MANAGING HUMAN CAPITAL IN INDIAN FAMILY BUSINESSES

Managing human capital is a critical challenge for family businesses worldwide, and India is no exception. Effective management of human capital requires a focus on creating a positive workplace culture, developing talent management strategies, and aligning employee goals with business objectives. Family businesses in India can achieve organizational success by clearly communicating business objectives, setting performance goals, providing regular feedback, and aligning employee incentives with business performance. By aligning employee goals with business objectives, family businesses can create a high-performance work culture that drives growth and profitability. Family businesses in India must also prioritize the development of nextgeneration leaders and ensure their readiness to take over the business. The use of technology, innovative HR practices, and collaboration with external experts can aid in managing human capital. However, managing human capital is critical for the longterm success of Indian family businesses, and organizations must invest in this area to thrive in the competitive Indian business landscap