IMPORTANCE OF HUMAN RESOURCE MANAGEMENT (HRM)

            The significance of Human Resource Management can be discussed at four levels namely corporate, professional, social and national.

          Significance of Corporate Enterprise:            

                    Human Resource Management can helps an enterprise in achieving its goals more efficiently and effectively in the following ways.

•  Attracting and retaining the required talent through effective Human resource planning, recruitment, selection, placement, and orientation compensation and promotion policies.
• Developing the necessary skills and right attitudes among the employees through Training, development, performance etc.
• Securing willing co-operation of employees through motivation, participation, grievance handling etc.
• Utilizing effectively available Human Resources.
• Ensuring that the enterprise will have in future a team of competent and dedicated employees.                                                                                                                                            
• Professional Significance:

                 Effective Management of Human Resources helps to improve the quality of work life. It permits team work among employees by providing a healthy, working environment. It contributes to professional growth in the following ways.

• Providing maximum opportunities for personal development of each employee.
• Maintaining healthy relationships between individuals, and different work groups Allocation work property.                                                                                                                                                                                                                                                                                        
• Social Significance:

                Sound Human Resource Management has a great significance for the society. It helps to enhance the dignity of labour in the following ways.

• Providing suitable employment that provides social and psychological satisfaction to the people.
• Maintaining a balance between the job available and the job seekers in terms of numbers, qualification, needs and aptitudes.
•  Eliminating waste of human resources through conservation of physical and mental health.                                                                                                                                                                National Significance:

             Human Resources Management play a vital role in the utilization of nation’s natural, physical and financial resources require an efficient and committed manpower. There are wide differences in development between countries with similar resources due to differences helps to speed up the process of economic growth that in turn leads to higher standards of living and full employment.

Human resource management has become very significant in recent decades due to the following.

• Increase in the size and complexity of organization e.g. a MNC employing million persons.
•  Rapid technology developments like automation, computerization etc.
•  Rise of professional and knowledgeable workers.
•  Increasing proportion of women to the work force.
• Growth of powerful nation-wide trade unions.
• Widening scope of legislation designed to project the interests of the working class.
• Revolution in information technology that might effect the work force.
• Rapidly changing jobs and skills requiring long-term manpower planning.