HR Issues Towards Managing MSMEs Operating in India During Globalization Trends (with Special Reference to HR Outsourcing)

Abstract

If you have never entered the world of subcontracting it seems a puzzling blend of products, rigid selling and in the past has carried a bad reputation. Today, when grooming with different parameters of economies is becoming harder for every industrialist day by day, it is for sure that this disaster of cost- knitting is affecting one of the upcoming sectors of present commercial age and that is SMEs. If one talks about Medium and Small Enterprises, one can simply say that they also act as feeder to the large scale enterprises, which are into support production activities for the big enterprises. As it is known that they have a small gestation period (processing period), i.e. stalk in- product out, which further acts fast profit generation to the domestic scale of production as compared to large enterprises. But still if one focuses upon its competency mainly in comparison to the globalized standards, nevertheless one stands far behind, irrespective of availability of sufficient resources. Here the big question arises that in what terms and why? This review is an attempt to navigate some upcoming disasters in concern with managing the workforce employed in these small and medium enterprises, especially with respect to manage the cost incurred over the human capital- “A key capital for strengthening the enterprise's credentials”.