An Evaluation of Training and Development Policies and Practices in Selected Software Companies in Bangalore

Abstract

The evolution of HRM can be traced back to ancient civilizations, but its modern form emerged during the Industrial Revolution. HRM has evolved into a multidimensional field that encompasses various functions such as recruitment, training, performance appraisal, employee relations, and career development. In India, HRM is considered one of the oldest and most efficient management styles, playing a vital role in organizations and aiming to maximize human capital's return on investment while minimizing financial risks. Human Resource Development (HRD) focuses on expanding human capital within an organization through training and education. It views employees as valuable assets and aims to develop their performance through various processes. HRD aligns individual growth with organizational goals to maximize human potential and minimize financial risks. The introduction of the IT industry in India has had a significant impact on various sectors of the economy. Liberalization policies in the 1990s attracted domestic and foreign investments, leading to the establishment of multinational companies and the growth of the IT industry. The availability of skilled manpower, English proficiency, cost advantages, and supportive government policies contributed to the industry's success. The IT industry has generated significant employment opportunities and played a transformative role in India's economy, employment rates, and technological advancements.