RETURN ON INVESTMENT ON HRM

Durai Pandian, Deepali Jain

Abstract


Human resource management is the organizational function that deals with the recruitment, selection, training and development, compensation, employee development, etc. activities of the organization. In the earlier centuries organizations didn’t give more importance to HR department of the organization, but now the concept has totally changed. Now a day the Human Resource Management has a strategic and cohesive approach in the organization. Most of the MNCs are having a well stabilized HR department and they are investing a lot on these departments.

 

Due to the globalization and the increased competition for the skills and competent workforce the focus of the HR department has shifted from the administrative functions to the more strategic and critical business functions as employee selection, employee development and employee retention.

 

But few companies still have some doubt in exploring the HR departments as they think that whatever they are investing on HR teams they are not getting the return on this investment because they are not able to calculate the ROI on HRM.


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ISSN : 2251-1547