EXECUTIVE SUMMARY

The field of human resources pragmatically attempts to assist employees in using their individuality to benefit the business as a system, while simultaneously using the system to benefit the individual. Human resources specialists also referred to as personnel specialists, serve a variety of functions in regard to the workforce of a company or organization. While the primary function of these specialists is to oversee the interviewing and hiring process, they also assume the responsibilities of training employees, controlling and overseeing various employee benefits programs, and promoting the needs and desires of employees in a general sense. Among the various employee programs human resources managers and specialists oversee are health and life insurance, retirement plans, and various company policies on substance abuse, leave, vacation time.

Organizations today are realizing that they need to respond to changes occurring in the environment; be it technology, business dimension strategies or emerging markets Human resource is one of the most vital resources of a country as it exploits the natural environments for the entire population The people component is thus becoming key factor to success of the strategy be it for survival or excellence. People management has been the most intriguing aspect of managing an organization all along. The organizations have recognized its contribution in the total framework but this aspect is so dynamic that it does not seem to reach a level of stability. The technology, the system, the skills tend to get stabilized at least for a certain period in their evolution process, but people management tends to remain an alive issue.

One of the reasons for this lies in its being different in nature compared to any other resources the organizations depends upon. The other resources are passive-in the sense that they do not react or their reaction can be controlled or predicted. But human resource is not so. This resource is capable of responding to the treatment given to it & the response is not standard or uniform. Even a slight variation can create waves. Employees are the precious resources who need to be conserved, nurtured & put to optimum use. This is the essence of regarding human beings as resources. The concept of HRM is now gaining wide acceptance. The term Human resource management is a very wide concept and it includes Human Resource Development.

In fact, Human resource management aims at Human Resource Development (HRD). Nonetheless HRM & HRD are almost the same. The term development implies the existence of a goal & a progress towards the goal. HRM s role is the development of an employee in an organization, which implies that we discover what his potentials are & then give him adequate opportunities to develop those potentials, which of course, would be useful to the organization. Hence, clear implication of the HRM approach would be that the management must attempt to find out the abilities & capacities of an employee & the possibilities of their development. The establishment of a separate ministry of Human Resource Development (HRD) in 1986 is a logical culmination of the realization of the importance of human factor in development by the government of India., ever since this establishment, quite a few organizations have introduced this department in their organizations. Previously, the department was called personnel department, but now it has been renamed HRD. In some organizations, there are HRD officers or managers who are merely carrying out the training activities. In effect, some training managers are now being called HRD managers. One most admits that the phrase is becoming increasingly popular. We even have an All-India HRD association.

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