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Why is Human Resources management a fundamental part of a business and why is it beneficial?...

Why is Human Resources management a fundamental part of a business and why is it beneficial? (Answer should be at least a paragraph long)
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Human Resource Management is the core of all the functions in an organization without the involvement of which an organization cannot perform its financial as well as operational functions as per the objective. Human Resource Management deals with recruiting, managing, developing, and motivating people, along with giving functional and specialized support and systems for employee engagement and managing systems to abide by the regulatory compliance. The contemporary environment and challenges in the business environment require high attention for human resources. This is so for the present trends of global markets both in terms of product and services and employment. The competition in the job market has intensified due to the global pressure and the dynamics of firm vs. employee behavior at the time of recruitment and selection has become transparent. This requires HRM to establish the policies and procedures to make the system for recruitment and selection to become efficient, effective, and transparent. Similarly, to ensure that the organization can compete in the global market effectively, the human resource should be trained with the latest updated skills and competencies and here also the role of the HRM is indispensable.

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