Importance of Human Resource management:
Business today is enlarged from manufacturing and selling to placing right people at right position. Human Resource Management provides an international forum for discussion and debate to promote the understanding of the importance of human resource management and people management to business strategy. Human resource management (HRM), as defined by Bratton, J. & Gold, J. (2003), is "A strategic approach to managing employment relations which emphasizes that leveraging people's capabilities is critical to achieving sustainable competitive advantage, this being achieved through a distinctive set of integrated employment policies, programmes and practices." According to this definition, we can see that human resource management should not merely handle recruitment, pay, and discharging, but also should maximize the use of an organization's human resources in a more strategic level.
The aim of this research is to point out the significant role of HRM in companies' success. Another aim is to make business tycoons aware of what HRM is not. The study portrays that organizations do not owe their success solely to market realities and sustainable competitive advantages, rather successful companies are those that consider their human capital as their most important asset. People are often confused with the term HRM, this research intends to eliminate the confusing in understanding HRM.
HRM functions as the link between the organization and the employees. A company should first become aware of the needs of its employees, and at a later stage, understand and evaluate these needs in order to make its employees perceive their job as a part of their personal life, and not as routine obligation. To that end, HRM is very crucial for the whole function of an organization because it assists the organization to create loyal employees, who are ready to offer their best.
Is HRM really...