A REVIEW ON INNOVATIVE HUMAN RESOURCE PRACTICES WITH SPECIAL REFERENCE TO INDIA

Human resource practises are most successful when they are aligned with an organization’s strategic objectives. The significance of human resources in a business’s success is expanding quickly in tandem with the expansion of various industries in the current globalised period. With the rise of India’s information- based businesses, human knowledge is unquestionably the most significant strength today. To ensure that a business selects the best person for the position and manages human resources effectively, procedures such as competence mapping are gaining traction. Competency planning is the process of defining critical capabilities for a specific job inside an organisation and then using those qualities for job appraisal, recruiting, training and development, performance management, and succession planning. When combined with the balanced scorecard, this may be a very beneficial tool for managing an organization’s performance. In terms of human resources, the time has maybe come to regard it as a line function, with each manager having HR obligations as part of his line responsibilities, rather than as a distinct, support-only job. The change in emphasis away from conventional human resource techniques toward strategic human resource practises was unavoidable. A company’s competitive advantage does not simply come from distinguishing a product or service or from being the lowest-cost leader; it also comes from being able to use the company’s unique talents or core competencies and react quickly to consumer wants and rival actions. Human resource procedures may be critical in discovering and analysing external opportunities and dangers that might be critical to the success of the business. It has a unique position in terms of providing competitive information that may be beneficial throughout the strategic planning process. Thus, human resource methods aimed at attracting the greatest people, providing a pleasant work environment, and enabling the organisation to retain talent are designed, executed, and proven effective by India’s top corporations