Human resource is considered to be one of the pillars of any organization. For maintaining steady growth in productivity and excellence in operations, managing the employees is critical. The primary task of human resource managers is to control the workforce, which can be decisive of the future of any enterprise in the long run. Ineffective recruitment, random attritions, and mismanaged workforce may lead to complete chaos, and the firm may suffer losses, even leading to closure in worst cases. Therefore, every step of human resource management, starting from leafing through the job applications to finding out the most suitable candidates for managing the salary hikes and employee issues, HR plays the most critical role in keeping the operations going smoothly for any firm. Here are some of the aspects that make HR one of the most indispensable dimensions of any business organization.
Bottom line management
No business can run successfully without an efficiently functioning employee base. HR is the department responsible for hiring the workforce, managing the existing employees, and projecting the future requirements for hiring as well. Therefore, the quality and quantity of the workforce engaged in any organization largely depends on the human resource department of the organization. The bottom line management is thus done by the HR department, and it decides the quality of the overall performance of any organization.
Salaries and increments
Salaries and wages are perhaps the most important part of employee management. The salary at which an employee should be hired so that the organization would realize some profit then calculated from the productivity point is a key responsibility of HR managers only. Also, it is the HR who decides the annual increment for all the employees after receiving feedback on performance form their respective department managers. Therefore, the annual cost to the company accrued on behalf of maintaining a steady and growing workforce ultimately depends on the HR and any losses incurred, thereby becomes a responsibility of the same. Hence, carefully calculated compensations and packages are key to successful human resource management, which decides the financial health of an organization.
Internal issue resolutions
If employees face problems coping with the team, manager, or the work environment, productivity starts to slow down, taxing the growth of the organization. Therefore, it is of paramount importance that every employee stays motivated and positive throughout the working hours and no internal issues emerge during this time. HR takes care of all the internal issues that might impact the operational efficacy of the employees diminishing their productivity. Whenever required, the HR managers conduct one to one sessions with the employees in concern to figure out the problems and solve the same. It is the active participation of HR people in problem-solving that saves a company its precious employees many times.
Ensuring employee safety
Providing for a safe working place is one of the obligations that every organization has towards its employees. HR takes complete care to ensure zero hazards during working hours for every employee and also guarantee measures to ensure complete safety and sanity for everyone. Industry-specific training sessions are also organized by the HR department of the organization to make the employees aware of the methods to handle types of equipment, machines, and chemicals (wherever applicable) safely.
Training and development
Business is an ever-growing process, and to match the changing requirements of the operations, the employees must remain updated with the relevant knowledge and skills. HR department undertakes training sessions to upgrade the existing employees and introduce the new ones to the fresh ideas around the market to ensure efficient business operations.
HR is surely an indispensable domain for every industry regardless of its nature or field of operation. This makes it pretty evident that the demand for skilled HR managers is only going to rise with the rolling of time. To match the expectations of the global market, and to enable our students thrive in the highly advancing 21st-century era, we, at the Indore Institute of Management & Research, ranked among the Top 10 MBA colleges in Indore, have ensured to train our students with as much practical insights, industry exposure, and domain knowledge as we prepare them on the theoretical aspects and best practices. At IIMR, we make sure that every HR management student of ours get to gain from the mentorship of our expert faculty and absorb a lot of pragmatic experience to add an edge to their degree.