EVALUATING THE ROLE OF HUMAN RESOURCE ACCOUNTING IN TALENT VALUATION AND RETENTION STRATEGIES IN INDIAN LAW FIRMS

Abstract

ABSTRACT

Human Resource Accounting (HRA) has emerged as a vital framework for recognizing and valuing the most critical assets of modern organizations: human capital. In the knowledge-driven legal industry, law firms heavily rely on their attorneys, paralegals, and support staff for competitive advantage and sustained growth. However, the Indian legal sector has traditionally lagged behind in integrating HRA into strategic human resource management. This research paper explores the theoretical foundations, applications, and impact of HRA on talent valuation and retention strategies within Indian law firms. It investigates the extent to which HRA can help these firms align talent management with business goals and maintain a competitive edge. Drawing on primary and secondary sources, this paper provides a critical analysis of existing literature, case studies of Indian law firms, and expert interviews, ultimately offering policy recommendations and implementation strategies for integrating HRA into the legal profession.