Human Resource Management focuses on recruiting, managing, and nurturing employees of any company. HRM directly impacts the growth of a company and therefore, is one of the most vital blocks of a company’s structure.
Now, let’s talk about the most crucial organizational objectives of HRM:
Human Resource Management: Definition and its Roles
Expanding on the earlier definition, human resource management is the department that deals with talent and performance planning and development and therefore in addition to hiring, plays a role in business planning, resource allocation, expectation setting, retention, performance assessment, and employee experience.
The main responsibilities of the HRM include:
- Hiring the best-suited people as per the business plan
- Designing employee policies as well procedures for the organization
- Implementing talent assessment and development processes
- Assessing and enabling a good employee experience
4 key Functional Objectives of HRM
The key functional objectives of HRM assist in achieving Organizational Goals Enhanced Performance Tracking and Assessment
One of the top objectives of HRM is to fulfil core Organizational Goals. For this, HR partners in business planning and resource allocation. The Organizational Goals need to be broken down into departmental goals and further into individual goals. Goal setting at the beginning of the year ensures expectations are understood by each employee and they could plan their work accordingly. Individual challenges and support could be discussed and planned. Ultimately, employees’ work helps the company meet its goals and deadlines more efficiently.
Facilitate Effective Team Coordination
Effective team integration is at the core of any company’s success. HRM aims to find tools such as a performance management system that facilitates healthy communication among employees within a team and with supervisors in addition to giving insights on progress. As a result, effective coordination, communication, and actionable insights being one of the four objectives of HRM facilitate organizational success in the long run.
Human Resource Empowerment
One of the top 4 objectives of HRM is to keep the employees motivated so that they continuously add value to the organization. Empowering the workforce also makes it easier for employees to get things done without too many interventions from the senior leaders. Regular system-based check-ins between leaders and team members ensure the employee receives the requisite and timely guidance and motivation.
Employee Retention and Succession
Employee Retention and Success are other objectives of HRM.Employee retention is often the biggest struggle that organizations face. Providing opportunities and a quality working atmosphere are just some factors that can help with the same. However, understanding employee psyche, probability of attrition, and impact if attrition does take place are very important to ensure the efforts towards employee retention yield results. Additionally, for critical roles and those employees with a high probability of attrition along with high impact, if they attrite, succession plans are put in place to enable business continuity and manage adversities better.
Hopefully, this article clears the air about the main organizational objectives of HRM. If you’re a founder or HR manager struggling to manage the above operations efficiently, do shout out to Winzard and the Winzard team will help you with advisory as well as efficient talent and performance management technology.Our team will also help you in fulfilling the objectives of HRM with our best HR performance management