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Understanding of Contemporary Human Resource Management

In recent era human resource management (HRM) got a considerable popularity and attraction among corporates. Chief operation officers of corporate world are enthusiastically engaging in HRM to understand its financial worth for the organizations. Human resource management (HRM) is a set of formal systems of an organization that ensures the most effective and efficient use of available human capital for the attainment of organizational objective. Human Resource management has become the best source for organizational competitive advantage.