Human Resource Management Goals and Objectives

Question: Discuss about the Human Resource Managementfor Goals and Objectives. Answer: Introduction Human resource management is a concept that allows business organisations to manage their workforce using functions, such as performance management, career development, training and development, etc. with an objective of optimising the overall performance of the workplace by ensuring better working conditions for the employees and fostering better relations between employees and employers. Human resources are the most important resources in any business because nothing can function without them. In the past few decades, another concept that has surfaced is strategic human resource management, which aims at maximising the efficiency of an organisation by aligning the human resource management practices with the organisational strategies, goals and objectives. Thus, to ensure maximum efficiency and best results, it is important that human resource management metrics are incorporated into all business decisions (Sen, 2015). HRM Metrics and Decision Making The reasons because of which HRM metrics should be incorporated in the business decision making process are discussed below: First of all, it is important that the management has an idea about the labour demand and supply conditions before it plans to select a future course of strategy. The management should also consider labour turnover rates in the decision making process as it has costs associated with it and can affect the overall strategy of the company in the longer run. For example, a company planning to upgrade its manufacturing unit will have to take the employee turnover into account because it will require a larger workforce once it upgrades its manufacturing capacity. Secondly, performance of the human resources is another area of concern which the management has to address while taking business decisions. Aligning the performance metrics with the business decision making process of a company can allow the management to highlight areas of excellence or those areas where an improvement is required (Business, n.d.). Thirdly, compensation and benefits or the human resource budget is another key ar ea that should be addressed while taking important business decisions. An organisation taking a business decision should consider the human resource costs that the decision can have. For example, an organisation planning to start a small subsidiary in another part of the country will also have to consider the compensation and benefits of the freshly recruited employees and also of the ones that will be sent from the headquarters to the new subsidiary. Similarly, an organisation planning to start a pilot project will have to take employee overtime expenses into account while taking business decisions. Fourthly, when companies plan to take important decisions about starting something new or bring about changes in the workplace, they have to incorporate the training and development needs of the employees and the time period and costs associated with it. Conclusion Almost all the working of an organisation is dependent on the condition of its human resources. As a result, it is important that an organisation considers a number of human resource metrics into its decision making process so that it can align the management of its human resources with its future strategies and increase the chances of success. Bibliography Business, H. M. a. T. I. o., n.d. Heidi Cardenas. [Online] Available at: https://smallbusiness.chron.com/hr-metrics-impact-business-62267.html [Accessed 16 April 2017]. Sen, S., 2015. How Analytics Are Becoming Important For HR. [Online] Available at: https://startupfocus.saphana.com/how-analytics-are-becoming-important-for-hr/ [Accessed 16 April 2017].