Informatics Publishing Limited

Ghazala Ishrat , Javed Habib

Abstract

The topic of my Research paper deals with the study of current hr practices in Indian MNCs and Foreign MNCs. As we already know the basic HR practices of all the companies are similar, but their implementation and operation differs in many ways. Companies change their HR practices according to the culture and PEST environment of the countries in which they are operate. Globalisation is also a important driver in setting specific benchmarks for the hr policies being followed. This paper also focuses on critical dimensions best HR practices being followed and innovative hr practices, new trends in HRM nationally and internationally. New concepts like E-HRM and HRMIT are developed to cope with the scenario in which company is operating (as all companies now want to move beyond boundaries). Basic aim of all the companies is to earn PROFIT but now the concept is little bit changed as HRM has taken an important place in working of all the companies may it be national or multinational. Human resources are now considered as an ASSET instead of LIABILITY. As now companies are focusing on retaining talents instead of searching for low cost employees with lesser qualifications. Good Human resource management is now considered as one factor which adds competitive advantage to the company. Department of HUMAN RESOURCE in all the companies is now in lime light instead of back seat and it is learnt that "HR cannot function in cabins" Good human resource strategies and practices are the backbone of all the companies may be operating nationally or multinationally and good human resource management is the life blood of those companies. In my paper I have added examples of immediate, present and in progress human resource practices followed in companies like WIPRO, LG ELECTRONICS, INFOSYS, GOOGLE, MICROSOFT, IBM, XEROX and many other companies which will provide insight into current HR practices and some innovative HR practices of these companies. Companies under discussion have many innovative practices like management restructuring programs, business process reengineering, performance ethic program, many reward systems etc to retain employees, which are discussed in detail in this research paper with the help of examples of INDIAN MNCs and FOREIGN MNCs.

Keywords

Human Resource Management, Innovative HR Practices, MNCs, Management Restructuring Programs, Business Process Reengineering, Performance Ethic Program

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