Human Resource Management in India

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After liberalization of Indian economy, the demand for specialized and trained professionals for the managerial post is increasing rapidly. Later Indian economy was in-centric, but now due to globalization, it is booming. May renowned companies, banks, tele-companies, and other various companies are investing in India to top its vast growing market. The competition is cut-throat in these various sectors and to achieve professional competence, managers are required to be fully equipped with the understanding of the Indian economy and their own ability to excel. For survival in this highly competitive scenario, managers need to improve their quality and productivity, and eliminate their inefficiency. Any industry needs three 'M's for efficient running of the business, threat is: Man, Money, and Machine. And Man is the superior than other two 'M's-Money and Machine. Human Resource Management (HRM) is the way to understand the human resource of any industry. It deals with all the aspects related with the manpower and tried to ensure a good career opportunity, reward, train, and other development opportunities to itshuman resource. After liberalization, human resource management in India brought in various new challenges for Indian corporate and business world in terms of business strategies, technology, quality concern, cost effectiveness, management systems, etc. Due to global competition, various Indian businesses have been threatened and the main focus of Human Resource Management now is, to establish direct links with business improvement. The job profile of Human Resource Management has changed rapidly during these years and the challenges before him/her are stressful and daunting. HRM in India is a sincere attempt to understand the various perspectives of HRM in the context of India during recent years.