Human resource (HR) & social challenges faced by microfinance in India: a framework

Abstract

This paper examines theHR issues faced by microfinance institutions (MFIs), small & medium scale enterprises (SMEs), and the informal sector in India. Social challenges of poverty alleviation (repayment risk, lack of business skills training, village infrastructure etc.) and women empowerment (lack of household investment decisions, outreach, social exclusion of widows or minor community women, multiple borrowings for non-investment purposes)etc have been discussed in the paper. Some HR issues fa c ed by MFIs are high labor turnover, low participation of women in employment, over burden of work, informal hiring (employee referrals) low compensation, lack of training and development facilities.