An Empirical Study on the Impact of Human Resource Transfer on Punjab Economy

An Empirical Study on the Impact of Human Resource Transfer on Punjab Economy

Mr. Puneet Khanna

Research Scholar, Department of Business Management and Commerce, Desh Bhagat University, Mandi Gobindgarh, Punjab

Dr. Manoj Kumar

Assistant Professor, Department of Business Management and Commerce, Desh Bhagat University, Mandi Gobindgarh, Punjab

Abstract

This research explores the effects of labor migration on Punjab’s economic development in terms of trends in migration, remittances, employment and skill development. The main purpose is to develop a model that describes the impact of the change in human resources on the Punjab economy. Employing a sample size of 100, data was gathered by structured questionnaires and analyses were done using regression analysis in SPSS. The conclusion shows that labor migration trends play a significant role in the economic development as there is a high positive relationship between migration patterns and economic returns in the area. On the other hand, remittances, employment changes and skill development did not have statistically significant effects. The model accounts for about 29.1% of the variability of economic growth, with labor migration being the most significant predictor. The study finds that migration is strongly associated with economic growth in Punjab, but there is more that needs to be understood about other variables like remittance and skill development. The findings of this research highlight the importance of further research into the topic of migration and indicate directions for further research to specify the connection between labor migration and the development of the region.

Keywords: Labor migration, economic growth, migration trends, remittances and employment changes.