Abstract:

If you have never entered the world of subcontracting it seems a puzzling blend of products, rigid selling and in the past has carried a bad reputation. Today, when grooming with different parameters of economies is becoming harder for every industrialist day by day, it is for sure that this disaster of cost- knitting is affecting one of the upcoming sectors of present commercial age and that is SMEs.

If we talk about Medium & Small Enterprises, we can simply say that they also act as feeder to the large scale enterprises, which are into support production activities for the big enterprises. As we all know that they have a small gestation period (processing period), i.e. stalk in- product out, which further acts fast profit generation to our domestic scale of production as compare to large enterprises. But still if we focus upon its competency mainly in comparison to the globalized standards, nevertheless we stand far behind, irrespective of availability of sufficient resources. Here the big question arises that In What terms? & Why?

This review is an attempt to navigate some upcoming disasters in concern with managing the workforce employed in these small & medium enterprises, especially with respect to manage the cost incurred over the human capital- “A key capital for strengthening the enterprise’s credentials”.

Key Words:- Globalization, Competitive Environment, HR Issues, MSME, HR Outsourcing.