HUMAN RESOURCE PRACTICES AT PRESENT IN BOTH ORGANISED AND UNORGANISED SECTOR IN INDIA
ABSTRACT
Corporate focus on the implicit and explicit costs of human resources has never been Greater and outsourcing employee benefits administration can create greater efficiency while decreasing costs. This paper attempts to study the HR outsourcing phenomenon with respect to the organized and unorganized sector and also how companies in India are reacting to the HR outsourcing phenomenon. This study throws light on the demographics involved in both sectors. The profiles of employees in both sectors with regards to gender, age, education, experience and work they do have been classified in this study.
?HUMAN RESOURCE PRACTICES AT
?INTRODUCTION
?Today, every organization is aiming at achieving productivity by enhancing return on investments and achieving the economies of scale. In this context, it makes sense to focus only on the organization's core competencies and outsource non-critical business activities. Therefore, routine administrative work, although important, can be outsourced to third party vendors. We shall also look at outsourcing outfits like India Life Hewitt, Ma Foi and study their roles in the entire HR Outsourcing scenario. With more and more companies looking to rationalize employees on their payroll, Human Resource outsourcing is slowly becoming the new buzz in India. Companies to whom organizations outsource their Human Resources function possess the knowledge and resources to expertly perform part or all of a clients' human resources function, allowing the client to streamline their internal processes and concentrate on generating profit in their core business.
?HR outsourcing in India
?Estimates show that the latent size of HR outsourcing in India is about $2 billion with a current market of $27 million and it is growing at a rate of about 50 per cent. HR outsourcing in India has not seen the required momentum and is limited to a trickle effect, with companies outsourcing a few selected low-end HR processes. Companies who haven't joined the HR outsourcing bandwagon are either unfamiliar with the process and procedures of HR outsourcing, or are unaware of the players operating in the area or are unaware of the probable value obtained from doing so.?Today, every organization is aiming at achieving productivity by enhancing return on investments and achieving the economies of scale. Therefore, routine administrative work, although important, can be outsourced to third party vendors.? The projections for mentioned outsourcing HR activities are mentioned below:
Pay Roll Services
761
Benefits administration
536
Education and Training
558
Recruiting and Staffing
348
Personnel administration
167
Other HR Functions
192
Total
2560
?HR Outsourcing market is increasing worldwide ($51 billion) representing approximately 39 percent of the total business process outsourcing revenue. HR Blake Stanley Cup Finals jersey Outsourcing also helps the HR professional to play an important role in corporate downsizing efforts and facilitates access to new ideas and approaches outside the organization
?Factors to implement a successful outsourcing decision
??It is important to layout your outsourcing goals clearly before making anoutsourcing decision
Blake Stanley Cup Finals jersey ??Organisations must look into the short as well as long term objectives ??Organisations should consider who will control outsourcing decision and why??It is necessary to find out how well the company's culture will support an outsourcing decision ??It has to be decided that it is better for your operation to be centralized or decentralized before outsourcing
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