The principal objectives of HRM may be listed thus:
To help the organization reach its goals: HR department like other departments in an organization exists to achieve the goals of the organization first and if it does not meet these purposes, HR department (or for that matter any other unit) will wither and die.
To employ the skills and abilities of the workforce efficiently: The primary purpose of HRM is to make people’s strengths productive and to benefit customers, Stockholders and employees.
To provide the organization with well trained and well motivated employees: HRM requires that employees are motivated to exert their maximum efforts that their performance be evaluated properly for results and that they be remunerated on the basis of their contributions to the organizations.
To increase to the fullest the employee’s job satisfaction and self actualization: It tries to prompt and stimulate every employee to realize his potential. To this end suitable programs have to be designed aimed at improving the quality of work life (QWL).
To develop and maintain quality of work life: it makes employment in the organization a desirable, personal and social situation. Without improvement in the quality of work life it is difficult to improve organizational performance.
To communicate HR policies to all employees: It is the responsibility of HRM to communicate in the fullest possible sense; tapping ideas, opinions and feelings of customers non customers regulators and other external public as well as understanding the views of internal human resources.
To be ethically and socially responsive to the needs of society: HRM must ensure that organizations manage human resource in an ethical and socially responsible manner through ensuring compliance with legal and ethical standards.
People have always been central to organizations, but their strategic importance is growing in today’s knowledge based industries. An organization’s success increasingly depends on the knowledge skills and abilities (KSAs) of employees particularly as they help establish a set of core competencies that distinguish an organization from its competitors. With appropriate HR policies and practices an organization can hire develop and utilizes best brains in the marketplace realize its professional goals and deliver results better than others.
Human resources management helps an organization and its people to realize their respective goals thus:
At the enterprise levels:
1) Good human resource practices can help in attracting and retaining the best people in the organization. Planning alerts the company to the types it will need in the short medium and long run.
2) it helps in training people for challenging roles, developing right attitudes towards the job and the company promoting team spirit among employees and developing loyalty and commitment through appropriate reward schemes.
At the individual level: Effective management of human resources helps employees thus:
1) it promotes team work and team spirit among employees.
2) It offers excellent growth opportunities to people who have the potential to rise.
3) It allows people to work with diligence and commitment.
At the society level: Society, as a whole is the major beneficiary of good human resources practices
1) Employment opportunities multiply.
2) Scarce talents are put to best use. Companies that pay and treat people well always race ahead of others and deliver excellent results
At the national level: Effective use of human resources helps in exploitation of natural, physical and financial resources in a better way. People with right skills, proper attitudes and appropriate values help the nation to get ahead and compete with the best in the world leading to better standard.
Importance of HRM
Good HR practices help:
1) attract and retain talent
2) train people for challenging roles
3) develop skills and competencies
4) promote team spirit
5) develop loyalty and commitment
6) increase productivity and profits
7) improve job satisfaction
8) enhance standard of living
9) Generate employment opportunities.