A study about the challenges being faced by Human Resource Management

1. CHALLENGES OF
HRM IN THIS NEW
MILLENIUM
Indian Institute of Plantation Management

2. ACCORDING TO ADI GODREJ
“ALL CORPORATE STRENGTHS ARE DEPENDED UPON
PEOPLE”
Indian Institute of Plantation Management

3. WHAT IS HRM?
• HRM is the function performed in organizations that facilitates the
most effective use of people to achieve organizational and individual
goals
Indian Institute of Plantation Management

4. CHALLENGES IN HRM
• Companies that desire to maintain a competitive edge, both now and
in the future require human force well equipped to face the ever
increasing pace of technological changes and techniques.
• The rapidly transforming business landscape means that there are
currently many human resource management challenges which will
continue to evolve for years to come
Indian Institute of Plantation Management

5. The World Federation of People Management Association
(WFPMA, 2009) survey pointed out the most important top ten HR
challenges are
•leadership development
•organizational effectiveness
•change management
•compensation
•health and safety
•staff retention
•learning and development
•succession planning
•staffing: recruitment
•skill labour
Indian Institute of Plantation Management

6. LEADERSHIP DEVELOPMENT
• leadership development needs to be a critical strategic initiative.
• HR professionals are faced with being expected to provide the
essential structures, processes, tools, and points of view to make the
best selection and develop the future leaders of the organization.
• Managers should be equipped to take on leadership roles of the future
so that the organization is viable in the long term
Indian Institute of Plantation Management

7. CHANGE MANAGEMENT
• HR challenges in regard to change management include providing the
structure for change, administering changes in company policies and
explaining the changes to sceptical managers and rank-and-file
workers
• A lot of companies experience decreased productivity and morale
during periods of change.
Indian Institute of Plantation Management

8. COMPENSATION
• Even though salary is important, it isn’t always the most important
factor for job candidates.
• Creating a system to reward employees for excellent performance is
one way to make up for a lower salary.
• In addition, consider offering incentive programs such as profit
sharing or bonuses, which can be a win-win for the employee and the
company.
Indian Institute of Plantation Management

9. HEALTH AND SAFETY
• Rising healthcare costs mean companies must either pass these costs
on to employees, or take a hit to their bottom line.
• Since good benefits packages can be a deciding factor for potential
hires, understanding them is key.
• These benefits are affordable ways to offer extra perks—and they’re
extremely popular with today’s workforce!
Indian Institute of Plantation Management

10. STAFF RETENTION
• Most companies view recruitment as the most important of their HR
challenges
• Employee retention not only reduces the need to find new talent but
also provides the raw materials for promoting people in-house to
leadership positions.
• Employees have a tendency to job hop as economic challenges make it
difficult for companies to maintain high levels of pay over time.
Indian Institute of Plantation Management

11. LEARNING AND DEVELOPMENT
• Learning is a significant part of the performance when it comes to the
employees of a company.
• To ensure that we get the best performance from the employees, we
need to think of HR outsourcing for renewal of knowledge.
• Investing in the workforce helps us in having a loyal, productive team
Indian Institute of Plantation Management

12. STAFFING RECRUITMENT
• To bring in HR effectiveness, the human resource department must
try to look for people with a blend of competence, experience and
personality even though there might be a large pool of people with
general talent levels.
• Fostering high levels of employee engagement is the single strongest
solution to many HR challenges including recruitment efforts
• Fostering a culture of diversity, transparency, support of social causes
and inclusive hiring practices is an effective way to attract top talent
Indian Institute of Plantation Management

13. “YOU LEARN SOMETHING EVERYDAY
IF YOU PAY ATTENTION”
-By ReLeBlond
THANK YOU
Indian Institute of Plantation Management