Importance of HRM (Human Resource Management) in Organizations

The discipline of HRM kept strategic importance for the buisness organizations. Some of you might asked very genuine question that how ? 

The answer to this question is human resource is the most important resource for the companies as compare to other resources like Financial Assets, Buildings and Products, Automobiles, Market reputation (Tangible or non tangible). Because these people plan, develop, work and devoted themselves for the success of the organization if rightly selected and keep managed continuously

To ensure the success, the HRM department of an organization must hire and recruit the most optimal workforce by following best practices of HRM and then compensate, carried out performance appraisal, arrange training and development programs to achieve organizational goals. 

In the opposite direction if the management fail to apply any recommended approaches in the practice of hiring, firing, compensating, or any other HR element, this will lead to company failure and cost it heavily.

Therefore a proper and practicing HRM department in a business organization is very crucial to meet the real world challenges like globalized competition, for increasing shareholders wealth, to fulfill social responsibilities etc.