Of all the departments in a corporate firm, the management has to realize and follow the Importance of Human Resource Management in the most crucial and significant manner.
It plays an imperative part in shaping up with overall work culture and environment of the company. It also helps the management of the firm to accomplish its short term and long term objectives in an efficient and effective manner.
The Importance of Human Resource Management
1) Recruitment decisions
For the company to grow in leaps and bounds and attain the objectives of elevated profits, higher sales of products and services offered, and an enhanced brand value in the market along with the other crucial ones; it needs a strong support of the internal employees that are expert and talented enough in their work duties and responsibilities.
And here comes the role of the human resource management to recruit the employees and staff that are expert, experienced, and highly professional in nature and their approach. Plus the hired staffs have to be well aligned with the values and objectives of the firm.
A lot of recruitment decisions are based on the expertise and proficiency of the human resource management department of the firm.
2) Training and development
The management of the firm has to understand and follow the Importance of Human Resource Management owing to the changing and evolving dynamics of the market. The employees of the firm have to be on par with the latest technologies and work methodologies to help the firm attaining its aims and objectives. And to accomplish the same the employees need training and development.
And human resource management department has to plan and execute various seminars, programs, orientations, and inductions to appraise the employees as per the latest developments in the market that in turn will help the firm to accomplish its goals and objectives.
3) Performance appraisals
Annual performance appraisals are one of the most important fundamentals of the corporate firms irrespective of big or small in size. And this activity is planned, designed, and executed by the human resource management department of the firm and plays a very crucial role in employee motivation, required training and development, deciding on the annual pay packages depending on the performance of the employees, and the overall work culture and environment of the firm.
Hence, it is quite imperative for management to realize the Importance of Human Resource Management.
4) Employee motivation
Human resource department of the firm plays quite an important role in keeping the employees motivated to fulfill their roles and responsibilities assigned in an efficient and effective manner.
Right from the annual performance appraisals, pay packages, deciding on their roles and responsibilities based on their knowledge and experience, and giving them challenging tasks to make them realize their potential; comes in the kitty of the human resource department that helps to keep the motivation levels consistent of the employees.
5) Solving issues and grievances of the staff
At the workplace, quite many issues, problems, and grievances crop up amongst the employees of the same department, inter-departments, and even between the employees and the management of the firm amidst the accomplishment of goals and objectives of the firm.
It is the role and responsibility of the human resource management department to solve all the issues and problems of the employees. Plus the team has to keep in mind the decision arrived to solve the issue is in the benefit of the firm and enhances the brand value of the firm in the minds of the employees and in the industry as a whole.
6) Formulating policies and compliances
In order to have a successful streak in the market and industry as a whole, the firm needs to have a well-defined set of norms, policies, and compliances. And they should cover all the stakeholders of the firm including internal employees, customers, investors, vendors, third parties, and others.
Formulating policies and compliances is the duty of the human resource management department keeping the interests, business ethics, core values, aims, and objectives of the firm in mind.
7) Keeping the work atmosphere positive
It is also the main role and responsibility of the human resource department to keep the working environment of the firm healthy and positive in nature.
The department has to plan various off sites for the rejuvenation of the employees along with attaining the work tasks, celebrating annual festivals amidst all cheer and frolic, planning corporate events, celebrating birthdays and work anniversaries of employees, and even impromptu meets and get to gathers to ease out the stringent work atmosphere.
8) Maintaining public relations
When the management of the firm realizes the Importance of Human Resource Management department, there is a sudden elevation in the company’s public relations with the industry experts, veterans, vendors, customers, employees, and all the other stakeholders.
As one of the main tasks and responsibilities of the HRM department is to maintain good, fruitful, healthy, and long term relations with all the stakeholders of the firm by keeping various corporate events and functions keeping them informed about the latest developments about the firm.
9) Attracts talent
Majority of the job aspirants have the parameter of having a positive and resourceful human resource management department as it takes care of their issues and problems if any. And the firm will surely attract quality and talented workforce if it has a well placed and motivating human resource department.
With all the above-discussed points, it is very crucial for all the industry domains to realize and follow the Importance of Human Resource Management as it brings loads of benefits and attributes for the firm.
As they always say, the human resource department is one of the most significant and imperative departments of every firm.