“A comparative study of Recruitment & Selection, Training and Development policies in Indian MNCs and Foreign MNCs”

Abstract

This research paper deals with the comparative study of recruitment and selection, training and development process of INDIAN MNCs and FOREIGN MNCs. This research paper highlights the differences and similarities of the policies being followed in MNCs. In my last research paper being published earlier I highlighted the innovative HR practices of Foreign and Indian MNCs but in my this paper I am highlighting the comparative analysis of selected policies. My research basically depends upon primary and secondary data collected from company employees, internet and online journals, research papers. Companies change their HR practices according to the culture and PEST environment of the countries in which they operate. Globalization is also an important driver in setting specific benchmarks for the hr policies being followed. New concepts like E-HRM and HRMIT are developed to cope with the scenario in which company is operating(as all companies now want to move beyond boundaries). Basic aim of all the companies is to earn PROFIT but now the concept is little bit changed as HRM has taken an important place in working of all the companies may it be national or multinational. Human resources are now considered as an ASSET instead of LIABILITY. As now companies are focusing on retaining talents instead of searching for low cost employees with lesser qualifications. Good Human resource management is now considered as one factor which adds competitive advantage to the company. Department of HUMAN RESOURCE in all the companies is now in lime light instead of back seat and it is learnt that “HR cannot function in cabins” Good human resource strategies and practices are the backbone of all the companies may be operating nationally or multinationally and good human resource management is the life blood of those companies.