The conference, organised by the Center for HRD & SAPPHIRE, XLRI,Jamshedpur, focused on `Transformations in HR: The Benchmarks'. Dwelling onthe changing role of HR and HR professional, Narayan said that knowledge-agewarrants that commercial corporations constantly generate superiorshareholder wealth or perish. Thus, all of HR's activities must deliverresults which create shareholder wealth.

Like all other functions, HR too will need to evolve processes to deal withthe changing world around it. But what was possibly most important for HR torecognise, Narayan felt, was the fact that ``the knowledge worker is now thekey player for competitive success; he is no longer the replaceable cog inthe train of gears of the 3S framework.''

Narayan felt that since time was now the essence, and corporations'competence to handle change was vital, all corporations have to becomelearning organisations. ``HR clearly has to deliver an important role inmaking corporations fast and good learners,'' said he.

Highlighting the three key roles for the emerging HR function from DaveUlrich's Delivering Results (1998 HBS Press), Narayan said HR could -- bybecoming a strategic partner, an agent of change and by creatingintellectual capital -- become an important function.

Elaborating the role of a strategic partner, Narayan said, strategic clarityseamlessly weaved together the short and the long term goals to deliver theorganisation's purpose. It created meaning and shaped employee behaviour anddifferentiated the firm to customers and investors.

As a factor of change the HR function must assist its organisation to buildcapacity to make change happen, not just as an event but in a sustainablemanner because change is permanent. HR professionals, he said, enjoyed atraditional power position which they must leverage to become the successfulchange agents.

Finally, as the future success of any corporation would evidently become afunction of its intellectual capital which is defined as competencemultiplied by commitment, the HR function has a key role to discharge inbuilding competence and employee commitment.

For all this, Narayan said, HR will need to add new tools to its traditionalarmoury, to make the firm a winner. ``Globalisation is a fresh opportunity.Culture change, adapting new technology, creating leadership for the futureand knowledge transfer tool kits will inevitably require to be mastered byHR.