Transforming Role of HRM: Challenges, Policies and Practice in the Present Context

Human Resources Management (HRM) in organizations has a vital role to play and to maintain a competitive edge. To face the ever-increasing demand for Human Resources (HR) and the speed at which changes are taking place in terms of technology and practices. In the rapidly changing phase of transforming business background, globalization, diversity in the workforce, advancement in technology, changing business scenario, employee preferences etc. It's a challenge for the HRM to perform an important part and engage in best practices towards organizational and individual success. The role of HRM will be more significant in the changing times of business economy. This paper attempts is to explore the changing role of HRM and challenges associated with effective HR policies and practices from a current business scenario.