STUDY AND DEVELOPMENT OF EFFECTIVE HUMAN RESOURCE MANAGEMENT SYSTEM MODEL FOR NEW GLOBAL ECONOMY

Abstract

A qualitative and quantitative research and analysis are done in examining the application of Human Resource Management in the new organizational and industrial global economy. Crucial analysis involved and models related in this study are Human Resources Management (HRM), Knowledge Management (KM), Intellectual Capital(IC) and integration of these concepts. In this research the analysis and model or the framework pertaining the role of human resources management, Knowledge Management, Intellectual Capital and Human Capital with respect to organization and industrial global economy is done. The initiative objective related to human resource evaluation of some of the activities of Human Resource Management is evaluated and those are, finding out human resources requirement, human resources forecasting, Recruitment and Selection, Integration, Training, Communicating, Assessment, Career Development, Promotion, Relationships with special stakeholders, Motivating, Labor and Social Protection, organizational culture modeling and the efficiency of using human resources which leads to basement of analysis of Human Resource Management and checking of organizational and economical performance. Another concern in this study involves the development and analysis of the role of Human Resource Management in new economy by focusing on the integration of the Intellectual Capital, Human Capital and Knowledge Management in the strategies of the organizational and industrial global economy. Qualitative and quantitative analysis are the key drivers of the new economy and these are identified and analyzed. Organizational performance is also analyzed. Hypotheses are defined, analyzed and checked for each activities of HRM, organizational performance and knowledge management. Methodology, design, evaluation and the frame work of HRM is done in this research work. Regression is carried out .The Likerts five point scale is used for each and every activity technique, for the assessment of HRM and for the economical development of organization with respect to human capital and knowledge management. Regression analysis is carried for each activity. The survey response obtained for Human resource evaluation for all HRM v activities are in favor of Likert Five Point (scale strongly agree =5) The % Strongly agree for all HRE with respect to HRM are in between 70% to 90%. Which is best and acceptable. Secondly the Reliability Statistics analysis for all HRM activities mentioned is carried and the results obtained for the same are shown. For all activities the results obtained are such as Cronbach's Alpha = 0 .756, Cronbach's Alpha Based on Standardized Items = 0 .748, N of Items = N. As we see the values in Item-Total Statistics chart, Cronbach’s Alpha for if each item is deleted from total n items, the average Cronbach's Alpha of the remaining items does not have large variation. Cronbach's Alpha is near to 0 .756and 0 .748 which is good and acceptable. As per Reliability Statistics, Item Statistics (Mean=4, SD< 1), Inter-Item Correlation Matrix (Correlation = < 1 and + correlated between inter item), Summary Item Statistics, Item-Total Statistics and Scale Statistics. All the items which are considered for regression analysis are good correlated. Only few are excluded, all items are accepted . Organizational performance excellence is checked. Organizational performance excellence can be checked by two indicator Efficiency and Effectiveness. Effectiveness performance indications measures company’s progress towards goals achievement, mission fulfillment and overall performance of organization. Efficiency is another performance indicator which measure organization relations pertaining to input, output, and successful conversion of input to out put. Reliability Statistics for one of the activity i, e organizational performance, the results obtained are Cronbach’s Alpha =0.533, Cronbach's Alpha Based on Standardized Items = 0 .431, N of Items = 33. As we see the values in Item-Total Statistics chart, Cronbach's Alpha for if each item is Deleted from total 33 items, the average Cronbach's Alpha of the remaining 33 items does not have large variation. Cronbach's Alpha is near to 0.533 and 0 .431 which is good and acceptable. As per Reliability Statistics, Item Statistics (Mean=4, SD< 1), Inter-Item Correlation Matrix (Correlation = < 1 and + correlated between inter item), Summary Item Statistics, Item-Total Statistics and Scale Statistics. All the 33 items which are considered for regression analysis are good correlated. Some of the items are excluded.