maintain the Quality of Work Life (QWL) of employees.
BBA TIAS, New Delhi