Human Resource Management (HRM) has evolved into a strategic function that plays a critical role in developing workforce capabilities and fostering innovation. This study examines the role of HRM in promoting skill development, vocational training, and entrepreneurship through a comparative analysis of selected companies—Tata Consultancy Services (TCS), Siemens, and Infosys. Using secondary data from company reports, journals, and official publications, the research analyzes HRM strategies that enhance employee skills, support job-oriented training, and encourage entrepreneurial behavior within organizations. The findings reveal that effective HRM practices such as continuous learning platforms, vocational training partnerships, and intrapreneurship programs significantly contribute to workforce readiness and organizational competitiveness. While IT firms emphasize digital and knowledge-based skills, manufacturing organizations focus more on hands-on vocational training and apprenticeships. The study highlights that aligning HRM strategies with business goals and technological advancements leads to sustainable growth and innovation. The paper concludes that HRM plays a pivotal role in bridging skill gaps, enhancing employability, and nurturing entrepreneurial culture, making it an essential driver of both organizational and economic development.