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Human Resource Management (HRM) is a strategic and comprehensive approach to managing people within an organisation. It involves recruiting, hiring, training, evaluating, and rewarding employees to maximise their performance and align with the organisation’s goals. HRM also ensures compliance with labour laws, fosters a positive workplace culture, and supports employee development and well-being. By managing workforce planning, performance, compensation, and employee relations, HRM plays a vital role in organisational success. In today’s dynamic business environment, HRM is increasingly data-driven and aligned with long-term strategic planning, making it an essential function in both large corporations and small enterprises.
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Self-Instructional Material 37
Fig. 5.1 Flow Chart Depicting ‘Human Resource Planning Model’
5.2.2 Objectives of HR Planning
From Figure 5.1, it is clear that the failure in HR planning will be a limiting factor in achieving the objectives of the organization. If the number of persons in an organization is less than the number of persons required, then, there will be disruptions in the work—production will be hampered, the pace of production will be slow and the employees burdened with more work. If on the other hand, there is surplus manpower in the organization, there will be unnecessary financial burden on the organization in the form of a large pay bill if employees are retained in the organization, or if they are terminated the compensation will have to be paid to the retrenched employees. Therefore, it is necessary to have only the adequate number of persons to attain the objectives of the organization.
In order to achieve the objectives of the organization, the HR planner should keep in mind the timing and scheduling of HR planning. Furthermore, the management has to be persuaded to use the results of manpower planning studies.
Manpower planning can also be used as an important aid in formulating and designing the training and development programmes for the employees because it takes into account the anticipated changes in the HR requirements of the organizations.
HR Planning
Self-Instructional 38 Material
5.2.3 Importance of HR Planning
HR planning is a highly important and useful activity. Without clear-cut planning, an estimation of the organization’s human resource needs is reduced to mere guesswork. If used properly, it offers a number of benefits. These are: