Human Resource Management In Nfbc

Introduction

HR is concerned with the people dimension in an organization, hence the trend in organizations to re-designate Personnel Department into Human Resource Department. The functions undertaken by HRD are to recruit, select, train and develop employees for an organization. Today with companies having a global mix of employees, developing an understanding of the employees is a tough task for the HR Department. Human Resource Management is a process of bringing people and organizations together, so that their respective goals are met. Indian organizations are also witnessing a change in systems, management cultures and philosophy due to the increasing global alignment of Indian companies.

HR Researchers worldwide have come to the conclusion

The scope of present study is confined to critically examine the HR Challenges of Non Banking Financial Companies with a special reference to the Gold Loan Companies This study is significant for several reasons. First, This study confirmed that factors such as internal communication, organizational structure, political climate, professional development opportunities, promotional opportunities, and regard for personal concerns had a significant impact on the performance of the employees working in NBFCs because they are affected with many variables such as organizational policies, personnel policies particularly rewards and promotions, leadership style etc.

OBJECTIVES OF THE STUDY

1. To identify and understand the HR practices followed by the Gold Loan NBFCs.

2. To Study the HR Challenges in Gold Loan NBFCs.

3. To Study the HR Challenges if Gold Loan NBFCs and its direct impacts in People Management.

HYPOTHESIS:

H1: Human Resource Practices has direct relationship with the overall performance of the company.

H2: Companies performance has direct relationship with the Human Resources

AOP 18(4), 2010, ISSN 0572-3043 (Singh, 2003). Organizations may use many mechanisms to achieve their HRM goals as without competent and committed employees, an organization can achieve very little even it has excellent technological and other resources at its command. Such an assertion gains better credibility in the context of developing countries like India, that is, typically in early growth stages in terms of economic development and growing more rapidly than the ‚traditional‘ developed economies of Japan, North America and Europe. This also includes most South East Asian, South Asian and some Latin American countries.

Tzafrir & Dolan (2004). Trust is defined as "... willingness to increase one's resource investment in another party, based on positive expectation, resulting from past positive mutual interactions."

RESEARCH