An inclusive systematic investigation of human resource management practice in harnessing human capital

Abstract

When it comes to utilizing or harnessing human capital for any organization, it becomes very important to know the management science behind HRM. Intellectual capital, technology, globalization, profitability via expansion and change are all major business problems that companies are presently experiencing. These problems need companies to collaborate to create new skills, and human resource management is in charge of doing so. It assists companies in addressing competitive difficulties by acting as a leader. HR professionals have lost their stereotype of monitoring policies and enforcing rules. HR professionals are now held accountable for their employees’ engagement and dedication to the company, as well as motivating people to participate and take ownership. It’s no longer a relic of the past. It has evolved from a little reactive image to a much larger canvas. The new management of human resources is triggered by bringing the organization’s management together with the workers, resulting in a merger of the person’s and the organization’s reservoirs of knowledge, culminating in the joint victory of both. Global competitiveness may be accomplished not only by using updated technology and facilities but also by encouraging workers to adhere to international standards in an efficient and effective manner. Human resources specialists in every firm on the global stage have the goal to influence the business world; HR is currently in a paradigm change, and its role as a support function, relied on to assist others and to recruit and dismiss from businesses, is quickly fading. Human resources are taking a proactive role in addressing globalization’s issues. It brings about change and enhances people’s abilities to learn and cooperate, as well as handle variety, ambiguity, and complexity. The study and comparison of the perceptions of corporate workers, management faculty, and management students in an effort to understand the role of HRM in developing national talent for global success.