A country can be said to be the bigger version of a company. Ain’t it, right? Just like for any country people are its asset, for a company- its employees are its biggest asset. India is no different.
The Indian economy is the seventh largest in the world going by its Gross Domestic Product and the third largest in the world going by its Purchasing Power Parity. It is continuously growing even with the economic downturn sweeping the world. The economic future might be gloomy for the world, but not for India- it seems.
A country is a structure that is built with the bri
cks of products and services delivered by the different companies. Different companies are managed by the HR practitioners which form the capstone of the structure. The business is booming in India with the robust human capital management and the human resource development served out by the HR practitioners.
The post-independent India looked at the human resource development from the prism of the transaction and industrial relations which slowly gave way to personnel management and until liberalization came along and human capital management transformed to the global business standards. The recent aspect of human resources is offering high-value and best in class services for the ever-changing India which is basically a young demography. The competition in the Indian market has increased manifolds and so has the broad service portfolio of the human resource management with a thorough knowledge of standards and regulations.
The landscape of the HR certification in India has also taken positive turns for the economy. The top management institutes of the world are setting up their houses in the country and HR certification in India has become another big force to reckon with. A number of HR practitioners go for a higher HR certification in India for the human capital management that is effective and without holes.
The HR practitioners have to think of a long-term strategy of broader services spectrum covering the complete portfolio of human resource development. The homegrown companies have to address the issue of adoption-maturity to tackle the complexity and scale of a diverse and multi generational workforce. Though recruitment and talent acquisition still forms the larger pie of the human resource management services share, other aspects of the multi-faceted human resource development such as talent retention, compensation and benefits, human capital analytics, and training and development- lags behind.
The HR certification in India has come a long way and has still to tread many milestones before it comes of age.
Business complexities are growing and so does the employee lifecycle. A lot has to evolve on the front of human resource management functions and HR practitioners still lack the maturity and adoption of the world’s standards of effective human capital management. Awareness and education about succession management, leadership development, talent management, and employee engagement can only come through a system of robust HR certification with standardized curriculum and comprehensive policies and practices.