TV Rao, Director, Academy of HRD feels that the corporations have not assumed the full responsibility of HRM. Actually human resources must become the business of everyone in the organization.
Top management should achieve the objective of making HRM everybody’s business by integrating HRM activities firmly with their policy making and strategic activities.
Meaning of the Terms
Mission statement helps a corporation to link its activities to the needs of society an legitimize its existence.
Objectives re the open-ended attributes denoting a future state or outcome that a corporation strive for.
Strategy is fairly broad statement of intent which show the types of action required to achieve the objectives.
Tactics are action plans through which strategies are implemented.
The HRM in the market economy is expected to play a broader role with strong impact and much more permanent in its effect
Each of the major functions of HRM is now performed along with and in co-ordination of other strategy functions of the corporations.
Recruitment and Selection
Now, the corporations perform this function on long term basis rather than like a short-term vacancy filling measure or like a campus recruitment measure. Corporations search for human resources rather than just prospective employees with the combination of knowledge, skill, creative ability, aptitude and behavior best suited for achieving the long-run objectives and strategies of the company.
Performance Analysis and Development
The objective of Performance Appraisal in modern corporations is not to punish the people. But it is to develop the people’s human resource in accordance with the changing corporate objectives and strategies. Further, the performance analysis and development aim at providing high quality work life, enrich jobs, creating empowered work teams with a view to provide conducive environment and climate to enhance employee performance.
Indian Business environment during 1990s is dynamic and changing continuously. The dynamic environment forces the management to introduce changes rapidly. These changes create gap between the required and available Human resource. Therefore the management has to develop the employees continuously to achieve and implement the corporate strategies. Further, management takes steps to develop self directed leadership, self motivated team work and self generated creativity.