Innovative Hr Practises

ABSTRACT
Abstract India is a very fast developing country. This has given lot of opportunities for our country to grow further but it posed lot of challenges in front of us like Indian companies have acquired foreign giant companies and are trying to establish themselves more competitive than the foreign companies. Moreover, competitive pressures on the organizations have encouraged them to be proactive in diagnosing HR problems and to adopt more innovative HR practices since these were no longer a matter of trend, but rather of survival. Hence the corporate have started formulating and adapting innovative HR strategies. In this paper an attempt has been made to discuss some of the key HR functions where and how innovative strategies need to be developed for ensuring the organizational excellence. It also reviews the various studies done on innovative HR practises. The paper also attempts to find out various innovative HR practises and the leading companies who have adopted such practises.
Key words: Innovative HR practices, competition, Human resource management.

INTRODUCTION
The past few decades in business have been characterised by a succession of fundamental shifts in the way companies operate and structure themselves. In their search for greater efficiencies, economies of scale or lower costs, companies have embraced trends such as outsourcing, off shoring, and mergers and acquisitions, while rapid technological development has transformed the way information is shared and communicated, and the way business processes and transactions are conducted.
Although trends such as off shoring, mergers and acquisitions, and large-scale IT projects can have different objectives and require different skills, they are all examples of business transformation. Each type of project requires executives to set clear objectives, to ensure that those aims are understood by everyone in the organisation and to focus carefully on the implementation stage so that the...