HRM is helpful not just to the company, the employees working in that, and additionally, people, in general, think that it’s valuable. The objectives of an HR Management Company are as follows:
1. Organizational Objectives:
HRM is a way to be more productive and efficient. It serves other useful areas, in order to assist them with attaining productivity in their jobs and to accomplish goals with efficiency.
Hiring the right man for the right task at the right time, creating through right sort of training, using the chosen workforce, and handling the workforce are some of the main goals of HRM. Succession planning is an essential issue to be taken up as a contemporary organizational goal.
2. Functional Objectives:
HRM performs such a large number of tasks for different divisions. Nonetheless, it must see that it does not cost more than the benefit delivered.
3. Personal Objectives:
In this present world, there is a lack of requisite talent. Employees constantly feel the need to change jobs in order to receive better job benefits. HRM has the duty to hire, train, use, and retain employees.
This can be done only when the HRM enables employees to accomplish their own objectives to get their dedication. Making work-life balance for the employees is an important goal.
4. Societal Objectives:
HRM must see that the lawful, moral, and social issues are appropriately taken care of. Equal opportunity and equal pay for equal work are the legitimate issues not to be disregarded. To deal with people whose land was acquired for the organization and tribals who had to relocate due to this are the moral issues.
The outcomes are clear when these issues are not dealt with. To help the general public by producing business opportunities for men and women, making schools and dispensaries are the social duty issues.
The extent of HRM is, without a doubt, extremely huge and wide. It incorporates all exercises –from employee planning till employee leaves the organization. Here are the scopes:
1. The Employee or Personnel Aspect:
This is regarding recruitment, manpower planning, placement, selection, transfers, promotions, training, lay-off, remuneration, incentives, efficiency, and so forth.
2. Welfare Aspect:
It manages working conditions, and luxuries, for example, crèches, rest and break rooms, canteen, transport, medical help, wellbeing and security, recreation facilities, and so forth.
3. Industrial Relations Aspects:
This includes management-union relations, collective bargaining, joint consultation, complaints and disciplinary activities, settlement of disputes, and so on.
The meaning of HRM depends on what managers do. The tasks performed by managers are basic to all organizations. The tasks performed by human resource management can roughly be classified into two categories, namely:
(1) Managerial functions
(2) Operative functions
Note that the operative and managerial functions of HRM are performed along with one another in an organization, be it small & large organizations.