Emerging issues: Effective management of human resources depends on refining HRM practices to changing conditions.

Hence the need to look at other important issues that can motivate people to give their best in a dynamic and ever-changing environment i. Personnel records: Personnel records such as papers, files, cards, cassettes and films are maintained to have tangible record of what is actually happening in an organization and to formulate appropriate HR policies and programs (based on historical records, actual experience and future trends) from time to time. Human resource audits: Human resource audit refers to an examination and evaluation of policies, procedures and practices to determine the effectiveness of HRM. Personnel audit (a) measures the effectiveness of personnel programmes and practices and (b) determines what should or should not be done in future. Human resources research: It is the process of evaluating the effectiveness of human resource policies and practices and developing more appropriate ones. Human resources accounting (HRA): It is a measurement of the cost and value of human resources to the organization. Human resource management is said to be effective if its value and contribution in any organization is more than its cost. Human resource information system: HRIS is an integrated system designed to improve the efficiency with which HR data is compiled. It makes HR records more useful to the management by serving as a source of information. Stress and counseling: Stress is the psychological and physical reaction to certain life events or situations. At an organizational level, stress results in burn out, substance abuse in the form of alcohol or drug use/dependence reduced job satisfaction, increased absenteeism and increased turnover. Companies, therefore, are closely looking at what should be done to promote the physical and mental well being of employees through proper counseling and employee development programmes. International human resource management: International business is important to almost every business today and so firms must increasingly be managed with a clear global focus. This of course, poses many challenges before managers including coordinating production, sales and financial operations on a worldwide basis. International HRM places greater emphasis on a number of responsibilities and functions such as relocation, orientation and training services to help employees adapt to a new and different environment outside their own country

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PERSONNEL RECORDS Personnel Records are records pertaining to employees of an organization. These records are accumulated, factual and comprehensive information related to concern records and detained. All information with effect to human resources in the organization are kept in a systematic order. Such records are helpful to a manager in various decision -making areas. Personnel records are maintained for formulating and reviewing personnel policies and procedures. Complete details about all employees are maintained in personnel records, such as, name, date of birth, marital status, academic qualifications, professional qualifications, previous employment details, etc. When recruiting qualified fresh manpower only those candidates are considered for employment who wants to make a long career in the Organization. The career plan as well as the salary structure should be discussed with them and it should be told to them that performance is the only criteria for their growth and if their performance is good, growth shall flow automatically. Records of prospective candidates are kept as per the companys requirements. While recruiting people for temporary operators, their relevant records are kept in hand by the company. Training period of trainees shall be one year. They will be issued an Appointment Letter. After completion of one year training only those trainees will be confirmed, who will get Good & Above rating during performance review. Corp. HRM keeps the performance report of each trainee for each phase of training from the departmental coordinators of various units. While working in shifts, the units may have 2 or 3 shift operations, records are kept as per the working of each shift to assess the productivity of each shift. Separate records are maintained for the labour department.

The Company has a policy that level VII & above categories of employees are entitled to companys car. Proper records in separate register is maintained by the Accounts department showing month wise recovery made per employee. Recovery implies the value which that employee brought to the company in lieu of the additional expenditure by the company on its car over and above the stipulated bar.

There is a standard, written and specified procedure for cash disbursement in the company. The cashier is responsible to maintain staff advance control register, imprest control register, and part of the salary register, whenever he will make the payment of aforesaid nature of expenses he shall make an entry in the respective control register of individual a/c accordingly. The cashier shall keep all the important documents such as Fixed Deposit Receipts issued by Banks. The Cashier shall be responsible for maintaining day book (Manual/ Computer generated) on daily basis / on disbursement day, after making the payments of a day and shall enter all the vouchers in the day book consisting voucher number and whom

