The present era of ‘network economy’, wherein the economic activities are driven by a network of relationships, network of transactions occurring at different points across globe, brings with it a lot of challenges for HRM in general and HR professionals in particular. This article assesses the current status of some HR practices in business enterprises of network economy.

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 make transition from the traditional ways of working and behaving to new ways as demanded by the current times.

HRM Review Magazine, Talent Management, Leadership Development, Human Resource Management, HRM, Information Technology, IT, Network Economy, Talent Management, Electronic Services, Knowledge Industry, Impact Assessment, Employee Relations Management, ERM, Talent Management Group.