Question

Describe the significance of Human Resource Management.

Answer 1

The role of human resource management is the process of acquiring, training, appraising, and compensating employees.

The significance of human resource management is given below:

1. To identify manpower needs: Determination of manpower needs in an organisation is very important as it is a form of investment.
2. To ensure the correct requirement of manpower: At any time the organisation should not suffer from shortage or surplus manpower which is made possible through human resource management
3. To select the right man for the right job: Human resource management ensures the right talent to select the right employee for the right job.
4. To update the skill and knowledge: Human resource management enables employees to remain up-to-date through training and development programmes.
5. To appraise the performance of employees: A periodical appraisal of the performance of employees through human resource management activities boosts up good performers and motivates slow performers.