Group memberElizabeth MarcusPuja AgrawalRevathi RPresentation on ContemporaryHuman Resource practices
HR PracticesInsight of HRIntroductionTypes of HRM PracticesFactors affecting HRM PracticesHRM Practices & Organization PerformanceDifferent Organization HR PracticesConclusion
INSIGHTS INTO HR HR is the most important asset & it is the source of achievingcompetitive advantage Dynamic business environment reflects thatattracting, managing, nurturing talent & retaining people is most criticalissue with enormous opportunities spun off by the market In the Knowledge economy, corporate houses have to address the coreissues of the HRM like e-recruitment, flexi-timing, employeeengagement Today’s global workforce is more mobile than ever before As a result we are witnessing a “war for talent” in the marketplace. HR plays vital role as a strategic business partner, changeagent, administrative expert & champion of employees in shapingstrategic outcome of organization.
INTRODUCTION HR is the source of achieving competitive advantage becauseof its capability to convert the other resources(money, machine, methods and material) in to output(product/service) In order to develop a sound HRM system , the organizationshould have effective Human Resource Management practices Contemporary HRM has been changed from its traditionalperspectives till nowadays. HR can be considered as critical assets if companies do notinvest in them
TYPES HRM PRACTICES Employment security Selective hiring Self-managed teams/team working High compensation contingent on organizationalperformanceExtensive trainingReduction in status difference Sharing information
HRM PRACTICES ANDORGANIZATION PERFORMANCE HRM practices enhance organizational performance HRM practices and which reported a workplace climate thatstrongly valued employee participation, empowerment andaccountability tended to be perceived to generally performbetter on a number of valued organizational outcomes There are significant connections between HRM practices andfirm performance that the strategic alignment of HRM is also adriver for firm performance.
SOME OF THE CONTEMPORARYPRACTICES Flexi timings Work from home (Telecommuting) Performance Management System Family Medical Leave Allowances E-Recruitment 540 Degree Performance Appraisal
DIFFERENT ORGANIZATIONHR PRACTICESSL.NO ORGANISATIONS HRM PRACTICES1 JK Lakshmi Cement Special Task Force, Young Leaders Forum, andPeriodic Blood Pressure check up camps, Quizcompetitions, Open House Communication meetingsand outbound training programmers.2 Grasim Industries Limited It has been awarded as the best place to work,by Hewitt’s and Economic times3 TATA AIG General InsuranceCo.Ltd.Friday Movie Mania ,indoor games andcompetition annual theme parties like WOWwhere the children of the employees canspend time in their parents place of work, arewards and recognition program ,called “TheSuccess Matrix",
CONCLUSION HRM practices should be analyzed from time to time andit should be updated accordingly Line managers should be involved in designing HRMpractices & survey should be conducted amongemployees to know their opinion about HRM practices