FUTURE PROSPECTS OF HUMAN RESOURCE MANAGEMENT IN INDIA
ACADEMIC YEAR: 2010-2011
SUBJECT: human resources
Evolution of HRM in India
Indian HRM in transition
Functions and activities of HRM
Changes in HRM
Challenges of HRM
HR managers should do the following things to ensure success 14
HR managers today are focusing attention on the following
Human resource management: Futuristic vision
HR jobs of the future
Current trends in HRM
Taking a look at the world of human beings is a rewarding experience. Today, in any organization humans are treated as precious resource. They are called as assets of the organization as they bring success & prosperity. Human resource deals with human resources employed in a business unit. It is an approach to the management of people in an organization.
HRM is relatively a new term for what was called as personnel management. HRM is that aspect of total business management which deals with human relationships within an organization. It represents human resource which is different from material resources. It is rightly said that organizations are not mere bricks, mortar, machineries or inventories. They are people. It is the people who staff & manage organization. Human resource is the most productive & versatile. In addition, the manpower in an organization needs human treatment. Employees have the capacity to feel, think & even to react. Management has to deal with the employees in a careful & tactful manner.
According to Peter Drucker, “The prosperity of any business depends upon the performance of its managers of tomorrow “. This suggests the importance of manpower planning & development. The material resources alone will not help the organization to achieve its objective. For this, effective coordination & utilization of material & human resources are required. This suggests the importance of human resources. Human Resource Management is a process of bringing people & organization together so that the goals of each are met". Few years back HRM field was nowhere in existence but now it is very common in Business word due to its need & importance. DEFINITION
HRM is the planning, organizing, directing & controlling of the procurement, development, compensation, integration, maintenance & separation of human resources to the end that individual, organizational & social objectives are accomplished. Thus HRM refers to a set of programmes, functions & activities designed & carried out in order to maximize both employee as well as organizational effectiveness.
EVOLUTION OF HRM IN INDIA
INDIAN HRM IN TRANSITION
One of the noteworthy features of the Indian workplace is its demographic uniqueness. It is estimated that both China and India will have a population of 1.45 billion people by 2030; however, India will have a larger workforce than China. Indeed, it is likely India will have 986 million people of working age in 2030, which will probably be about 300 million more than in 2007. And by 2050, it is expected India will have 230 million more workers than China and about 500 million more than the United States of America (U.S.). It may be noted that half of India’s current population of 1.1 billion people are under of 25 years of age. While this fact is a demographic dividend for the economy, it is also a danger sign for the country’s ability to create new jobs at an unprecedented rate. When India’s young demographic bubble begins to reach working age, India will need far more jobs than currently exist to keep living standards from declining. India today doesn’t have enough good jobs for its existing workers, much less for millions of new ones. If it cannot better educate its children and create...
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