ChallengesForecastingRecruitment planningPerformance managementTraining and developmentCompensation managementAttrition and Retention
Forecasting• To anticipate the no of employee and their specific skill requirements.• Required quantity of people with the required skills at the required time.
Recruitment planning• Identifying the right candidate suitable to the job in hand has become a challenge to the HR staff.• Many stages of tests, interviews and group discussions assist in appointing the ideal candidates.
Performance management• The challenge should be to create a performance culture.• To provide opportunities for enhancing performance.• Personal growth through job rotation and promotions.
Training and development• A suitable strategy to meet the immediate requirements and futuristic needs.• To be well equipped to handle the challenges in advance.
Compensation management• Offer best possible compensation package.• ESOP with the compensation package.
Attrition and Retention• Money is not the single factor that attracts an employee.• New benefits which coax the employees to remain within the organization producing excellent performance.