HR managers face constant challenges due to rapid environmental changes. Some of the key challenges include reworking the company's mission and vision to align with strategic goals, adapting to the information and knowledge age where ideas are the most important resource, managing a globalized workforce with diverse laws and cultures, attracting and retaining top talent by creating an employer brand, adapting to changed employee expectations for empowerment beyond just compensation, enhancing supplementary services to support employee well-being and reduce stress, managing diversity to leverage diverse talents, handling corporate reorganizations smoothly, and ensuring all employee contributions are ethical and benefit society.
This ppt includes Management Thinker and Human Resource Management . Also it covers business studies and management . Related to need hierarchy theory and ERG Theory .
IMPACT OF PERFORMANCE MANAGEMENT ON SUCCESSION PLANNINGindexPub
Motivation: HR in an organization faces various challenges in business environment, such as Building Capabilities, Improving Productivity, Building Performance Culture, Talent Management, Succession Planning for Key Leadership and Critical Roles, Developing Accountability and Ownership, Human Capital Management and transforming HR function into developmental Role from the legacy driven HR, etc. Succession Planning is the process of identifying and developing individuals, who have potential to hold the key leadership position in an Organization, whereas Performance Management includes assessing and improving upon the performance of an employee to meet the organizational goals. There are several Management Practices, which are adopted widely in Industry to make a successful Succession Planning. Workforce and Talent Management is one of them. The health of an organization majorly depends on the proper placement of people, which is a combined outcome of Talent Identification, Talent Development and Talent Retention. Performance Management plays a vital role in Talent Identification. It also has an impact on Talent Development and Talent Retention. The key idea of succession planning suggests that the right person to be placed at the right position at the right time. Succession planning is becoming a challenge these days in the corporate world. Organizations are often not found prepared with their successors to occupy the key positions as and when required. The positions are either kept vacant for a substantial period or more than one role is assigned to a single person. Identifying the right talent for the key positions from outside the organization and recruiting them is a much more difficult task at the eleventh hour. This has a significant impact on organizational health and in turn to organizational sustainability. Organizations must last longer than people. Role of organization continues even when the people move out. Employees must superannuate after attaining a certain age. Also, organizations must have a contingency plan for sudden vacancy arises out of attrition, health hazards and death of employee. Succession planning is the strategy to ensure that a suitable person is made available during exigencies. Employees are developed for taking on higher responsibilities and for the new roles that may emerge in future. The placement of Key Leadership positions can be executed either by inviting the talent from outside or developing the talent in-house. The latter is always in demand keeping in view the core values of the organization and the impact on loyalty and organizational culture in a long run. It is preferable to develop the in-house talent pool to reduce dependency on recruitment of experienced people from outside for the critical roles. It brings the talent acquisition cost low and contributes as a motivating factor for the team as well. The acceptability of a person placed at Top / Key Leadership Positions is high when these are occupied
This ppt includes Management Thinker and Human Resource Management . Also it covers business studies and management . Related to need hierarchy theory and ERG Theory .
IMPACT OF PERFORMANCE MANAGEMENT ON SUCCESSION PLANNINGindexPub
Motivation: HR in an organization faces various challenges in business environment, such as Building Capabilities, Improving Productivity, Building Performance Culture, Talent Management, Succession Planning for Key Leadership and Critical Roles, Developing Accountability and Ownership, Human Capital Management and transforming HR function into developmental Role from the legacy driven HR, etc. Succession Planning is the process of identifying and developing individuals, who have potential to hold the key leadership position in an Organization, whereas Performance Management includes assessing and improving upon the performance of an employee to meet the organizational goals. There are several Management Practices, which are adopted widely in Industry to make a successful Succession Planning. Workforce and Talent Management is one of them. The health of an organization majorly depends on the proper placement of people, which is a combined outcome of Talent Identification, Talent Development and Talent Retention. Performance Management plays a vital role in Talent Identification. It also has an impact on Talent Development and Talent Retention. The key idea of succession planning suggests that the right person to be placed at the right position at the right time. Succession planning is becoming a challenge these days in the corporate world. Organizations are often not found prepared with their successors to occupy the key positions as and when required. The positions are either kept vacant for a substantial period or more than one role is assigned to a single person. Identifying the right talent for the key positions from outside the organization and recruiting them is a much more difficult task at the eleventh hour. This has a significant impact on organizational health and in turn to organizational sustainability. Organizations must last longer than people. Role of organization continues even when the people move out. Employees must superannuate after attaining a certain age. Also, organizations must have a contingency plan for sudden vacancy arises out of attrition, health hazards and death of employee. Succession planning is the strategy to ensure that a suitable person is made available during exigencies. Employees are developed for taking on higher responsibilities and for the new roles that may emerge in future. The placement of Key Leadership positions can be executed either by inviting the talent from outside or developing the talent in-house. The latter is always in demand keeping in view the core values of the organization and the impact on loyalty and organizational culture in a long run. It is preferable to develop the in-house talent pool to reduce dependency on recruitment of experienced people from outside for the critical roles. It brings the talent acquisition cost low and contributes as a motivating factor for the team as well. The acceptability of a person placed at Top / Key Leadership Positions is high when these are occupied
HUMAN RESOURCES MANAGEMENT - unit 1(Perspectives of HRM)asiabegum5
Detail Information on Perspective of HRM
Definition of HRM, Definition of management, Nature & Scope, Objectives of HRM, HRM Model, HR Roles, HR Policy, Importance of HRM, Need Of HRM, Function of HRM, Evolution of HRM, Challenges of HRM, New Trends of HRM, HR Audit and Accounting -Process and Definition.
