The impact of effective HRM practices on the organizational goals
As per Amstrong (2006) The Term & the concept used as “Personal Management” in the earlier stage of Industrial era has been changed with the time to “Human Resource Management” (HRM) where the employees have been recognized as “resource” to the company rather than a “Cost”. HRM has identified as a strategic approach of managing the employees, who are recognized as organization’s most valued asset which motivates them to collectively take part in organizational performances. According to Iain Henderson (2011), HRM may be described as “All the management decisions and actions that directly affected or influence people as members of the organization rather than job-holder” How HR makes an impact (Amstrong, 2006, p. 23) As per the depicted flowchart, it is clearly indicating the effectiveness of the combination of business & HRM strategies towards the Financial performance of the organization. An effective set of HRM practices includes a decent combination of Business