HUMAN RESOURCE POLICIES – PRE AND POST LIBERALIZATION

The business environment in the country is changing rapidly. As the business is changing the most critical resource associated with the changing environment that is “The Human Resource” is also required to undergo change at a fast pace. The expectations from Human Resource in the pre liberalization period, post liberalization period and globalization phase have undergone commendable transitions.The human resource policies of the organizations have also gone through periodic changes to adapt to the changing business environment.Human Resource Policies serve as a guideline through whichthe management practices regarding employee relations are being developed. A good Human Resource policy is policy which aligns the Human Resource of the organization with its business scenario. The paper puts light on the transition of the Human Resource Policies from the License Raj Era to the period of Globalization. It also shows how the changing business environment has impacted the Human Resource Policies of the organization. The article also highlights the future challenges the organizations will face in designing Human Resource policies.