View with images and charts A Report on Strategies of HRM & Recruitment INTRODUCTION “Our people are our most important asset.” Many organizations are using this phrase, or something close to it, to acknowledge the important role that employees play in organizational success. The quality of an organization is, to a large degree, simply the summation of the quality of people it hires and keeps. Acquiring and retaining competent employees are significant to the success of every organization, whether the organization is just starting or has been in business for years. Acquiring skilled, talented, and motivated employees is an important part of Human Resource Management (HRM). The acquisition phase involves recruiting, screening, selecting, and properly placing personnel. Human resource (HR) strategy represents key decisions that have been made to shape and guide HR programs, including staffing. HR strategies are both derived from and contribute to the formulation of the organization’s strategy. Organization and HR strategy work together to fulfill a mission and accompanying goals and objectives for the organization. HR strategy focuses on decisions about how the organization’s workforce will be acquired, trained, managed, rewarded, and retained. Staffing strategy is an outgrowth of organization and HR strategy. It focuses on key decisions regarding the acquisition and deployment of the workforce. Human resource (HR) planning is described as a process and set of activities undertaken to forecast future HR requirements and availabilities, resulting in the identification of likely employment gaps (shortages and surpluses). Action staffing plans are then developed for addressing the gaps in ways that are in alignment with the strategy. A variety of statistical and judgmental techniques may be used in forecasting. Those used in forecasting requirements are typically used in conjunction with business and organization planning. For forecasting availabilities, techniques must be used that take into account the movements of people into, within, and out of the organization, on a job-to-job basis. External and internal environmental scanning occurs after forecasting. Their results temper, and aid in interpretation of, identified employment gaps. Analysis of gaps requires determining probable reasons for them. Such reasons can serve as stimuli for and inputs into action planning. Once an organization has an idea of its future human resource needs, the next phase is usually recruiting new employees. Recruiting is the process of identifying and attracting qualified persons to apply for the jobs that are open. Some recruits are found internally; others come from outside of the organization. Internal recruiting means considering present employees as candidates for openings. Promotions from within can help build morale and keep high-quality employees from leaving the firm. There are several methods to identify internal candidates; job posting, skills inventory, nominations, succession plans, in-house temporary pool etc. External recruiting involves attracting persons outside the organization to apply for jobs. External recruiting methods include unsolicited, employee referrals, advertisements, Internet, colleges and placement offices, employment agencies, executive search firms, job fairs, internships etc.