Human Resource Management (HRM) is a functional approach of an organization to recruit, manage and provide effective guidelines to employees to achieve its organizational objectives. It involves process of recruiting, retention, training and development, motivation, administration and compensation. HRM aims to increase organizational effectiveness and achieve its goal by optimum utilization of its human resources. Recruiting, retaining and developing its high quality talent are the critical factors for any organization success. The objective of this report is to discuss and identify HRM policies to ensure retention and development. The four major elements that have been discussed in this report are HRM policies, Recruitment, Retention and Development and Motivation.
2.0) HRM Policies:
Every organization has its own HRM policies framed according to its business activities. As per Armstrong (2006) HRM policies provides framework in defining whereby these organizational values, principles and strategies can be applied and assigned in specific areas. The purpose of HRM policies is to identify, recognize job responsibilities and expectation level at work. It ensures fair and equal treatment with upright reward systems. It enhances job security and creates opportunities for training, retention and career development. It also ensures all rules and codes of conduct relating to employment are being followed. HRM policies of an organization should be balanced, controlled, precise and flexible to be in line with the current market situation. HRM policies accomplished can set up its standard of behavior and disciplinary process to meet its obligations. Efficient and sound HRM policies can also help to maintain and develop the desired organizational culture.
2.1) Harvard Map:
Beer et al (1984) argued to determine effective HRM policies it should be analyzed by an appropriate method. The famous Harvard Map of HRM was designed by him as per Figure 1