What is HRM and its role in a company?

What is Human Resource Management (HRM) and how does it play a significant role in a success of a company?

Human Resource Management (HRM) is also referred to as Human resources (HR). They play an essential role in companies overall growth. A strong resource management contributes to a smooth working of a company. Key role of HRM is managing organisation’s employees, planning and implementation, creating policies of the company and ensuring that employees adhere to them. They are also responsible for employee recruitment and retention, employee exit, training and development, orientation and induction, payroll, compensation and remuneration, employee benefits and HR strategic management.

HRM plays a vital role in company’s success because they are the people who are responsible for staffing. They conduct recruitment drives and job fairs and hire best person for the job which contributes to company’s growth and production.