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HRM includes various activities, including recruitment, selection and training, performance management and compensation, benefits, and employee relations. HRM's primary goal is to create an environment that promotes the organization's and its employees' goals and needs.
HRM is vital for any organization to succeed as it ensures that the correct people with the appropriate skills and knowledge are placed in the right positions to achieve their goals. Effective HRM can improve employee retention and satisfaction, decrease turnover and absenteeism, and increase the productivity and profitability of an organization.
HRM plays a strategic role in addition to its operational functions. It aligns long-term workforce strategies with the overall business strategy of an organization. It involves assessing the organization's skills and abilities and developing strategies for attracting, retaining, and developing the talent required to achieve these goals.
HRM, as a whole, is an essential function for modern organizations. It requires skills, knowledge, and expertise from psychology, law, and management.
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