This book is a University Grants Commission ('UGC') & University of Delhi recommended, comprehensive & authentic textbook. It includes new topics, case studies, corporate examples and research inputs that would help the readers have a firm grip on the discipline and apply the same intelligently when they enter the corporate world. This book aims to fulfil the requirement of the following students of undergraduate courses in commerce and management: • B Com. (Hons.) | Paper DSC – 2.3 under the UGCF Programme as per the New Education Policy • B Com. | Paper DSC – 2.3 under the UGCF Programme as per the NEP • Non-Collegiate Women's Education Board (NCWEB) • School of Open Learning of the University of Delhi (SOL) • Various Central Universities throughout India The Present Publication is the 3rd Edition, authored by V.S.P. Rao, with the following noteworthy features: • [Innovative Presentation] Each chapter in this book tries to strike a delicate balance between concept and practice, which is liberally sprinkled with live cases, corporate insights and episodes • [Contemporary and Research-based Text] The book aims to deliver a rich fund of contemporary knowledge, time-tested principles, basic concepts, emerging ideas, evolving theories, latest techniques and fast-changing procedures & practices in a comprehensive manner • [Simple & Easy to Understand Format] The subject matter is presented in a simple, systematic method along with a comprehensive explanation of the concept and theories underlying human resource management • [Latest Thinking in the Field] Contemporary examples from renowned journals, newspapers and magazines have been extensively put to use to convey the excitement and dynamism of the discipline • [Information & Data from Global Websites] have been sourced in support of theoretical arguments proposed in the book • [Study Aids] Various figures, exhibits, charts, tables and exercises have been used to explain the topic(s) in an uncomplicated manner • [Chapter Outline] Each chapter in this book begins with a clear statement of what lies ahead along with a clear road map, which enables a student to undertake the intellectual journey in a relatively easy and comfortable manner • [Chapter Summary] A summary of each chapter is presented at the end so that the student can recollect and remember key points discussed • [Indian Flavour] Though many examples from global marketplaces have been used, the book does not lose touch with Indian ways of doing things. There is scrupulous adherence to the requirement of students • [Test Questions] A carefully selected list of questions that compel a student to sit through the subject critically have been appended to each chapter, keeping the examination needs of students in the backdrop • [Student-Oriented Book] This book has been developed keeping in mind the following factors: o Interaction of the author/teacher with their students in the classroom o Shaped by the author/teacher's experience of teaching the subject matter at different levels o Reactions and responses of students have also been incorporated at different places in the book • [New Topics] included in this book are as follows: o Artificial Intelligence & HR o The Future of Work Trends (Gartner Survey) o Wage Policy in India o Outsourcing & Human Resource Outsourcing o Ethical Issues in HRM o Employee Surveillance o Employee Privacy o Job Market Trends and Challenges (w.e.f. Study 2023) o Labour Reforms in India, 2020 o Work from Home Policy | The Right Way The detailed contents of the book are as follows: • Introduction to Human Resource Management o HRM | Concept, Functions, Roles & Competencies o HR Policies & Evolution of HRM o Emerging Challenges & Work Force Diversity o Empowerment, Downsizing Work-Life Balance & VRS • Procurement of Human Resources o Job Analysis o Human Resource Planning (HRP) o Recruitment o Selection o Placement, Induction, Socialization & Retention • Upgrading Employees | Training & Development o Training o Training & Development Methods • Performance Appraisal & Compensation Management o Performance & Potential Appraisal o Employee Counselling o Job Changes | Transfers & Promotions o Compensation & Fringe Benefits o Incentives & Performance Linked Compensation o Job Evaluation • Employee Maintenance, Engagement & Emerging Horizons o Employee Health, Safety, Welfare and Social Security o Grievance Handling and Redressal o Employer-Employee Relations, Industrial Disputes & Stress-Free Environment o E-HRM, HRIS & HR Audit o Emerging Horizons • Previous Year Question Papers o B Com. (Hons.) – 2018 o B Com. – 2021 o B Com. – 2022 o B Com. (Hons.) – 2022

The book presents the fundamentals of Human Resource Management in a simple, lucid and easily understandable style. It provides a comprehensive coverage to a vast, growing discipline well supported by a wealth of research data collected from multifarious sources, potently and carefully. A notable feature of the book is that it gives extensive coverage to HRD topics. The book contains a number of informative tables, summary boxes and useful diagrams. It is also liberally sprinkled with current examples and illustrations designed to convey the information in an uncomplicated manner. The book is primarily meant for students pursuing advanced courses in Human Resource Management such as MBA, PGDBA, M Com and IAS.Some of the changes in the Second Edition are summarized below:v A refined version of SHRMv Total quality HRM approachv Summarised versions of best employers in India especially their recruitment, selection, training and executive development practicesv Succession planning and succession management enriched with live corporate examplesv 360-degree feedback system, essentials of an effective appraisal system, potential appraisalv How leading Indian companies appraise potentialv Latest data regarding union membership; union recognition, criteria and rights, voluntary recognition and the code of discipline, verification of union membership, the check off system, recommendations of NCL, current trends in trade unionismv Features of industrial relations, approaches to industrial relations, latest data regarding industrial disputesv Important uses of human resource information systemv New chapter on International Human Resource Managementv Study Aids in a New Format: Discussion questions, Internet sources, true/false questions, key term exercises, student activities, etc., have been brought under one roof, i e, at the end of each chapterv 9 New Cases: The case of the risky recruit, the case of bench management, the case of TQM and innovation, compensation crises, incentive issues, the case of variable pay, the case of involuntary VRS, the case of mentoring management and the case of the hushed relationship

