EMERGING TRENDS IN HRM
The management has to recognize the important role of Human Resource Department in order to successfully steer organizations towards profitability. It is necessary for the management to invest considerable time and amount, to learn the changing scenario of the HR department in the 21st century. In order to survive the competition and be in the race, HR department should consciously update itself with the transformation in HR and be aware of the HR issues cropping up. With high attrition rates, poaching strategies of competitors, there is a huge shortage of skilled employees and hence, a company's HR activities play a vital role in combating this crisis. Suitable HR policies that would lead to the achievement of the Organization as well as the individual's goals should be formulated. HR managers have to manage all the challenges that they would face from recruiting employees, to training them, and then developing strategies for retaining them and building up an effective career management system for them. Just taking care of employees would not be enough; new HR initiatives should also focus on the quality needs, customer-orientation, productivity and stress, team work and leadership building. This book is divided into two sections that throw light on the emerging HR trends and discusses HR issues in various industries like financial services, IT, Power, Healthcare, to name a few. This book should be valuable for practicing HR managers of every organization and also for those who have a significant interest in the area of Human Resource Management, to realize the growing importance of human resources and understand the need to build up effective HR strategies to combat HR issues arising in the 21st century. Introduction
Human Resource Management has evolved considerably over the past century, and experienced a major transformation in form and function primarily within the past two decades. Driven by a number of significant internal and external environmental forces, HRM has progressed from a largely maintenance function, with little if any bottom line impact, to what many scholars and practitioners today regard as the source of sustained competitive advantage for organizations operating in a global economy. CHANGES IN HRM : Some of the significant changes that are likely to take place in the human resource management are as follows: 1. Increase in education levels: Due to technological progress and the spread of educational institutions workers will increasingly become aware of their higher level needs, managers will have to evolve appropriate policies and techniques to motivate the knowledge of workers. Better educated and organized workforce will demand greater discretion and autonomy at the work place. 2. Technological developments: This will require retraining and mid-career training of both workers and managers. Rise of the international corporation is proving new challenges for personnel function. 3. Changing composition of work force: In future, women and minority groups, SCs and STs would become an important source of man power in future on account of easy access to better educational and employment opportunities. Therefore manpower planning of every organization will have to take into consideration the potential availability of talent in these groups. Changing mix of the workforce will lead to new values in organizations. 4. Increasing government role: In India, personnel management has become very legalized. In future private organizations will have to co-ordinate their labour welfare programmes with those of the government private sector will be required increasingly to support government efforts for improving public health, education training and development and infrastructure. 5. occupational health and safety: Due to legislative presence and trade union movement, personnel management will have to be more...