Human Resource Management in the New Economy

The new economy, characterised by innovation, creativity, information explosion and technology, has created vistas of opportunities, myriad of expectations on the one hand and fierce competition, dynamic uncertainty and above all turbulence on the other. Habit and complacency are out, learning and speed are in. The new economy is performance-driven and customer-centric which has several consequences on organizational work practices and expectations in terms of reinventing themselves and help organizational members, in general, to unlock the great potential of human intelligence. Organizations are expected to continuously excel in performance criteria that include concern for ethics and social responsibilities, innovativeness and employee development, employee relationship management along with the traditional measures of profitability and investment value. Thus, while organizations in the new economy tend to be performance-driven, HR professionals are no exception to it. In this context, the present book deals with several contemporary HR issues having strategic implications under the various topics such as: globalization & changing HR practices – recruitment, selection, T&D, PMS, compensation management and employee relations; diversity management issues and challenges; E-HRM; role of branding in building organization culture; customer-centric HR; and, economic slowdown – HR practices. This book is a collection of papers presented by several professionals, representing industry and academia, in a National Conference organized by the Institute for Technology and Management (ITM). The principal theme of this conference was 'Human Resource Management in the New Economy'. The contributors tried their best to blend both theory and practices of contemporary HR issues in their papers. This book would help not only the researchers and HR practitioners but also the senior executives for creating sustainable competitive advantage through people in the ever changing and dynamic workplace and economy.