HRM is one of the management functions that is undergoing dramatic changes in the new millennium. Some of the challenges that confront HR professionals and their roles in organizations and the industrial scenario are (i) the increased globalization of markets and intensification of competition has made employers and employees conscious of their changing and strategic roles in organizations; (ii) corporate restructuring has become an absolute necessity for organizations to shed extra flab and to look lean and competitive resulting in discharge of workers with attendant problems; (iii) Mergers and acquisitions that are apace to consolidate competencies and to enjoy economies of scale in the global arena bring their own ...

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