amount is paid and shall tally with the physical cash available with him and shall make a detail of cash lying in the cash box on daily basis/ disbursement day. The company has a systematic policy of mail receipt and dispatch for efficient disposal of internal and postal mail. For inward mail, the details of mail will be entered in inward Mail Register. UPC/Courier/Regd. Letter/Govt. Letters must be entered in Mail Register. For dispatch, the mail particulars shall be entered in Outward Mail Register. Courier mail details shall be recorded in a separate register. The Office boys from HRM department shall take the mail to post office everyday. He will obtain the receipts for Registered Letter/Parcel and hand over to HRM Department. The HRM Department will enter the postage charges in Outward Mail Register and attach the slip with the respective page for records. PERSONNEL AUDIT A personnel audit is used to review whether the control tools, activities, and projects in human resources management are focused on strategic goals. The audit of personnel activities is a feedback mechanism which is important for improving personnel management and increasing company competitiveness. A personnel audit will increase its informative value if the results of personnel work, ideas and attitudes are formulated by an independent adviser, and it is possible to trace certain trends in the development of personnel work within the company. These trends are identified when comparing the current audit with those of previous years. As far as MINDA is concerned, the personnel audit is conducted as below: Business Excellence The group has collaborated with CII on a well defined 3 years business excellence program titled "BEST" (Business Excellence Through Simple Techniques). The programme covers leadership, strategy, people, process, customer satisfaction and business results. Quality Circles -- 50 Quality Circles are actively involved in the improvement projects across the group. Inter Unit Quality circle competitions are held quarterly to honour the employee efforts. Kaizen-- Involvement in Kaizen activities from all the levels. Unit and Group level awards are given to best Kaizen activities. 5 S --Emphasis is laid on "5S" principles.Internal audit is held every quarter. TEI -100 NK Minda Group target is to achieve 100 PPM level through Total Employees Involvement (TEI) during the year 2006-07.

NK Minda Group is a people oriented and people driven organization. An equal opportunity employer, the Group is known for attracting and nurturing talent. It offers challenging environment and growth opportunities for everyone. The Group offers a very conducive working climate and its policies are employee friendly. Focus on team morale is very high and no effort is spared to ensure that people at work place are comfortable and enjoy their work. Work environment is informal and employees are empowered to take day to day decisions. A number of Group activities like Quality circles and Cross Functional Teams are encouraged to solve work place problems.

NK Minda Group recognizes personal initiative, excellence and group effort. It offers ample scope for experimentation and research and encourages the employees to be creative. The team is rewarded for achievements and bettering their performances. NK Minda Group focuses on development of its employees by giving them precise inputs for both operational and managerial training. Annual Appraisal is one tool to define the performance level of each employee and it should be monitored regularly. Eventually it is the sum total of employee's performance, which decides the performance of the organization. Performance Management System : Performance Management system is aligned with performance of the Company. Individual are suitably rewarded for their contribution in achieving organizational goals and for his individual performance. Each individual is assessed on Performance vis--vis pre set target (what we call MPCPs), involvement in improvements projects, HRM initiatives and commitment to meet various organizational targets. Career Planning, Promotions, Job Rotation are integral part of the PMS. Alignment of PMS with all HRM initiatives is visible and correlated. Benefits : Benefits are important component of Rewards system. The benefits match, indeed better than the best available in the industry. Soft loans, medical, accidental and social benefits are part of benefit scheme. PERSONNEL RESEARCH Personnel research is the task of searching for and analyzing facts relating to the end and that personnel problem may be solved or that guideline governing their solutions derived. It includes : Formulation of a problem Selection of hypothesis Designs of experiment Description of sampling Collection of data Analysis and interpretation of data Report writing MINDA takes into account most of these aspects in conducting personnel research in the company.

HR ACCOUNTING Human resource Accounting is the process of identifying and reporting the Investments made in the Human Resources of an Organisation that are presently not accounted for in the conventional accounting practices. In simple terms, it is an extension of the Accounting Principles of matching the costs and revenues and of organising data to communicate relevant information in financial terms. Human Resource Accounting helps the management in Employment and utilisation of Human Resources.It helps in deciding transfers, promotion, training and retrenchment of human resources. MINDA HRA model was based on the present value of employees future earnings. It had the following assumptions: Employees salary package included all benefits, direct or indirect, earned both in India and foreign nations. The additional earnings on the basis of age and was also taken into account. All the employees were divided into 5 groups based on their avg age Each group compensation was calculated (including the compensation at retirement. Total compensation of each group was calculated. This had the following benefits: Employee costs remained almost the same Increase in value addition Net profits increased by more than 150% Value of human resources per employee increased significantly Information on absenteeism and employee turnover rate

MENTORING
This policy has been laid down to facilitate the employees to grow with the organization by support and guidance of senior members of the organization. Each member of Group MMC to become Mentor of one GET & one Fast Track employee of his unit. Each Unit MMC Member/ SBU Heads/ MD will also become Mentor for Trainees recruited through Campus. All the Trainees recruited through Campus will have one Mentor for initial 2 years. Mentor to be in a different function / department Mentors first meeting with the Mentee should be introductory. Meeting between Mentor and Mentee should be held atleast for 2 hours once in a month. During Performance Appraisal of Mentee, Mentor will not participate. Benefits of Mentoring : Mentoring creates empowered people. It generates peoples goodwill. A development culture settles in the organisation. There may be a higher employee retention. Core values of the organisation may be passed from generation to generation.