Human Resource Management in Textile Industry, its Impact on Profitability
For performance and profitability improvement of any company, a proper strategy, covering aspects like technical (productivity, product quality, wastages etc.) Improvements, image & marketing improvements etc needs to be formulated & implemented. For successful implementation of those formulated strategies needs to be done by employees (humans) and HRM plays a very vital role in success of this. In the following case study, how a proper HRM has helped company to implement its strategies and come out of red.
Key Words: Strategy Formation, Performance And Profitably Improvements, Human Resource Management.
Profitability Of Any Industry Depends On Money (Financial Inputs), Material (Raw Material & Other Store Spares Inputs), Machinery (Technology Used And Its Level Of Upkeep), Man (Employees - Human Resources), Systems / Procedures And Market (Demand And Price Position). But Over & All Above There Is One Most Important Aspect And That Is Culture - Ethics Of Company And People Working There. It Must Help To Create In The Mind Of All Employees A Bond Of Togetherness & Belongings To The Company And Every One In Company Must Feel This. This Is Real HRM and Most Importantly It Is Understanding of Human / Labour Psychology)
The Author is qualified textile technocrat with more than 40 years of experience right from Shop floor Supervisor to Director-Operations of a company. He has wide experience in troubleshooting, project planning and implementation and strategy formation for growth. At present he is working as consultant for World Bank and to many textile companies in India.