By | Tom Dexter
Human resource or the human capital or the employees working in a company are its most valuable assets and human resource is what makes the company going on. But to manage and retain and recruit the employees, a particular team of managers are needed to take care only of the employees. Thus, human resource management (HRM) is defined as the efficient management of people in a company. Human resource management forms a bridge between the employees and the employers and assures growth for the company by developing the human resources.
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Objectives of A Human Resource Management System in A Company
The main objectives of the HRM of an organisation are:
- To motivate, utilise, create and provide employees to achieve the goals.
- To secure integration of group and individual to attain effectiveness in a company.
- To create opportunities, to provide facilities and motivation to the groups and individuals for their growth along with the organisation’s growth by compensation, development, training etc.
- To employ the ability and skills of the employees efficiently.
- To increase the self-actualisation and job satisfaction of an employee to the fullest to make the employees realise their potential.
- To maintain ethical behaviour and policies both outside and inside the company.
- To maintain good human relations and high within the organisation.
Why Is It Important for The Growth and Development of a Company?
Human resource is considered to be the biggest asset of the company. The importance of Human resource management can be viewed in two contexts:
- Organisation significance: In order to achieve organisational objectives, human resource management is very important,
- With the help of performance appraisals, training and development, the right attitudes and necessary skills have to be developed among the employees
- Effective utilisation of available human capital.
- Professional significance: This lies in the developing the people and giving them healthy environment for their capabilities to be effectively used by:
- Continuous development of the people
- Promotion of team spirit and team work.
- The people who have the potential to rise must be offered with opportunities.
5 Ways to Improve the HRM To Yield Better Revenues for A Company
There are multiple ways to enhance the relationship between the employees and employers and yield success for the company.
- Your hiring process needs some improvement. Invest in the employee’s pre-employment screening and judge the candidate as far as you and determine their potential. After making the candidate go through the levels of recruitment, select them on the basis of a final personal interview.
- Impart proper knowledge and education to your employees. Knowledge knows no bounds and thus you should keep updating your employees’ skills and focus on their skill gaps. Once a week, ask them to enroll in an online course that would help the company in increasing their profits.
- Be specific about your expectations. All the employees must be aware of the norms of the company and know that any unwanted behaviour would result in extreme bad consequences.
- Introduce rewards and recognition. These would motivate the employees, make them more hard working and achieve even the strict deadlines of the project. Set weekly goals for them and offer them a free lunch, a cash bonus or maybe a trip for a bigger target. Acknowledge the employees in front of everyone in the office.
- Utilize the HR software. This software will replace the laborious process of recruitment and do the process efficiently and effectively.
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