Article
A STUDY ON HR POLICIES AND PRACTICIES
Human Resource practices and functions have a far reaching impact on the employees morale and performance, which in turn, affects the overall performance of the organization. This is why they are claimed to be closely related to a business’s ‘balance scorecard’ through “productivity, people, and processes” (Ulrich,). Given its criticality, a regular assessment of the HR function, like that of finance function, becomes essential for sustaining organizational health and growth. The need for such assessment is even greater in today’s dynamic and, at times, turbulent, environment, where human resource management needs continuous up-gradation and re-alignment. Moreover, with increased importance of the human contribution to organizations’ competitive advantage, especially in the knowledge driven economy, the human resource function itself is under transformation. It is gradually moving from the role of a service provider to that of a strategic business partner. In order to perform this emerging role effectively, the HR function has to continually assess: Whether it is adding tangible value to the organization through its strategies, policies, processes and practices; Whether it is doing so at a competitive cost; and Whether it is doing so in a manner that is satisfying to its people, acceptable to the society and the law, and, from a long term perspective, sustainable.
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