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Human resources: New vistas & challenges

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  1. Introduction
  2. Future of HR in the 21st century
  3. Mergers and acquistions: HR perspective
  4. Human resource implications
  5. Facilitating easier transitions
  6. The organizational culture
  7. Grievance handling
  8. Grievance handling principles
  9. Motivation as key to performance improvement
  10. Reasons for hiring corporate alumni
  11. Types and models of e-hrm
  12. The current scenario
  13. Application of 6 sigma
  14. 6 sigma projects in HR department
  15. A study on attrition
  16. Concepts of cultural intelligence
  17. Employer of choice
  18. Talent management process
  19. Branding in HR
  20. Building analytical infrastructure
  21. Conclusion

Human capital is not about describing people as economic units; rather it is a way of viewing people as critical contributors to an organization's success. It can be measured and managed more effectively in coming times as and when the human resource functions evolve with emerging trends in HR. If we trace back the history of business environment, in the early years, trading patterns and markets were stable, technology was static, customers were passive, speed in getting to market was secondary, competition was limited to sectors and regions, and hierarchies were generally accepted in all walks of life. The twentieth century saw nations around the world become part of the global village, with trade barriers between them reduced or removed completely. Globalization of trade and economy had started taking deep roots in India. Events of the previous century have focused our attention on knowledge industries and quality of human resources. The rise of Brazil, Russia, India & China (BRIC countries) as economic power houses has attracted many nations of the world to establish businesses here. In the 21st century, world economy will be increasingly shaped by the emergence of China and India as major powers. There will be the emergence of the global labor market. As a result HR executives will need more sophisticated strategies to deal this workforce in coming times. India as a nation has become the hub of off shoring, introducing with it new challenges for human resource functions in India. There has been a continuing shift to services in the economy and a greater focus is on people performance rather than asset performance. For major service sector industries human resource is the major capital and resource pool. This concept has changed the workplace in India. Attracting, managing, nurturing talent and retaining people have emerged to be the most critical issues of this century. The new Indian professional is innovative, business savvy, has great ability to network, and possesses unbridled ambition. He is driven by an urge to experiment, scan new avenues, and work with creativity. Thus the concepts of leadership and managing people have undergone a radical change. Cubicles, hierarchies and rigid organization structures of the past have now given way to open work environment and flat structure being a general rule. The closed office rooms have been replaced by open work stations spread out in one floor, where the Assistant Sales Manager can pop in to the cubicle of the General Manager Sales to discuss mundane topics like the usual stress load or a Friday night movie.

[...] If the Human Capital Management team had more foresight and a more realistic vision of job availability, it would have selected its employees prior to the training procedure, saving money, time and, most importantly, the reputation of the company. In the new economy, product features, pricing, and positioning become almost irrelevant as competitors can now mimic and upstage your efforts in very short periods of time, thanks in part to innovations in technology and reductions in global barriers. While this development forces marketing to become more and more branding oriented, it also forces corporate attention on other avenues that can be used to establish and maintain a corporate brand in the marketplace. [...]

[...] Adds Rajeev Malik, director, HR, McAfee Software (India), ?Conducting regular meetings and updating employees, especially new entrants, about the company's status and achievements is a must Employee's advocate One of the main reasons why employees leave IT companies is because of problems with their managers. An HR professional can be termed an employee's advocate and a bridge between top management and employees at all levels. There is a huge gap between HR professionals and IT professionals in terms of understanding challenges and delivering requirements. [...]

[...] The freedom to choose could be given to the new age employee's & tomorrow's workforce as the new generation, known as the Gen is more dynamic than its predecessors and works on a free will. It may be difficult to deal with the new generation as they may seek more returns for their work and command a say over matters relating to them. The definition of freedom to employees may change in this scenario and each employee may become a leader Changes in work schedules with the disappearance of weekends The present times are witnessing more autonomy over work as people are able to avail advantages of technology in getting work executed. [...]

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