State the national significance of human resource management.

Human resources and their management play a vital role in the development of the nation. The national significance of HRM is as follows:

1. Effective Utilisation of National Resources — The effective exploitation and utilisation of a nation's natural, physical and financial resources require an efficient and committed manpower.

2. Quality of Human Resources — There are wide differences in development between countries with similar resources due to differences in the quality of their people.

3. Foundation of Development — The level of development in a country depends primarily on the skills, attitudes and values of its human resources.

4. Economic Growth — Effective management of human resources helps to speed up the process of economic growth which in turn leads to higher standards of living and fuller employment.