Employee relationship management ERM for gaining competitive advantage a study on public sector banks

Abstract

Employee relationship management (ERM) is a system that companies use to efficiently manage the relations and communications among employees in the organisation in order to achieve the organisational goal. The department of human resources management plays a vital role in employee relationship management (ERM), it provides necessary training and education to employees and managers to develop a healthy relationship in the organisation. It also focuses on measuring and monitoring the internal relationships on a regular basis so that the organisational objective will be met.Employees are the key resources of an organization. It is important that the employees carry out their job collectively as a single unit and contribute equally to the achievement of the organisational goal. It is based on the concept united we stand divided we fall , therefore, no task may be accomplished if the people in an organisation are involved in continuous conflicts and misunderstandings. It has been determined that targets can be easily achieved if the employees work collectively and maintain good relations with each other. Employees should be snug with each other to deliver their best performance and enjoy their work. In most of the organisations, employee relationship is based on attracting and retaining employees keeping employee satisfaction as a major determining element in improving employee performance and reaching the organisational goal. But the irony is it is still very difficult to maintain employee satisfaction and retaining the efficient employees and resulting in financial distress. Employee attrition has become a common phenomenon in present-day organisations.