Human resource management (HRM) is the new version of personnel management in the age of neo-liberalism and market economy. In this competitive age, this area is emerging as more strategic in nature to achieve a competitive advantage. Whether an organization is service-oriented or manufacturing, it is important to respect and use its human resources in order to achieve this advantage in these times of increasing challenges and opportunities in external environment. What is important is to make a proper 'fit' to grab opportunities and meet these challenges by managing human resources. However, unlike other resources, human resources are difficult to manage. It is because they are people who manage other resources. Realizing this fact, this book aims to deal with human resource dimensions in organizational settings imperative for the strategic use of the firms’ resource to secure a competitive advantage. The sixteen chapters in this book deal with the different aspects of human resource management which are of great importance in managing people and achieving a competitive advantage.
The bottom line of managing human resources is to increase organizational performance. This is largely determined by how an organization is successful in making strategic decisions on recruitment and selection, training and development, performance evaluation and reward practices so as to enhance organizational performance. Days are gone when managing HR practices was the responsibility of HR departments. Nowadays, performance enhancement is the responsibility of every manager. Therefore, while making strategic decisions on HR practices, it is imperative to involve line managers. In fact, the line managers are the real HR managers who are responsible for performance enhancement. HR department heads and experts working in the department have to understand this message to cooperate with line management in the management of this valued resource to raise organizational performance.