Human resources are one of the most important components of a solid business model. Without proper human resource management, your infrastructure becomes fragmented, hindering your productivity and strategic goals.

There are 7 key goal-setting strategies for excellent human resource management which can enable success that:

• Helps the organization reach its goals.
• Ensures effective utilization and maximum development of human resources.
• Identifies and satisfies the needs of individuals.
• Achieves and maintains high morale among employees.
• Provides the organization with well-trained and well-motivated employees.
• Enhances employee capabilities to perform the present job.
• Inculcates a sense of team spirit, teamwork and inter-team collaboration.

How Can a Small Business Accomplish The Goals of Human Resource Management?

1. Human resource or manpower planning: The effective planning of manpower helps keep resources and overhead to a minimum, while eliminating waste. Making sure you have the right person for the job the first time reduces costs by avoiding new expenses incurred through the recruitment, rehiring and retraining process.
2. Recruitment, selection and placement of personnel: There should be a comprehensive plan in place for the recruitment, selection and placement of personnel to ensure you hire capable employees that can not only perform the tasks expected of them but also in making sure they are a good fit for the culture of the organization.
3. Training and development of employees: Training and development is a key component of hiring and retaining good employees that will have longevity within your organization. Making sure they are well-equipped and continue learning will enhance the level of productivity and boost morale.
4. Appraisal of performance of employees: Employees need to know how they are doing in their position. Good human resources managers take the time to provide ongoing feedback to keep the lines of communication open while allowing employees an opportunity for improvement.
5. Remuneration of employees: Making sure employees are paid according to the industry standard or better will ensure you have happy, productive and loyal employees. Pay is one of the most crucial components of an organization. Human resources personnel should closely monitor what employees are paid, making sure they are properly compensated.
6. Setting general and specific management policies for the organization: Every organization has specific policies for their employees. It is very important that all employees know and understand these policies through new hire training, an employee handbook, and updates reflecting any changes in policy or within the organization. Employees who are vested in the success of the organization should be viewed as important stakeholders that make a difference.
7. Developing and maintaining motivation for workers through incentives: Good companies offer incentives for their employees, even if it’s something small. Companies who encourage work and home life balances tend to have more stable organizations as a whole. The human resources management team should make a concerted effort in creating incentives that will not only assist employees at work, but can benefit their families as well.

Establishing and maintaining these objectives of human resource management within your organization is a key part of creating a well-thought strategic plan. All of these components should be part of a comprehensive human resources management plan to ensure your organization is poised to succeed and reach your goals.