EMERGING TRENDS OF HUMANRESOURCE WITH SPECIAL FOCUS ON “IT” INDUSTRY Submitted By: Debashish Mishra-11202202 Saurabh Singh-11202216 Pragnya Pattnaik-11202217 Ashirbad Kundu-11202235 Tripti Kumari-11202258
What is Human Resource Management? Human Resource Management (HRM) is the function within an organization that focuses on recruitment of, management of, and providing direction for the people who work in the organization It is also a strategic and comprehensive approach to managing people and the workplace culture and environment.
Areas of ImplementationRecruitment & SelectionOrganizational design & developmentBusiness transformation & change managementPerformance, conduct & behavior managementIndustrial & employee relationHuman resource(or workforce) analysis and the management of workforce personaldataCompensation, rewards & benefits managementTraining & development(learning management)
Human Resource Management Trends Demographics Characteristic of population/workforce Diversity Refers to variation within population/workforce Skills and qualifications Refers to individual skills of professionals.
HR trends in Pre-Liberalization PhaseLiberalized government policies led to diversificationof workforce and cross culture took place. HR trends in Post-Liberalization PhaseLarge population of India became a part ofmultinational and foreign units.
Emerging HR trends in India Highly skilled and knowledge based jobs are increasing while low skilled jobs are decreasing. Indian organizations are also witnessing a change in systems, management cultures and philosophy due to the global alignment of Indian organizations. There is a need for multi skill development.
HR trend in Information Technology Industry Level searches and hires by Indian companies. Many companies are searching for middle and entry-level talent. Indian companies are inheriting a large number of employees through global acquisition.
FINDINGS AND DISCUSSIONS According to industry estimates majority of demand for manpower would be in the area of IT – enabled services. The Indian IT services industry was expected to focus more on strengthening the middle management cadre. During the recovery period many companies have adopted various advanced technologies in their work like human analysis, human capital management, early warning systems and others. Salary trend also shows that along with abundant growth opportunities, IT sector is one of the highest paying sectors.
FINDINGS AND DISCUSSIONS(Contd.) Emerging concept of 4 R’s among HR Managers Recruiting Retaining Retraining Restructuring Signing bonus Retention bonus Job rotation Broad job description Finders fee Project pay Team Flexible compensation Alumni Reduce FTE Assignments Programs Connections Pay Skill inventories Flexible jobs Non-techs Telecommuting Competency Positive problem solving spirit Students Externs Development Interns Job sharing Certification
FINDINGS AND DISCUSSIONS(Contd.) No. of Engineering graduates and IT professionals hired600000500000400000 Engineering Graduates300000 IT Professionals Column1200000100000 0
FINDINGS AND DISCUSSIONS(Contd.) Pankaj Shankar, Global Head(HR),Infogain Corporation says, "Apart from talent acquisition and retention leadership development, aligning and integrating peoples performance with business goals and management of intellectual capital would also require attention of HR managers in the coming years.” IBM researchers have developed a skills planning model for optimal allocation of skills to minimize the impact of disaster at any one site. HCL Technologies oriented itself by focusing on communications to keep employees in-the-know and maintain transparency.
CONCLUSIONHuman resource management will be the key area of focus in 21stcentury as companies and government organization put in placestrategies to cope up with the economical crises and recovery.Human resource become one of the most essential ingredients ofsuccess in the knowledge era and a skilled-based economy.HR managers have to take care of many things in mind while dealingwith the number of people working in the organization.
CONCLUSION(CONTD..)Emerging HR trends of IT industry cannot be managed properly by theold traditional HR techniques.The IT industry has been devising newer personnel management/HRtechniques which specifically meet needs of IT industry.It can be concluded that Emerging HR trends of Indian IT industry arequite different from the old economy industry.HR managers in Indian IT industry must keep the sensitive nature of ITprofessionals and state of greater opportunites outside in mind fordevising HR policies for their organizations.