challenges of hr prospects

Topics: Human resource management, Human resources, Management Pages: 6 (1232 words) Published: February 28, 2014
CHALLENGES AND PROSPECTS IN HR IN THE MODERN ERA
Author: K.Gandhimathi
Student, III B.Com CA
Department of Commerce
Don Bosco College.
mani.rmkannan@yahoo.com
Mobile:9025858686

Co-Author: Prof. I.James M.Com., M.Phil.,
Assistant Professor
Department of Commerce
Don Bosco College
Dharmapuri.
jamesmanoher@manil.com
Mobile: 9865408445
Abstract
Human resource element works towards the Vision, Mission and Goals of an organization. The three roles of HRM in any organization are transactional, transformational, and transitional. The challenges faced by human resource managers in India are naturally evolving with the ever-transforming scenario in corporate India. Some of the major challenges which HR faces in India today are discussed hereunder. Key words: Challenges, Human Resource, Talent, changes.

Introduction
Human resources are the life blood of an organization. Despite the application of technology in modern business management, human resources are still relevant and most adaptive resources of the organization. The essential attribute of HR assist the enterprise to make rightful decisions and respond effectively to the threats and opportunities within the environment of the organization. Thus the enterprise depends highly on its HR for success and survival. The management of HR is complex and problematic because the individuals as workers hardly adapt or voluntarily embrace the objectives of the organization. As individuals, the employees have needs, aspirations, motivations, desires and interests which influence their behaviour at work. Human Resources Management and Planning are useful tools employed in harmonizing the needs of the employees with the goals and objectives of the organization on a continuous basis.

The Challenges of Human Resource Management in a Globalised Economy The competitive pressures faced by the modern day enterprise for survival and success due to globalization and liberalization will continue to create room for future demand for organisational excellence. The new, global, complex, and often chaotic world of the Multi- national Enterprises requires a new strategic focus and new capabilities from HR just as it does from other management functions.

Today’s top 10 Human Resource Management Challenges
Due to the fluctuating economy as well as local and global advancements, there are many changes occurring rapidly that affect HR in a wide range of issues. In the Survey of Global HR Challenges: Yesterday, Today and Tomorrow, disclosed the following top 10 human resource management challenges:

Challenges
% of Companies
1. Change management
48%
2. Leadership development
35%
3. HR effectiveness measurement
27%
4. Organizational effectiveness
25%
5. Compensation
24%
6. Staffing: Recruitment and availability of skilled local labor 24%
7. Succession planning
20%
8. Learning and development
19%
9. Staffing: Retention
16%
10. Benefits costs: Health & welfare
13%

Facing Modern HR Challenges Head on:
The proliferation of technology and changes in the business environment have increased the importance of human resources in the modern world. The major challenges facing human resources arise from this elevation of human resource activities to a core strategic function. Managing Globalization

It is important for an HR Manager to study people management practices before implementing new practices which are global in nature. It has become a challenge for the HR to educate its workforce on how globalization can be leveraged and how an individual employee benefits or is affected by it. Instead of thrusting new practices upon them, it is ideal to study the existing practices which are in place. Developing Leadership Skills

It is not just about knowledge, experience and expertise it is also about developing the...

References: 1. Briscoe, D.R; Schuler, R.S and Claus, L (2009) International Human Resource management: Policies and Practices for Multi-national Enterprises (3ed.) N.Y, Routhedge.
2. Burton, L. (2003) “The Next Big Thing”, People Dynamics 21(2).
3. Health field , S.M. (2004) “Four Trends Shaping Your Future. About
4. http://humanresources.about.com/library/weekly/nosearch/naao10602b.htm. Date accessed: 10th January, 2011.
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