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Mangalore, Oct. 7

THE role of human capital in the country's economic development was highlighted at the inauguration of the silver jubilee conference of the Mangalore chapter of National Institute of Personnel Management (NIPM) here on Friday.

Delivering the keynote address on the topic `Leveraging human capital for organisational excellence,' Dr A.K. Balyan, Director, Human Resources and Business Development of Oil and Natural Gas Corporation Ltd, said that the human capital would be the prime driver in making India a developed nation. Unlike natural resources, human resource does not deplete with use. Stressing the need for tuning the human capital for the country's development, he said the improperly trained human capital could ruin the country.

Service and energy sectors provide good opportunities for the growth of human resource personnel. Dr Balyan urged the HR professionals to develop their own road map for their development.

Citing the changes that have taken place in human resource management at the organisational levels in the past few years, he said that the companies now do not hesitate to bring out radical changes in their way of functioning. Most of the companies are focusing mainly on knowledge management.

Highlighting the role of the HR professional in managing the changes at the organisational level, he said most organisations visualise the necessity of change when they are performing well. A good HR professional visualises changes and takes pre-emptive actions, he added.

Speaking on the occasion, Dr Arun Balakrishnan, Director (HR) of Hindustan Petroleum Corporation Ltd, said that nearly 30 per cent of people in the country are below the poverty line. Human resource personnel should think what they could do for the welfare of the people living below poverty line. Many corporates have initiated various steps in this matter, he said.

The human resource capital of India is the most sought after in the world because of the knowledge base, he added.

Nearly 200 people are attending the two-day conference.

(This article was published in the Business Line print edition dated October 8, 2005)
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