NEW STRATEGIC FUNCTIONS OF HUMAN RESOURCE MANAGEMENT IN 21st CENTURY

Abstract Human Resource Management discipline extracted its roots from organizational psychology discipline and proved to be an important practice for managing organizations. The role of Human Resource Management practice has emerged to become inevitable for 21st century modern businesses. HRM is primarily responsible for the people dimension of an organization .Its basic philosophy is built around people at work, that is, when properly motivated, even ordinary people can deliver extraordinary results. This Chapter focuses upon role of human resource management practices, importance of human resource managers and the upcoming challenges which are faced by 21st century HR managers