In the present era of network economy, wherein the economic activities are driven by a network of relationships and transactions occurring at different points across the globe, there is a need for different behavioral outlook among all of us. As people are involved in these activities, the network rules of HR seem to be quite different from the traditional ones. This article, aims to assess the current status of some HR practices in business enterprises of network economy.

The present economic era is popularly called `Network Economy'. It is also called `Service Economy', `Knowledge Economy' and `Wired Economy'. Basically, all these terminologies connote a scenario whereby the economic activities are driven by a network of relationships and transactions occurring at different points across the globe, and the network itself is enabled by the use of appropriate technologies as required by the user. Hence, the network economy is driven by information, knowledge and decisions involving material, emotional wants and needs of a variety of consumers.

Although a formal or informal network always existed in the past for organized trade and commerce, today the network has become both formalized and global. The `digital era' has made the economy borderless and seamlessly integrated. As a result of this, business enterprises are now using technology and relationship as weapons to gain competitive advantage in the market place. Kevin Kelley, in his path-breaking research on network economy, has enumerated the now-famous `Rules of Network Economy'. People working in the network economy have to transit from the traditional ways of working and behaving to new ways as demanded by the current times.

The role of the HR professional has changed considerably, even when compared to last five years. The HR professional today is regarded as a part and parcel of business per se and not as just a staff function person who is detached from the main business action scenario. Thus, it is abundantly clearly that the HR professional needs to have and develop the business focus and also talk the language of business.

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