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HRM Practices Journal of Asia Business Studies Investment and collaboration: the Indian model for “best” HRM practices Pramila Rao, Article information: To cite this document: Pramila Rao, (2016) "Investment and collaboration: the Indian model for “best” HRM practices", Journal of Asia Business Studies, Vol. 10 Issue: 2, pp.125-147, https://doi.org/10.1108/JABS-03-2015-0033 Permanent link to this document: https://doi.org/10.1108/JABS-03-2015-0033 Downloaded on: 16 October 2017, At: 04:54 (PT) References: this document contains references to 88 other documents. To copy this document: [email protected] The fulltext of this document has been downloaded 344 times since 2016* Users who downloaded this article also downloaded: (2016),"Determinants of a successful cross-border knowledge transfer in franchise networks", Journal of Asia Business Studies, Vol. 10 Iss 2 pp. 148-163 <a href="https://doi.org/10.1108/JABS-05-2015-0052">https://doi.org/10.1108/ JABS-05-2015-0052</a> (2016),"Design leaps: business model adaptation in emerging economies", Journal of Asia Business Studies, Vol. 10 Iss 2 pp. 105-124 <a href="https://doi.org/10.1108/JABS-01-2015-0009">https://doi.org/10.1108/JABS-01-2015-0009</a> Access to this document was granted through an Emerald subscription provided by emerald-srm:616458 [] For Authors If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.com Emerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services. Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Downloaded by ABE, Miss Claire Siegel At 04:54 16 October 2017 (PT) Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. *Related content and download information correct at time of download. Investment and collaboration: the Indian model for “best” HRM practices Pramila Rao Pramila Rao is Associate Abstract Professor at the School of Purpose – The purpose of this paper is to examine human resource management (HRM) practices of Business, Marymount the top 25 companies identified as “best” in India in 2011. This paper provides insights into HRM University, Arlington, practices of a leading country in Asia that is playing a very important role in the global economy. Virginia, USA. Design/methodology/approach – This conceptual paper will use for its research analysis the business reports of the Outlook Business Magazine and AON Hewitt. AON Hewitt is a global human resource consulting company and is an established authority in identifying “best” companies in India since 2004. A qualitative content analysis was done of the business report to identify predominant themes. Findings – The analysis identified how the “best” 25 Indian companies offer progressive HRM practices that required careful investment and collaboration. This research showcases seven specific HRM themes that include elaborate staffing, investment in learning, work–life balance, egalitarian practices, developmental performance culture, generous benefits and engagement initiatives. Practical implications – This paper provides preliminary guidelines for global practitioners who may be interested in doing business in India. It also provides a model of “best” HRM practices adopted by 25 companies that could help other organizations identify successful HRM practices in India. Among the 25 companies, 16 are Indian companies and 9 are subsidiaries of multinationals. Originality/value – This paper outlines HRM “best” practices of organizations in an emerging Asian economy that has not been addressed before. This paper hopes to bridge this paucity in the extant literature by showcasing the “best” HRM practices from 25 “best” companies in India. It also provides an Indian model of “best” HRM practices that can be tested by other scholars for future studies. Keywords Emerging markets, Human resource management Paper type Conceptual paper 1. Introduction Downloaded by ABE, Miss Claire Siegel At 04:54 16 October 2017 (PT) The BRIC (Brazil, Russia, India and China) economies have become key participants in the global economy showcasing excellent gross domestic product (GDP) rates. These nations have specialized resources that attract varied foreign direct investments (FDIs) (Yang et al., 2008). India is considered a strong player with several of its industries demonstrating global acumen (Friedman, 2006; Gannon and Pillai, 2010; Meredith, 2008). The Indian economy has been experiencing robust economic growth since the 1990s with an average of 8-10 per cent annual increase in GDP, suggesting a strong business environment (Cappelli et al., 2011). From the early 1990s, the Indian government shifted from an insular trade policy to that of a progressive one towards FDI and multinationals (Jain et al., 2012). For example, India ranked fifth in the FDI Confidence Index for 2013 and second in 2012. This global index, established in 1998, provides multinationals valuable insight of the market confidence Received 25 April 2015 (political, economic and legal) of different countries as identified by prominent business Revised 18 July 2015 leaders. Leading multinationals have been establishing in India, demonstrating their 7 September 2015 Accepted 9 September 2015 business confidence for the Indian market. In 2012, India received $25.5bn in FDI from DOI 10.1108/JABS-03-2015-0033 VOL. 10 NO. 2 2016, pp. 125-147, © Emerald Group Publishing Limited, ISSN 1558-7894 JOURNAL OF ASIA BUSINESS STUDIES PAGE 125 multinationals in different countries such as Diageo (Britain), Starbucks (USA) and Ikea (Sweden) (Laudicina et al., 2013). Today, more than 100 of the Fortune 500 US companies have their research and development (R&D) centers in India. For example, Dell has recruited almost 20,000 software engineers in India. Similarly, Pearson Educational Technologies, an educational service leader, has moved its entire e-learning development to India because of the sophistication of the local information technology (IT) industry (Frauenheim, 2006; Khozem, 2002; Zakaria, 2006). As these multinationals establish their Indian subsidiaries, they make specific choices with regard to the kind of human resource management (HRM) practices they should follow (Yang et al., 2008). Traditionally, Indian organizations followed a paternalistic management style with a lot of emphasis given to personal relationships among employees. The concepts of loyalty and trustworthiness were important predictors for employees’ successes and professional achievements. The increased presence of multinationals in India has prompted local organizations to slowly change their conventional practices. The outlook of the Indian HRM departments transformed placing an increased emphasis on organizational efficiency (Jain et al., 2012). Today, several large and well-established Indian organizations offer progressive HRM practices such as stock options, merit-based pay, flexible work schedules and part-time jobs, which, until relatively recently, were not common in the Indian corporate world (Ramamoorthy et al., 2005; Som, 2006). For example, Tata Iron and Steel Company (TISCO), India’s oldest steel plant, replaced seniority-based promotions with performance ethic programs (PEP) to create accountability among its employees. Arvind Mills, a textile leader, introduced Selection Information System, a recruitment practice that allowed HRM managers to offer different online recruiting options which were not normally adopted (Som, 2006). Cappelli et al. (2011) in their study of 98 Indian organizations suggest that the hallmark of Indian business leaders is their attitudes towards their employees and customers. The Indian business leaders indicated that investment in HRM practices and collaboration with their stakeholders are their greatest strengths. Indian HRM leaders have prominent roles in their organizations, with 87 per cent of them suggesting they work with the top management teams in strategic operations. HRM leaders have realized that people management practices are critical to create those lasting impressions with both customers and employees. The purpose of this research is to detail the HRM practices of 25 “best” companies in India, as outlined by the Aon Hewitt research study. The results from this study were made publicly available, making it easy for researcher to analyze relevant data. The format of the paper is organized as follows: Downloaded by ABE, Miss Claire Siegel At 04:54 16 October 2017 (PT) the theoretical framework identifies Pfeffer’s classic “best” practice model. This section integrates a literature review of conceptual studies from different global regions on “best” practices; the methodology details the research method of content analysis adopted; the results describe the seven HRM themes from the “best” companies; the discussion section integrates the literature and results to enhance the reader’s understanding of this study; and the conclusion provides the contributions and a conceptual model of “best” practices in India. The focus of this
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