Human Resource Management Practices and Retrenchment Policies An Analytical Study in Organized Retail Sector in UP

Abstract

Human resource management (HRM) practices are most effective when matched with strategic goals of organizations. HRMand#8223;s role in the company s success is growing rapidly with the growth in many sectors in the present globalized era. HRM is a vital function in organizations and becoming more important than ever. The HRM practices are crucial in designing the structure for man power, staffing, performance appraisal, compensation, and training and development. HRM practices are a primary means for defining, communicating and rewarding desired role behaviours and desired role behaviours are a function of organizational characteristics. Innovative HRM practices can play a crucial role in changing the attitude of the companies and its employees in order to facilitate the entry and growth in the markets. The HRM practices in service sector especially in the area of retailing have found significant importance in the present scenario. The retailing is one of the service sectors where the need of qualitative human resources is highly expected. newlineRetailing is an important element of business around the globe. Retailing consists of all activities that result in the offering for sale of merchandise to consumers for their own use. Retailing is the final step in bringing goods to consumer. They sell both goods and services. newlineRetailing is the process of Sale of goods or merchandise, from a fixed location such as a departmental store or kiosk, in small or individual lots for direct consumption by the purchaser. Retailing may include services, such as product delivery. Buyers may be individualsand#8223; or businesses; a retailer buys goods or products in large quantities from manufacturers or importers, either directly or through a wholesaler, and then sells in smaller quantities or lots to the end users or consumers. Retailers are the end links of the supply chain as an important part of manufacturing/marketer overall distribution strategy. newline