Human Resource is a very important part of any company regardless of the size of the company. The main purpose of human resource is to hire qualified employees while keeping the cost low yet provide benefits and training to retain those employees to make a company successful. To maintain the standard of a company HR has to face many challenges and come up with strategies to face those challenges. With many changes happening in work area, it must be extremely challenging for Human Resource Management to maintain the standard of a company. With many questions in mind such as what can be the reasons human resource facing challenges, what kind of challenges they are facing, and how to overcome those challenges, I started researching on these topics and came up with many articles that provided great amount of information and surveys that provides a clear answer to my questions. This paper is based on the report, “What's Next: Future Global HR Trends” conducted by Mark Schmit, the executive director of the Society of Human Resource Management. The main purpose of this article
The article “What's Next: Future Global HR Trends” provides an in-depth information of how the changing ‘nature of work and workers’ are challenging the Human Resource Management in adapting to a rapidly changing worker profile, globalization and diversity in the work force, understanding the delicacies of workers’ qualifications, hiring qualified employees while keeping the costs low, retaining and engaging the employees, and coping up with technology changes. The article also contains survey results that show the main challenges Human Resource Management is facing globally, discusses the reasons behind the challenges and provides strategies to overcome the situation. “The top three challenges organizations face today are leadership development, employee retention and engagement, and "re-skilling" the HR function, according to a survey of 2,532 business and HR leaders at organizations in 94 countries.” (Meinert, 2014) The key question that the author (s) is addressing
The key questions addressed in the article are,
How companies can be dynamic and flexible enough to manage and adopt changes to face the challenges of hiring appropriate staff, retaining quality employees, keeping employees engaged, and providing training to the current employees. What are the two main reasons Human Resource Management are facing challenges for: changes in nature of workers and in nature of work. Changes in nature of workers and work relate to the diversity of gender and age in the work force, finding and hiring skilled workers, retaining and engaging the workers with proper training, managing the risk of globalization, and aligning business the technology. What are the challenges faced by Human Recourse Management: adjusting to a quickly changing worker profile, adapting globalization, diversity in the work force, understanding the workers’ credentials, hiring qualified employees while keeping the costs low, retaining and engaging the employees, and surviving the technology changes. The most important information in this article
The strategic information of how HR needs to reform their strategies to keep challenges such as changes in the trend of work force, diversity, globalization, technology advancement, maintain a lower retention rate, hire the correct people, and provide appropriate training needed to maintain the standard of the company. The following chart shows the result of the survey conducted by Deloitte University which indicates areas where companies need to pay more attention, change their strategies, and rebuild their existing approaches to face the above challenges. Schwartz, J., Bersin, J., & Pelster, B. (2014)http://dupress.com/articles/human-capital-trends-2014-survey-top-10-findings/ The main point(s) of view presented in this article is (are) The first main point discussed in the article is the rapid growth in the gender diversity in work...
Please join StudyMode to read the full document