10_Make_use_of_HR_organizational_.pdf

Awareness Make use of HR in case of Organizational Objective Upon completion of the subject the students will learn: Concept of HRM. Objectives of HRM. Page-1 Did You Know? HRM helps companies innovate by e...

Awareness Make use of HR in case of Organizational Objective Upon completion of the subject the students will learn: Concept of HRM. Objectives of HRM. Page-1 Did You Know? HRM helps companies innovate by encouraging employees to learn, collaborate, and try new things. This creates a culture where new ideas thrive, driving innovation and success. Source: Engagedly Page-2 Human Resource Management (HRM) Human Resource Management (HRM) is about managing people at work to help achieve the goals of the organization. It involves tasks like hiring, training, and supporting employees to perform their best. Source: Matchr Page-3 Objectives of HRM Attracting talent Developing talent Retaining talent Managing performance Ensuring legal compliance Page-4 Attracting Talent Attracting talent involves strategies like employer branding, compelling job descriptions, diverse recruitment channels, career fairs, and competitive compensation. Source: Spiceworks The aim is to create a positive image, attracting skilled candidates who fit the company culture. Page-5 Developing Talent Developing talent means boosting employees' skills and potential through training, including workshops and on-the-job learning. It enhances satisfaction, engagement, and retention, while building a skilled workforce. Source: Learn G2 Page-6 Retaining Talent Retaining talent means keeping valuable employees by creating a positive environment, offering competitive benefits, growth opportunities, recognition, fostering strong relationships, and promoting work-life balance. Source: RecruitingDaily It's crucial for minimizing turnover and maintaining organizational continuity. Page-7 Managing Performance Managing performance involves monitoring and improving employee performance to meet goals. This includes setting expectations, giving feedback, conducting appraisals, identifying areas for growth, and rewarding high performers, fostering Source: eLearning Industry engagement and alignment with organizational objectives. Page-8 Ensuring Legal Compliance Ensuring legal compliance means following rules to protect employees and the organization. This includes laws on labor, discrimination, safety, wages, privacy, and contracts. HR keeps up with laws, makes policies, trains staff, Source: 360Factors and handles legal issues to keep a fair workplace and protect the organization. Page-9 Summary The objectives of HRM are to attract, develop, motivate, and retain talent within an organization while ensuring compliance with legal regulations and contributing to the achievement of organizational goals through effective management of the workforce. Ultimately, HRM aims to create a positive work environment where employees can thrive, leading to increased productivity, satisfaction, and organizational success. Page-10 Check Your Understanding 1. What are the primary objectives of HRM? a) Maximizing profits and minimizing costs b) Ensuring legal compliance and minimizing turnover c) Attracting, developing, motivating, and retaining talent d) Setting organizational goals and objectives Page-11 Check Your Understanding 2. Which of the following is not an objective of HRM? a) Enhancing employee satisfaction and engagement b) Achieving organizational goals through effective workforce management c) Maximizing shareholder wealth d) Ensuring fair and equitable compensation practices Page-12 Check Your Understanding 3. One of the objectives of HRM is to ensure compliance with legal regulations. a) True b) False 4. The primary objective of HRM is to maximize shareholder wealth. a) True b) False Page-13 Check Your Understanding 5. The objectives of HRM include attracting, developing, motivating, and ________ talent within an organization. 6. HRM aims to create a positive work environment where employees can thrive, leading to increased productivity, satisfaction, and ________ success. Page-14 Answer Keys 1. c 2. c 3. True 4. False 5. retaining 6. organizational Page-15