EMERGING TRENDS AND ISSUES IN HRM by V.KAUMUDI (118W1E0020) A.SANDEEPYA (118W1E0045)V R SIDDHARTHA ENGINEERING COLLEGE, VIJAYAWADA
INTRODUCTION The real wealth of the nation lies in its people. In the world of human resource CHANGE is constant. The HR management can negotiate the competencies as per the emerging trends. All decisions that affect the workforce of the organization concern the HRM function. The activities involved in HRM function are pervasive throughout the organization.
IMPORTANCE HRM policy enmeshes itself fully with those of organizational goals. The practice of HRM needs to be integrated with the overall strategy. It ensures effective use of people and provides better returns to the organization.
CHANGING SCENARIO HR DEPARTMENT YESTER YEARS: AT PRESENT• The communication • No more facilitating link between the employee appraisals & drawing up and management. increment sheets.• Planning employees • Respected by the employees career, putting business for driving culture, learning continuity plan, building and development. cultures, systems. • By management to reach their objective through committed employees.
FUTURE SCENARIO HRM outsourcing: A pressure for the standardization of the HRM practices. The talents are the best and the only competitive advantage in the area of Human Capital and the processes & procedures are done by the organization. As Globalization advances the organizations need to adapt changes in Technology & changing issues in the management of people. CONTINUED……….
CURRENT ISSUES EFFECTING ORGANIZATIONAL HR IN FUTURE:1. The corporations of tomorrow2. Information age3. Diversity4. Social Responsibility CONTINUED…………….
CORPORATIONS OF TOMORROW:Future is a two fold effect: Generation of employment Industrial restructuring •A majority of people will be connected to the IT infrastructure.•A learning culture will be festered by the technologies that serve, entertain and help people to do the work.
INFORMATION AGE:• Information has heralded a new way of doing business.• IT has the power to change the well-trenched business paradigms. to link and connect people and enable the exchange of products, services and capital.
SOCIAL RESPONSIBILITY1. Acquisition of technology2. Adaptation of technology3. Utilization of technology4. Improvement and development of technology
EMERGING TRENDS IN HRM BALANCE SCORE CARD A virtual representation of an organization’s strategy. SIX SIGMAA project driven management approach toimprove the organization’s product, services& processes by continually reducing theDEFECTS in the organization. Emerging concept of 4 R’s among HR managers:Recruiting, Retaining, Retraining & Restructuring
IMPACT ON ORGANIZATIONS AND HRM:Political:• Increasing dispersal of national power & narrowing of gaps between developed & developing nations.Economic:• Increasing gap between poor and rich individuals & increase in state capitalismSocial:• Population growth, urbanization & increasing power of women.Technological:• Digitization of work life and lifestyles
EMERGING ISSUES IN HRM1. Open communication with employees2. Internal assessment : To communicate problems and issues with management team.3. External assessment : Personal relationship with other organizational members and employees.4. Projections : Economic development, demographic & tends of biological & physical resources are also helpful to managers.5. Improved training & development programs6. Motivating through compensation & benefit practices.
CONCLUSIONNew trends in the world of HRare emerging every now andthen and it is extremelyimportant for anybody remotelyassociated with the world ofbusiness to know about suchcontemporary emerging issues.