Views on Hrm

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Globalization of industries has created a new platform for companies to expand their position by entering new market segments. However, it has created a considerable challenge for organizations that has resulted in creating multi-dimensional changes in organization structure and policies. Organizations now encourage initiative growth culture to get competitive advantage over other companies by being a market mover that enables sustainability in uncertain conditions. Decentralization of decision making and preference given towards human resource capital shows the orientation of contemporary companies towards goal-oriented strategy. Traditional emphasis of organizations for growth based on their financial and tangible assets capability is now been replacing with long term vision in consideration with human resource empowerment. Growing corporate structure has faced critical challenges in last few decades; remarking the need of shift in goals and objectives achievement through human resource capitalization as core component.

CHALLENGES FOR CONTEMPORARY BUSINESS

In recent few years, globalization of industries has created a pressure on companies to focus their shift on competitive edge abilities for greater sustainability. Progressive shift in corporate policies and restructuring designs has defined the perception of companies seeing the potential challenges in future. Although organizations are still dependant on stable products/services offerings for financial sustainability but are moving towards human resource capital as central part of their strategic goals (Beardwell et al., 2004). This strategic goal orientation defines the purpose of organization in considering the ability to prosper its goals in uncertain market conditions. Gradual shifts in economy towards information, service and knowledge based economies have presented contemporary organization with new focus of attention to...