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HRM is a management practise where the employees of an organization are treated as its asset & conscious effort is made to address their financial, intellectual, social & emotional needs so that their productivity is maximised.
By integrating the individual goals with the organizational goals the HR managers aim at "inclusive growth" where the benefits earned by the organization percolate down to the lowest level of workforce. ( Remember John Nash?? "The group is benefited best when each individual does what is best for him & the group"... )
Financial->high salary, fringe benefits etc
Intellectual->challenge at work, career growth prospects, learning etc
Social->work life balance, status, pride, job satisfaction etc
Emotional->job security, stress caused by work, prospects of self actualisation etc
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