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