Hr management is really a dynamic discipline that keeps altering using the alternation in the exterior atmosphere. Within the very competitive modern business community, workers are regarded as a vital resource, which supplies a sustainable competitive advantage. It has brought for an elevated interest in high performing individuals. It has also necessitated the requirement for improved hr practices that address the problems of worker satisfaction, motivation, commitment and work culture. The HR practices might possibly not have an immediate impact at the base type of a business, but elevated worker productivity along with a better work atmosphere because of innovative hr practices, can easily possess a favourable impact at the base line.

It happens to be recommended the companies, that have novel HR practices, tend to be more worker oriented and are better too. Innovation means growth and development of innovative methods to motivate employees that improve worker productivity through motivation or improved work culture. It might also mean using practices which are a new comer to the organization, but they may not be a new comer to the. Either in situation, the goal would be to create a company that’s people centric. A persons resource managers are in possession of to coach and motivate employees to manage stiff competition which has come to light from globalisation. Newer ways of HR management will also be important since the world economy has transformed from as being a production based economy to understanding based economy.

The common practices cannot operate in these altered conditions and HR managers now have to decorate the function of economic development managers while creating new practices for manpower management. It’s no longer easy to motivate the workers by only dollars due to the intense competition for HR any organization is able to pay a much better salary for any good artist. Therefore, hr managers need to device innovative hr practices. A lot of companies now utilize cashless methods for motivating employees, and also have been successful within their endeavour. There are lots of innovative methods to motivate employees including recognition of the excellent performance, public praise, training & development, which makes them shareholders in success by supplying an optimistic work atmosphere.