Open AccessBenchmarking - HR Practices
Author(s) -
Anita Sathe,
H. R. Desai
Publication year - 2020
Publication title -
international journal for research in engineering application and management
Language(s) - English
Resource type - Journals
ISSN - 2454-9150
DOI - 10.35291/2454-9150.2020.0282
Subject(s) - benchmarking , competition (biology) , competitive advantage , business , product (mathematics) , marketing , human resources , resource (disambiguation) , industrial organization , market competition , customer needs , management , economics , market economy , computer science , ecology , computer network , geometry , mathematics , biology
In 21st century, organisations can be successful only if they respond to the environmental changes. 21st century is the era of cut throat competition and innovation and only progressive companies can get an edge. To gain competitive advantage, the companies need to innovate the product, processes etc. Companies need to adopt changing technology, changing customer preferences, changing market concept and also changes with various issues while managing the people. Therefore to survive in such volatile market, successful innovation proves to be only key that the organisations should hold.Conscious efforts should be made by Human Resource Department to transform its practices. This paper points out the HR practices followed in the industries and the benchmarks established by the organizations to sustain and progress in the global competition