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Dear Amr,
HR policies regulates the principals and the values that the companies stand for, it also discipline the systems and the procedures that employees should follow as part of the companies protocols and etiquettes.
HR policies are important because the sets out the guidelines of the employee-employer relationship. They help establish clear expectations and ensure that employees are treated fairly as they work towards the success of the organisations.
HR policies help limit the subjectivity of the decision making process by defining job roles, organisational rules, consequence for various actions etc, this ensures that both the employee and employer have a clear understanding of what is expected from them in the work relationship thereby reducing grievances and increasing job satisfaction.