Innovative Human Resource Practices - A Study in Indian Context

Human resource practices are most effective when coordinated with strategic goals of organizations. HR practices role in the company‘s success is growing rapidly with the growth in many sectors in the present globalized era. With the growth of the Indian industries in the knowledge-verticals', human knowledge is undoubtedly the most important strength nowadays. To make sure that a company chooses the right person for the right job, and manages human resource carefully, processes like competency mapping are gaining ground. Competency planning is a process of identifying key competencies for a particular position in an organisation, and then using it for job-evaluation, recruitment, training and development, performance management, and succession planning. In conjunction with the balanced scorecard, this can be an extremely healthy tool to manage an organisation's performance. As far as the HR function is concerned, the time has perhaps come where it needs to be treated as a line function with every manager having HR activities as part of his line responsibilities, rather than treating HR as a separate, support-providing activity only. The shift in focus from traditional HR practices to strategic HR practices was inevitable. Competitive advantage for an organisation lies not just in differentiating a product or service or in becoming the low cost leader but in also being able to tap the company's special skills or core competencies and rapidly respond to customer's needs and competitor's moves. HR practices can play a vital role in identifying and analysing external opportunities and threats that may be crucial to the company's success. It is in a unique position to supply competitive intelligence that may be useful in the strategic planning process. Hence, HR practices to attract best talent , giving them pleasant environment to work with, that enables the company to retain talents, the above said practices are conceived and implemented and found successful by the leading companies in India