| | DECEMBER 20198By Subir Verma, Head ­ Business HR (Generation), Tata PowerSubir is a writer, speaker, HR leader and startup mentor with decision making ability, conflict management skills laced with sensitivity and maturity, multi-tasking skills, and good relationship management skills.It is interesting to compare the list of Fortune 500 companies of 2014 and 1955, only 61 compa-nies appear in both the list. This means 88 percent of the compa-nies have either merged, gone bankrupt or fallen significantly. It can also be perceived that con-stant turnover in Fortune 500 companies is good as it reflects dy-namism, innovation, business exe-cution and excellence displayed by the new companies.In highly competitive and global environment, disruptive changes, responsiveness, techno-logical updates and path breaking innovations have to be the core competency of any organization, which also separate the winners from the losers. Managing these is a difficult process, but indeed essential for all functions includ-ing HR. Time has come when most of the HR professionals need to move from generic models of HR and `best' practices syndrome to organization based customized people, practices and business pro-grams which directly impact top line and bottom line of the com-pany to drive excellence and com-mand respect for the function.HR must transition from HR partner (a cost center) to part of business (a profit center) mode. HR professionals should not pay much attention to the advice of becoming a good business partner, align with business but focus on innovation, and create & contrib-ute through new business model, may be in a small way to start with. Besides core HR activities, here are two category of thoughts to improve top line and impact bot-tom line, which can help HR gain more perceived importance by driving business excellence and di-rect growth of the company.1. Create impact with HR initiatives 2. Create impact with beyond HR initiativesHR FROM COST CENTER TO PROFIT GENERATOR ­ IMPACTING BUSINESSES DIRECTLYTHOUGHT LEADERSHIP
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