Designed to facilitate understanding and retention of the material presented, each chapter contains the following pedagogical features:u Opening Case: Each chapter begins with an opening case highlighting strategies and actions followed by Indian companies while trying to exploit the opportunities present in a competitive environment.u Real World Examples: Each chapter contains a number of real- world examples illustrating how a particular firm has exploited the gaps present in the environment, using its own resources to best advantage. u Terminology: Key ideas and terms that are vital to understanding strategic management have been highlighted throughout the book and explained at the end in a summarised formu References: Each chapter is also supported by carefully selected references for the benefit of readers who might be interested in exploring the topic(s) further.u Personality Profiles: Personality sketches of leading corporate heroes have also been provided at appropriate places, illustrating the manner in which they fought against heavy odds and emerged as winners in the end.u Review and Discussion Questions : Following the terminology, review and discussion questions offer an opportunity to focus on each of the key ideas illustrated at the beginning of each chapter and stimulate clear thinking.u Research Inputs: The book provides a comprehensive coverage of a vast, growing subject well-supported by a wealth of research data collected from multifarious sources.u Concluding Case: Each chapter contains a thoroughly researched and widely-acclaimed case, picked up from Business Today, relevant to the topic in question.u Student Oriented Text: The subject matter has been presented in a simple and lucid manner, keeping the unique requirements of students in mind.

The core of every company is its people, and Human Resources Management (HRM) is the key to handling all the complexities of human relations, compensation, conflict resolution, and much more. Strategies and tactics are needed to effectively manage the human resource potential that drives all companies to profitability and success. Human Resource Management Essentials You Always Wanted To Know guides readers through the challenges and provides tools to address those challenges. It provides an understanding of areas including: · The concept of HRM · Performance management strategies · Legal and regulatory compliance · Organizational development · Conflict management · Payroll and compensation · Information technology in HRM · Health and safety · Personnel development Human Resource Management Essentials is part of the Self-Learning Management Series focused on working professionals. The series addresses every aspect of business from HR to finance, marketing, and operations. Each book includes fundamentals, important concepts, and well-known principles, as well as practical applications of the subject matter.

Designed to facilitate understanding and retention of the material presented, each chapter contains the following pedagogical features:u Opening Case: Each chapter begins with an opening case highlighting strategies and actions followed by Indian companies while trying to exploit the opportunities present in a competitive environment.u Real World Examples: Each chapter contains a number of real- world examples illustrating how a particular firm has exploited the gaps present in the environment, using its own resources to best advantage. u Terminology: Key ideas and terms that are vital to understanding strategic management have been highlighted throughout the book and explained at the end in a summarised formu References: Each chapter is also supported by carefully selected references for the benefit of readers who might be interested in exploring the topic(s) further.u Personality Profiles: Personality sketches of leading corporate heroes have also been provided at appropriate places, illustrating the manner in which they fought against heavy odds and emerged as winners in the end.u Review and Discussion Questions : Following the terminology, review and discussion questions offer an opportunity to focus on each of the key ideas illustrated at the beginning of each chapter and stimulate clear thinking.u Research Inputs: The book provides a comprehensive coverage of a vast, growing subject well-supported by a wealth of research data collected from multifarious sources.u Concluding Case: Each chapter contains a thoroughly researched and widely-acclaimed case, picked up from Business Today, relevant to the topic in question.u Student Oriented Text: The subject matter has been presented in a simple and lucid manner, keeping the unique requirements of students in mind.

MINI CASE: Will the United Kingdom Join the Euro Club? -- CHAPTER 3 Balance of Payments -- Balance-of-Payments Accounting -- Balance-of-Payments Accounts -- The Current Account -- The Capital Account -- Statistical Discrepancy -- Official Reserve Account -- The Balance-of-Payments Identity -- Balance-of-Payments Trends in Major Countries -- INTERNATIONAL FINANCE IN PRACTICE: The Dollar and the Deficit -- Summary -- MINI CASE: Mexico's Balance-of-Payments Problem -- APPENDIX 3A: The Relationship Between Balance of Payments and National Income Accounting