Authors:

Hely Shah

Abstract:

Micro, Small and Medium Enterprises (MSMEs) are backbone of India. They are second largest employer in the country after Agriculture. Due to Covid-19 Pandemic, MSMEs across India came to a standstill which caused major economic losses and daily workers were left to fend for themselves. This made it important for the companies to utilize their manpower efficiently and implement ‘Maximum Work, Minimum Workforce' model. This creates a need for proper formal HRM in organizations especially MSMEs so that they harness the full potential of their employees and employees can ensure their job security. This study aims to assess the current situation of HR practices in MSMES and finding determinants of formalization of HRM in MSMEs. Major determinants of formalization of HRM were discussion and it can be concluded that formalization of HRM will help the businesses to survive the impact of pandemic and grow.  

Keywords:

MSME, Gujarat, HRM, Formalization of HRM

Vol & Issue:

VOL.14, ISSUE No.Special Issue 1, january 2022