Gone are the days when HR practices in India followed the stereotyped jargons for management practices like planning, organizing, staffing, controlling and so forth. The fact is, today, many experts feel that HR practices are redundant, obsolete and do not serve any useful purpose. It has neither an important thing to deliver nor any role to play in the organizational achievement. In fact, HRM is merely expenditure to management without any gain in terms of contributing money to the organization. So, it is time to revalue and have a deeper look at the changing frame of HR at the crossroads of change in contemporary management styles.

Peter F Drucker, with his foresight, predicted the changing world economy in the new millennium when innovation and entrepreneurship will become dominant with a spectacular growth of knowledge management. He envisioned that MNCs will be spreading out with their new values, ethics and work styles demolishing the concept of company loyalty and giving way to the demand of immediate reward for individual achievement and initiative.

John Naisbitt's prediction in 1980s, in his Megatrends in Management, highlighted the impact of information revolution, in the organizations with changes in the role-play of managers dealing with both large-scale global operations and more compact and complex organizational structures, which is bringing new relationships with diverse highly-skilled workforce.

Peter Drucker had predicted that organizations would make drastic cut in the number of management levels and also cut in the number of workforce, especially, "service" staff who analyze and advice rather than "DO". More "DO" people would be needed rather than "service" people. Prophetically, Drucker wrote that "many more will be in their terminal job" at a fairly early age rather that on a "promotion track". It means loss of a job when "lifetime employment" had virtually been taken for granted and it also means the anxiety of job-hunt and a painful relocation.

HRM Review Magazine, HR Practices in India, Management Practices, Peter F Drucker, World Economy, Information Revolution, Organizational Structures, Industrial Policy, Bureaucratic Methods, Monopolistic Structures, Political Environment, Industrial Employment, Maternity Benefit Act, Workmen Compensation Act, Voluntary Retirement Schemes.