To successfully manage human resources, individuals need personal credibility, business knowledge, understanding of the business strategy, technology knowledge, and the ability to deliver HR services.
Human resource management practices should be evidence- based, that is, based on data showing the relationship between the practice and business outcomes related to key company stakeholders (customers, shareholders, employees, community). In addition to contributing to a company’s business strategy, human resource practices are important for helping companies deal with sustainability, globalization, and technology challenges. Global challenges include entering international markets, immigration, and offshoring. Technology challenges include using new technologies to support flexible and virtual work arrangements, high-performance work systems, and developing effective e-HRM practices and human resource information systems.
Effective Human Capital Management Strategies To Maximize Success | Enterpris...Enterprise Wired
Effective Human Capital Management strategies not only attract top talent but also nurture and retain them, ultimately contributing to organizational growth and sustainability.
This blog talks about ten frequently asked questions about reinventing the HR department in the 21st century to thrive in the modern business landscape.
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HUMAN RESOURCES MANAGEMENT - unit 1(Perspectives of HRM)asiabegum5
Detail Information on Perspective of HRM
Definition of HRM, Definition of management, Nature & Scope, Objectives of HRM, HRM Model, HR Roles, HR Policy, Importance of HRM, Need Of HRM, Function of HRM, Evolution of HRM, Challenges of HRM, New Trends of HRM, HR Audit and Accounting -Process and Definition.
To successfully manage human resources, individuals need personal credibility, business knowledge, understanding of the business strategy, technology knowledge, and the ability to deliver HR services.
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Effective Human Capital Management Strategies To Maximize Success | Enterpris...Enterprise Wired
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2. The world of HRM is changing more rapidly than we can imagine.
Constant environmental changes means that HR managers face constant
challenges. They must respond by taking advantage of gradual yet
reflective changes in the nature of the field, current practices, and
overall human resources management policies, mission and vision.
Challenges ahead:
1.Rework the mission and vision of the company
2.Information and knowledge age
3.Globalization
4.Attracting and Retaining Talent
5.Changed employees’ expectation
6.Enhancing the supplementary services
7.Managing Workplace Diversity
8.Corporate Re-organizations
9.Contribution to the success of organizations
3. 1.Rework the mission and vision of the company
HRM is becoming increasingly involved with strategic planning and
the development of means by which people can work proactively
toward the achievement of organizational objectives. This means a
broader perspective focused on objectives and results. It implies
personal commitment by each worker to the company’s goals. The
need for this personal commitment means that employee education,
communication, and involvement now become fundamental. This
being the case, companies develop and emphasize an HRM
philosophy to which top management is deeply commitment, which
is clearly articulated and practiced by all employees.
4. 2.Information and knowledge age
Information and knowledge have replaced manufacturing as the
source of most new jobs. Work performed in factories by machines
is being replaced by work in offices or at computer terminals. And
instead of working with things, people increasingly work with ideas
and concepts. The information age made knowledge the most
important organizational resource. The traditional factors of
production- nature, capital, and labour- have already exhausted
their contributions. Now the important activities are the
generation, structure, development, spreading, sharing and
application of knowledge; belongs to the people, the human
capital, successful companies are becoming learning organizations.
5. 3.Globalization
Growing internationalization of business has its impact on HRM in
terms of problems of unfamiliar laws, languages, practices,
competition, attitudes, management styles, work ethics, and more,
HR managers have a challenges to deal with more functions, more
heterogeneous functions and more involvement in employee’s
personal life.
6. 4.Attracting and Retaining Talent
One of the greatest challenges of human resource management
today is to create HR capabilities that increase and sustain
organizational performance. The ability to attract and retain talent
is a core HR capability that is critical to achieving sustainable
business performance. Retaining the employees has become more
crucial. One can retain the employees in current situation only
when a company creates a good employer brand, internally and
externally, by ensuring that people have good jobs which make
them feel proud of working for the organization.
7. 5.Changed employee expectation
With the changes in workforce demographics, employee
expectations and attitudes have also transformed. Traditional
allurements like job security, house, and remunerations are not
much attractive today, rather employees are demanding
empowerment and equality with management. Hence it is a
challenges for HRM to redesign the profile of workers, and discover
new methods of hiring, training, remuneration and motivating
employees.
8. 6.Enchaning the supplementary services
In today’s competitive world the workforce are heavily loaded with
work and stress associated with it i.e. mental stress as well as
physical stress. To have a sound body and sound mind it is necessary
to develop certain competencies to survive with the stressful
situations. The growth of an supplementary industry like computer
training institutes, manpower consultants, ‘soft skills’ and ‘cultural
training’ consultants, psychological counsellors, spiritual guides,
stress and time management trainers, gyms, recreational facilities
and health-related services etc.
9. 7. Managing Workforce Diversity
The future success of any organizations relies on the ability to
manage a diverse body of talent that can bring innovative ideas,
perspectives and views to their work. The challenge and problems
faced of workplace diversity can be turned into a strategic
organizational asset if an organization is able to capitalize on this
melting pot of diverse talents.
10. 8.Corporate Re-Organizations
Reorganization relates to mergers and acquisitions, joint ventures,
take over, internal restructuring of organizations. It is a challenge to
manage employees’ anxiety, uncertainties, insecurity and fears
during these dynamic trends.
11. 9.Contribution to the success of an
organizations
The biggest challenge to an HR manager is to make all employees
contribution to the success of the organization in an ethical and
socially responsible way. Because society’s well-being to a large
extent depends on its organizations.
