Role of Hrm in Various Industries.Doc

HRM is a new discipline of Management, recently taking roots in Pakistan. Personnel Administration is its previous version that was mainly focused to strengthen of bureaucratic structure in the organization as compared to new facets of HRM that is more considerate to employees strategically aligned with the business, ultimately changing the ways organizations were run by. However it will take some time to be fully functional as it is still in its embryonic stage in most of the Pakistani organizations. WHY HRM IS SO IMPORTANT IN THE CURRENT BUSINESS DYNAMICS? ?RIGHT MAN FOR RIGHT JOB: HRM has marked its importance through TALENT SEARCH and TALENT DEVELOPMENT. Analyzing the top best 100 companies demonstrate one common characteristic i. e. Strengthened HR Departments that strategize RECRUITMENT & SELECTION PROCESS through policies of TOP MANAGEMENT. Every job got a person with the required skills, knowledge and traits that ensure right decision at the right time. ?TRANSPARENCY HRM ensures transparency in all aspects of an organization . i. e. ecruitment and selection, performance management, reward & punishment that are the baseline of employee’s motivation commitment to any organization. ?TIME SAVING HRM has been identified as tool of time saving through its various business linked strategies that saves time of business operations and processes by facilitating business clientele ultimately resulting in enhanced customer base and business results. ?COMPETITION HRM has encoura ged competition in and among organizations as the existing talent tries for excelling from each other and the same way organizations promote competition. MERIT BASED CULTURE HRM has encouraged competition that requires talented people to hold the important positions to excel in the current race of cut throat competition. The traditional approaches of nepotism are no longer to sustain in the business race. ?CAPACITY BUILDING Business world is changing every day. It requires new skills, knowledge and talents after every passing day. What works today, don’t work tomorrow. HRM is upgrading Human Resource through continuous trainings that cater for current skills inventory as well as developing for future requirements. ?IMPROVED WORK QUALITY HRM has proved helpful in improving the work quality through emphasizing provision of better working environment & conditions, focusing on employees health and counseling for employees problems that not only motivate them but also improve the quality of work. We can say that A MOTIVATED EMPLOYEE IS AN ASSET FOR ORGANIZATION WHILE A DEMOTIVATED EMPLOYEE IS A LIABILITY. ?BETTER COST / BENEFIT RESULTS A recent study published in Weekly Business Magazine, â€Å"FORTUNE† reveals that the top best 50 organizations with empowered HR functional Departments had better cost / benefit results than those with traditional Personnel Departments. INDUSTRIAL HARMONY HRM has proved itself through stabilizing industrial peace and promoting industrial harmony throughout the industry. HRM aspect of employee’s consideration reduced the communication gap between employees and top management, ultimately policies are being formulated having employees say that leads to corporate culture with ba lanced and harmonized environment. ?EMPLOYEES MOTIVATION HRM has been identified as a support function to employees through its various incentive & awards programs for employee’s encouragement that leads to enhanced employees retention trends. ?PRODUCTIVITY AND PROFITABILITY HRM basic function is to search out the best available market talent in order to maximize the organization out, contributing towards its goals and objectives that ultimately leads to increased production and profits. ?TRUE PICTURE OF MANAGENT VIEW Core HR practices reflect the Top Management’s view about employees consideration. HR policies reflect how much the Management recognize their employees contributions towards organization goals. In today’s business race, only those organizations can excel which have the best HR policies towards employees motivation, commitment and retention. OVERALL ORGANIZATIONIMAGE An organization with better HR practices is not only admired among it’s own employees but also among the employees of other organizations that have relatively weaker HR practices. Employees feel pride to have an affiliation with such organization as it becomes a symbol of social status that is a parameter of measuring an organization market image. In short if our organizations get better Human Resource, related policies and practices, they would be enjoying more productivity and related business results and ultimately contributing more towards stabilizing the state economy.