The term HRM indicates that people are key resources of the firm that must be actively managed and developed.

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HRM (Human Resource Management) is the management of personnel or human resources in an organization. It recognizes that the people working in an organization are its valuable asset and hence, should be managed and developed efficiently to achieve the organization's objectives. HRM stands for Human Resource Management, which refers to the process of managing the human resources of an organization. This includes recruitment, training, development, and retention of employees. The term HRM emphasizes that people are not just passive resources but active contributors to the success of the organization, who must be managed strategically and with a focus on their development and well-being.

The Term HRM Indicates That People Are Key Resources of the Firm