Abstract
Development of human resources is indispensable for the capacity building of any Nation. HRD is a broad term as it includes both the quantitative and the qualitative aspects of populace. India has one of the largest reservoirs of HRD in the world. In India a good number of industrial and commercial organizations have realized that human resource is the most important element in the field of success and failure of an organization. HRD is must for an organization to come out of its indolent stage to undertake its diversification programme, to improve its traditional services and systems, to become more dynamic and to play leadership effectively to ensure stability and growth of the organization. Development cannot take place unless a favourable climate for it is created at the top which extends down HRD through each level of the organization. It may come to a standstill if encouragement is not available to the person concerned. The HRD concept is based on recognition of human potential inherent in every employee. Only, dynamic employee can build dynamic organization. Self motivated and competent workforce makes organizations to grow and achieve goals. The most precious development asset of any organization is its human resources. The day-to-day development of science & technology and vast changes that are taking place in every walk of life make it more essential to take the best advantage of human resources. Maharatna Companies are one of the PSU in India with a Navratna status; listed on the Indian Stock Exchange; with an average net profit of more than Rs. 5,000 crore after paying tax; average annual turnover of Rs. 25,000 crore and an average annual net worth of Rs. 15,000 crore for 3 years each. This research paper focuses on a comparative study of HRD interventions namely Performance Appraisal, Career Development, Training programmes & Potential Appraisal systems of the “Maharatna Companies in India” under study i.e. BHEL & IOCL.
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