IMPORTANCE AND CHALLENGES OF HUMAN RESOURCE ACCOUNTING IN INDIAN COMPANIES
Keywords:
Human Resource Accounting, Human Resources, Human Capital, Objectives, LimitationsAbstract
“Great vision without great people is irrelevant” Any business entity or institution strives hard for achieving profits, reputation within the society, customer retention and loyalty, business expansion, overcoming and eliminating competition of these goals can be made possible majorly by the workers of such organisations. It’s an undeniable truth that a well managed and highly cohesive work force is that the back bone of any organisation. Hence it becomes important for any organisation to contemplate on the number and quality of its workforce which involves a radical analysis and understanding of the time and capital invested on its human resources. This is commonly mentioned as human resources accounting. Even though, researches are happening since 1691 during this field, many organisations were merely considering their employees as paid workers. However, post 1960 it's gained momentum and lots of organisations have started practicing human resource accounting.
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References
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