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The world’s way of working has changed, and so has how people spend time at work. Demands for employees have changed too. Technology is at the forefront of everything.
The use of HRM software in future is rapidly increasing as businesses strive to become more efficient and productive. Roles are becoming specialized, and the workforce needs to constantly upskill to stay relevant in the market.
What is Human Resource Management (HRM)?
Human Resource Management, Simply Put, Refers To The Administration Of Human Resources.
HRM means Human Resource Management. Human Resource Management typically means to engage, improve and preserve sufficiently capable employees, to implement the activities essential to achieve organizational aims.
The main aim of HRM is to maintain adequate levels of productivity by ensuring the right people with the right skills occupy the right job position in the organization. The purpose of Human Resource Management lies in the successful utilization of people to attain specific as well as organizational goals.
This includes both the personnel (i.e., hiring employees and upholding employee information); and payroll function (retaining the employee information associated with employee payment).
It’s essential to choose an HR management approach that aligns with your organizational goals and culture, is cost-effective, and provides a positive employee experience. HRM involves a range of functions, including Managerial, Advisory, Human Resource Planning and so on.
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Role of HRM
The role of HR isn’t about ‘hiring and firing’ anymore.
It is more than that. HR is now a management pillar for the business taking care of hiring, retention, budget planning, payroll management, employee development, etc.
It’s also why modern companies are embracing changes across HR objectives. They’re aligning them with those of the organization.
Let us therefore know the main objectives of HRM.
10 Main Objectives Of HRM
1. Organisational Objectives
Human Resource Management is a method to realize competence and drive efficiency in organizational work.
Therefore, its chief determination remains in accomplishing organizational goals. It has to benefit organizations by outlining clearly defined aims and achieving them.
Apart from meeting the organizational goals, Human Resource Management also describes the key problems to be taken care of and governs rules and urgencies.
It engenders organizational efficacy, by hiring efficient people, training them and effectively employing the workers.
It should also develop the service that organization provides to the society through structuring employee confidence in a positive direction, which is at the front of effectual individual and group performance.
2. Functional Objectives
Human Resource Management is responsible for coordination and harmonious functionality within, and between different departments.
The resources are organized to achieve business objectives. Also, it is to be made certain that there is functional utilization and all-out growth of human resources.
Human Resource Management should aim at making effective use of the workforce through proper direction of the organizational sectors.
This includes refining the conditions for successful outcomes, by making appropriate decisions about human resource planning, recruitment, evaluation, rewards, training and improvement and staff associations that are reliable and sustain the business strategy.
3. Personal Objectives
It has become harder than ever for companies to hire and sustain capable people because of the rising global competition. Add to it, the lack of sufficiently skilled personnel.
As such, it becomes an undeniable priority for Human Resource Management to hire and train the right talent.
It should be ensured that there is an environment of respect among people in the organization, and individual needs are catered to.
The HR strategies, policies and ideas for individual improvement must be cohesive with the organization’s strategic goals.
It should gratify individual objectives of employees so that personal and organizational objectives can be aligned, conducive to reaching maximum productivity and establishing a certain competitive edge.
4. Societal Objectives
It must be the responsibility of Human resource management to ensure that legal, ethical, and social environmental issues are suitably dealt with.
It must make sure that the human resources are officially and compliantly coped with and their requirements are recognized and fulfilled.
It should also consider societal ethics and undertake social responsibility.
It must also try to enhance organization’s competitive advantage through social strategies, by pitching in ethically to the necessities and challenges evolving in the society.
The societal objectives also involve legal issues such as equal opportunity and equal pay, which should be given due concern.
5. Achieve Organizational Goals
One objective of HRM is to set and achieve goals. These objectives include workforce management, staff management, employee onboarding, payroll processing, etc.
Without set parameters for every process, things can soon go downhill. Manual processes are a problem too.
With the employee count growing, nobody should spend their time entering data into registers or excel sheets.
Automation of these processes allows HRs to spend time on making decisions.
6. Team Integration
The process of team integration is crucial for any organization, as it sets the stage for how the team will work together.
Integration can be challenging, as it requires team members to come together and learn to trust and rely on each other.
HR plays a key role in team integration, as they are responsible for setting the goals of HRM and ensuring that everyone is on the same page. Additionally, Human resources must support team members as they transition into their new roles.
The right tool, like the self-service portal, can bring employees closer to HR folks.
7. Employee Empowerment
Workforce empowerment is a critical aspect of human resource management that involves creating an environment where employees feel valued, motivated, and engaged in their work.
HR plays a critical role in creating this environment by developing policies and procedures that encourage employee growth and development, providing opportunities for learning and training, and fostering a culture of openness and collaboration.
Empowering them with tools like ESS portal can help save HR efforts too. HRM can help to increase job satisfaction, boost productivity, and reduce turnover rates.
Overall, a strong focus on workforce empowerment is crucial for organizations to attract and retain top talent, drive innovation, and achieve long-term success.
8. Employee Retention
Employee retention strategies have become essential to human resource management (HRM). HR professionals must develop effective retention strategies to ensure that their organizations can attract and retain top talent.
Such strategies typically involve an approach to employee engagement and satisfaction, including ongoing training and development programs, competitive compensation and benefits packages, regular performance evaluations, and a culture of open communication and feedback.
By prioritizing employee retention, HR professionals can create a more stable and productive workforce, improve organizational performance, and ultimately achieve long-term success.
9. Compliance and Data Management
Compliance and data management are essential aspects of human resource management. As an HR manager or professional, it is your responsibility to ensure the firm’s payroll compliances are met, otherwise fines or penalties may be imposed.
Consider the regulations and norms involved in tasks such as hiring and payroll before taking action. An effective HR team will make decisions that align with organizational goals while keeping employees in mind. Misjudgements or miscalculations can result in undesirable consequences; hence, utmost accuracy should be maintained when making decisions.
10. Positive and Healthy Work Culture
Positive work culture entails creating a supportive and collaborative environment where employees feel valued, respected and motivated to contribute to the organization’s goals. HRM professionals are crucial in creating a positive work culture by designing policies, programs, and initiatives that foster employee engagement, work-life balance, and professional growth.
Through effective communication, training, and development programs, HRM can help create a culture of innovation, collaboration, and trust that benefits employees and the organization. It can also enhance employee retention, increase productivity, and improve the organization’s reputation as an employer of choice.
FAQ’s:
Q1) What is HRM?
HRM stands for Human Resource Management. It may be defined as the practice of efficiently managing people in an organization such that it helps the organization in maximizing its profits.
Q2) What is the main goal of HRM?
The main aim of HRM is to maintain adequate levels of productivity by ensuring the right people with the right skills occupy the right job position in the organization.
Q3) How do you frame the objectives of HRM?
HRM objectives are framed by clearly defining the organizational goals and strategy map to achieve it. Then clearly define the role of HR department in fulfilling them. And align the organizational goals with HRM objectives.
Q4) What criteria is used to classify an HRM objective?
The easiest way to classify an HRM objective is to clearly define the major role of HRM, the main areas the HR department focus on and specifying the main functions of the HR department.
Q5) How do you distinguish between the aim and objective of HRM?
The main aim of HRM is to improve organizational effectiveness and promoting a happy workplace for the employees. While the objectives of HRM helps in guiding the roadmap to achieve the main aim.
