“ HRM policies and principles contribute to the effectiveness, continuity and stability of the organization.” Human resource is the set of individuals who make up the workforce of an organization. Any successful organization does not owe its success solely to market realities and sustainable competitive advantages. Successful companies are those that consider their human resource as their most important asset.Human resource is thequalitative aspects, that actually make or break an organization. With this aspect in mind Human resource management becomes a top level priority issue for an organization. Human Resources Management (HRM) is the strategic management of the employees, who individually and collectively contribute to the achievement of the strategic objectives of the organization. Assuming that the employees of an organization are individuals with own mental maps and perceptions, own goals and own personalities, own capabilities HRM holds that the organization should be able to employ both individual and group psychology in order to commit employees to the achievement of organizational goals. The main goals / responsibilities of HRM are:
• To retain low employee turnover rate by inspiring people to work for the company • To attract new employees
• To contribute to employee development
In order to achieve these responsibilities each organization after collecting information and incidents from past experience, employees and other companys define their policies and principle. HRM policies are the guidelines which consist of the terms and conditions of the organization which should be communicated to every employ and which serves as a guide in time of decision making.Each organizations makes its own policy depending on its objective and work environment. Policies are not a hard and fast rules, each organization make policies which are somewhat flexible and can be modified with the consent of majority in order to benefit the organization. Following are...