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Abstract
HRM has evolved from a number of different strands of thought and is best described as a loose philosophy of people management rather than a focused methodology. It derives largely from the 20th century but incorporates older notions about the management of people at work. The contributions made by great pioneers and researchers are been successfully followed and implemented in the organizations which was in favor of employees. Employees were been given identity, their opinions were considered in various issues and the managerial styles towards employees were been changed. Current practices in many organizations indicate that employees are viewed as valuable investments. The basic premise of the academic theory of HRM is that humans are not machines; therefore we need to have an interdisciplinary examination of people in the workplace. In this paper, the author has examined the evolution of Human Resource Management and reviewed some of the contemporary people management practices.
Keywords: Human Resource Management, Evolution, Contemporary Practices
Introduction
Human Resource is the assets of the organization. The employees were considered as machines and animals in the past decades. Employees were made to work in the organization without any stipulated time, schedule, workload, compensation, working hours etc. They were made to stay for long hours for which they were even not paid properly. Due to the low literacy rate of Indians in the past decades especially at the times of foreign rule employees use to commit mistakes in ignorance for which they were punished and sometimes fired from the organization. The turnover of employees took place which resulted in replacement problem.
The rapid growth in the number of factories and the need to coordinate the efforts of large number of people in the work place necessitated the development of management theories and principles. In order to overcome the scarcity and replacement of employees management has approached many theorists and practitioners who contributed valuable ideas that laid the foundation for broader inquiries into the nature of management.
Human resource management (HRM) is the strategic and coherent approach to the management of an organization's most valued assets - the people working there who individually and collectively contribute to the achievement of the objectives of the business. The terms "human resource management" and "human...