The first question that may strike a reader can be that are the doctors some what different or do they require some special kind of the financial planning? The reply can be yes at times and even no at some other times depending on the different types of the situations. The doctors are also the human beings and hence they also behave like their patients in most of the cases which is one of the most solid reasons they should look out for a structured approach in the management of the money. Yes there are some specific challenges in the life of the doctor so at that times, they will need a specific and some what more of the attention. The doctors generally start earning in the late 20s unlike the other professions like that of the engineering or the C As because of the reason of the pattern of the studies towards the various types of the specialisations. Getting the degree of the doctor is a result of the hard work that is done for the several years in the field of the academics followed by the many years of the training and then spending the huge sum of the money. The M B B S, the post graduation, the specialisation etc., all of this takes quite of the time of their youth and the initial money compounding years.

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The step or the process or the responsibility of the human resources training by the human resources department is very important for any type of the company to be imparted to survive in this world of the extensive competition. The staff can be hired by the human resource department or the already working staff of the company can be retained back by the human resource department but it is very important to train the staff according to the needs and the requirements of the specific department of the company in order to work according to the specific vision of the company and for the achievement of the set goals with in the specified period of the time. In the case of the all ready working employees of the same company, they are hired up on by the same company to perform certain higher roles in the same company in the same department or some other department, so here it becomes very important that the department of the human resource works up on this piece and takes various types of the steps to train them according to the needs of that department as then only the performance of these employees can be enhanced up to the desired level. And in the case of the work force that is hired or brought up on in to the new company from some other company, it becomes all the more important and vital to be imparted with the training. The main reason for this is that these employees being new to the company will not at all be aware of the working ambience of the new company and hence it becomes the responsibility of the department of the human resource to make these new staff members aware of the present policies of the human resource and to discuss with them the vision and the aim of the company in order to yield the most out of the employees in a very phased manner and with in a given specific time period.

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The nation has seen such situations that the various sectors of the nation were not expecting at all. The various decisions that have been taken by the government of the India like of the Demonetisation or the coming up of the GST, the various sectors of the society have been left with a shock and are still in the shock, trying to recover from the situations that has caused a huge drop down in the there graph of there growth. One of the sectors that have been really hit in the recent time is that of the Informal Sector that is still in a huge shock as the GST paper work has caused a blockage in the working capital. The major reason that has been conveyed by the various economists in India or even by the various economists present worldwide, say that the nation was not at all ready for these drastic changes as the necessary preparations were not at all in the place to cope with all this. According to the recent Trade and Development Report, 2017 from the UNCTAD, Geneva, India and the China are no longer the growth poles of the world. The global economy needs a stimulus because its growth rate slowed down to 2.5 per cent from the 3.2 per cent in the pre-financial crisis days and India did provide a boost in the past. Today India’s GDP growth has slipped to a lower position than China’s (6.7 per cent). While china has experienced high growth for the nearly 3 decades, today it is facing a challenge of the high wages and the high input costs. For India it is facing a different type of the challenge as in the case of India it is a very different story. The industrial and the export sectors growth have slowed and the service sector growth has been facing the problems for almost a year. The informal sector has been badly hit by the demonetisation and the GST and it’s as a result of all this, the output has contracted. The decline in the output of the informal sector when properly measured will show even a sharper decline in the GDP growth than the 5.7 per cent recorded in the April-June quarter of 2017-18. The unorganised or the informal sector constitutes an important part of the economy contributing, according to the landmark National Commission for the Enterprises in the Unorganised Sector Report (2009), 50 per cent of the GDP. Even though it employs around the 90 per cent of the labour force, the conditions of the work in the sector are dismal and the demonetisation has hit it very hard.

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The compensation management forms the very important subject of the human resources and is actually the policy that is implemented in the general terms in the conjunction with the specialised soft ware that is designed in order to help the organization to maximise the available talent returns. The main goal of the compensation management is to reward the right type of the people to the most possible extent just as a response for the most relevant reasons. The compensation is a very systematic type of the policy that focuses on the approach to provide the monetary and the non monetary value to the workers in reply of the work that has been performed by them. In some of the scenarios the compensation management may be referred to as the money that is received according to the performance of the work and also the many kinds of the benefits that are received by the employees and are given by the organisation. The compensation management is required a lot these days and forms the major part of the process of the recruitment process and the selection process. It plays a very major role to recruit and then retain the qualified employees in order to increase the morale of the employees or at least maintain it to the present level. It helps to know about the basic wage and the salary and also helps to reward the employee for the job performance.

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The process of the selection is defined as the process or the action of carefully choosing some one or any type of the thing after recognising it to be the best or the most suitable. It is the choice of the consumer of a product or the service that a particular type of the company offers to its consumer. Any type of the business with a wide array of the available choices is often considered to have a wide selection. Putting out a good selection of the various types of the products will make it more likely that a customer finds some thing that they want to buy. The process of the selection was a lot easier than is appears to be as obvious, it is to put the best people forward from the selected ones. The process of the selection is actually an act or the instance of selecting or the state of being selected, the choice. It is a thing or the no of the things that have been selected. It is an aggregate of the things that are displayed for the choice, the purchase, and the use etc, a group from which a choice may be made. The selection is the process or the act of the selecting or the state of being selected. It is actually a natural or the artificial process that results or tends to result in the survival and the propagation of some of the individuals or the organisms but not of the others with the result that the inherited traits of the various types of the survivors are perpetuated.

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