Human Resource Management is crucial to the success of any organization. A lack of effective HR practices result in costing significant burdens to the organization, in the face of competitiveness and high levels of technological advancements. It costs approximately three times more to recruit and train a new employee than it does to retain and develop an existing employee. And this does not even take into account the hidden costs associated with misdirected management time spent on recruiting activities rather than effectively managing existing staff.
The fact is employees are the lifeblood of every organization. The better they are the better qualified, trained, and managed the more effective and profitable your organization will be. Performance management- One of the most widespread errors in the performance of presentation appraisals is to see appraisal as an isolated happening other than an ongoing process. Employees need to be encompassed in the conceiving of their future goals and development plans. This will help the worker seem more at alleviate and encompassed in the appraisal process; thus, producing in better work performance. Mini-appraisals should be undertaken all through the year to help with an end-of-the-year appraisal. If the data is not consistently accumulated all through the year it may not contemplate everything it desires to reflect.
The human resource department deals with policies, practices, and systems that influence employees' and volunteers' behavior, attitudes, and performance. Human resource management strategies influence the goals of the human resource department and the organization. These strategies may include analysis and design of work; human resource planning; recruitment, selection, and placement; training, development, compensation, and performance management; and separation and retention. The analysis and design of work deal with defining what tasks need to be performed and how to perform them. Resource planning explores how many individuals will be needed to perform the work. Planning, recruitment, selection, and placement address choosing the right person for the right job (Amba-Rao, & Pendse, 2001).
However, if we look into the aspect of topic HRM that got emphasize in this paper. There are various factors and problems that may arise. Moreover, I identify that the problem faced by me in the field of HRM is the effective way of teaching employees and highlighting various attributes for them. However, training, development, compensation, and performance management are tools that are utilized to enhance individuals' knowledge, skills, behaviors, and activities, and ensure they are in line with the organization's mission and goals. Separation and retention explore both involuntary and voluntary turnover of individuals. Therefore, human resource management strategies can have a huge impact on the organization's overall performance (Amba-Rao, & Pendse, 2001).
After studying the field of HRM I gained in-depth knowledge about it and came to know about several detailed things. I learned that there is fear of failure and it is one factor that is present amongst the employees. The notion highlights that there is doubt that an awful appraisal reflects contrary on the individual carrying out the ...