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Human Resource, The main HRM objective is: to help the business to achieve…
Human Resource
Objectives
Training
- help to improve quality levels, and health and safety in the workplace
- the process by which an employee can gain skills and knowledge relating to their job role or working environment
Diversity
- gives a business the ability to identify key trends by having employees which is representative of its customers
- recognising that all employees are unique individuals and creating an inclusive environment which values diversity
Talent development
- a business strategy that will help the business to keep their high flyers which means they will be more competitive and more profitable
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Influence
internal
Trading internationally
- It may also need staff who have different languages or understand the cultural quirks of the new markets
- If the business intends to enter emerging markets it will need an appropriate level of diversity to ensure success in these new markets
New product development
- If the business has developed a new product or service it may require staff with new skills to help the business to be successful for this new venture
Business growth
- If the business intends to grow inorganically through a merger or acquisition this will have knock-on effects on the HRM objectives, as there may be some necessary staff redundancies
- If the business is growing organically it may be looking to open new branches, which will require more staff with the right qualifications and qualities
Management approaches
- In hard HRM for example a business is only looking for staff that can follow orders
- In soft HRM the business is looking for talented employees that it can develop
- The type of management approach will influence the HRM objectives because it will dictate the skill level of the staff to be recruited
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external
Labour market
- The labour market is the availability of labour (supply) matching with the number of jobs available (demand)
Technology
- Technology and digital advancements now means that more employees than ever are able to work from home
Ethics
- The CSR or corporate social responsibility position of the business may have a huge impact on the HRM objectives in terms of wages and working conditions
The main HRM objective is: to help the business to achieve its corporate objectives and mission by providing well trained and motivated employees