A Study On Hrm Practices And Its Impact On Globalisation Of Indian Business.

Abstract

The rapidly changing business environment in India and abroad brings many challenges and some top of the mind business issues for companies. Today work force is undergoing radical change as a result of powerful global forces. This research paper, though exploratory in nature aims to help companies to understand the global and regional talent trends. Detailed research may be undertaken to equip the Indian organizations with knowledge to benchmark their talent management practices, identify the gaps in their programme, develop a road map for execution and generate innovative solutions to attract, engage , develop and retain their talent. The Indian economy is supported by huge inflow of FDI, raising foreign exchange reserves, an IT and real estate boom, developing capital market. The major critical strength for India is English speaking and relatively young work force, increasing domestic demand for goods and services, growth of domestic companies. However 60% of the India’s 1.2 billion population is dependent on agriculture is a major challenge. Need for huge investment in infrastructure is another challenging area. Other areas which needs to be addressed are state bureaucracy, corruption and tariffs and the level of public debt.