IMPACT OF HUMAN RESOURCE MANAGEMENT ON BUISNESS ENVIRONMENT

Human Resource Management is the most significant aspect of any enterprise because it involves effective management of the employees in the organisation. Employees are the biggest assets of any organisation, which makes Human Resource Management a domain that needs to be highly effective in order to make the employees as well as the organisation strive towards success's In the contemporary context, the Indian management mindscape continues to be influenced by the residual traces of ancient wisdom as it faces the complexities of global realities. One stream of holistic wisdom, identified as the Vedantic philosophy, pervades managerial behavior at all levels of work organizations. This philosophical tradition has its roots in sacred texts from 2000 B.C. and it holds that human nature has a capacity for self transformation and attaining spiritual high ground while facing realities of day to day challenges. Human Resource Management has evolved considerably over the past century, and experienced a major transformation in form and function primarily within the past two decades. Driven by a number of significant internal and external environmental forces, HRM has progressed from a largely maintenance function, to what many scholars and practitioners today regard as the source of sustained competitive advantage for organizations operating in a global economy. Some of the factors that contribute to the evolvement of human resources management are technology, globalization, diversity, migration and an aging workforce. In this article, we would be discussing the various Issues that HR is facing in today's corporate scenario. A few challenges they have been able to overcome successfully but a lot of issues still need to be dealt with. We would be discussing issues HR is facing in the present and some strategies which, if adopted, can help the HRM to sustain better in the challenging and dynamic scenario. HR is a product of the human relations movement of the early 20th century, when researchers began documenting ways of creating business value through the strategic management of the workforce. The function was initially dominated by transactional work, such as payroll and benefits administration, but due to globalization, company consolidation, technological advancement, and further research, HR now focuses on strategic initiatives like mergers and acquisitions, talent management, succession planning, industrial and labor relations, and diversity and inclusion