Up-gradation in Human Resource Management Practices for the Biotech Industry in India

The 21st century belongs to biotechnology as it made profound impact in the field of health, food, agriculture and environmental protection. India's biotechnology industry is poised to record substantial growth, perhaps even overtake the robust IT industry. The objectives of the study are to determine the existing HR practices in Biotech Industry and to understand the need for the up gradation in existing HR Policies. Conclusive and descriptive research design has been used. Data is collected from 122 employees in 23 companies of Biotech Industry. It was found that Biotechnology companies require managers with unique qualities. The lack of solid managerial training and the associated risk of failure often have long-term consequences for the careers of research professionals. The efforts to achieve excellence through a focus on learning, quality, teamwork, and reengineering are driven by the way organizations get things done and how they treat people. Biotech industry is trying to establish itself in India for last one decade but is not showing any phenomenal growth because they still do not valuing their human resource as much they should be.