Prsntation on HR issues

8/7/2019 Prsntation on HR issues

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CHANGING TRENDS, CHALLENGES & ISSUHRM

CHALLENGES, ISSUES & CHANGING T



Introduction «««««««..HRM is a process of bringing people and organizations together sothe goals of each other are met.

As talent occupies centre stage in the workplace, managing and remanpower is becoming crucial to an organization·s success.

Over the recent years, significant changes have taken place in the economic, technological & political envt of business. HR professionals can·t ignore such changes. He has to evolve to ba strategic partner, an employee sponsor or advocate, and a change

mentor within the organization. He need to design & execute innovative mechanisms of developin& competencies of human resource.



Major challenges & issues includes«..

Challenges of globalization.It includesIntegration of economies

Global benchmarkingChange in the management styleFuture of public enterprises



Technological advancesIn the competitive world of today, industry cannot hope tosurvive for long with the old technology.Unemployment resulting from modernization will be solvedby properly assessing manpower needs & training ofredundant employees.This is a difficult process faced by the HR managers.



IT revolutionIt is about real-time access and sharing of digital informationIt is made possible by core information technologies like dignetworks, information databanks & computer graphics.

Work place of executive would be anywhere in the world & work envt may be named work station.Time & speed would be his watch words.



Challenge of quality revolutionAction Revolution which has been developed around customersatisfaction as the central focal theme.Forced organizations throughout the world to become consciouabout quality, productivity, pricing & consumer satisfaction.Products are now available that are far more superior than theearlier ones in terms of quality given the same or even lowerprice.

E.g. ¶Motorola·, implemented six-sigma to attain 99.99997%defect-free manufacturing.



Changes in politico-legal environmentGovernments participation in trade, commerce & industry wialso pose many challenges before private sector firms.Govt. may restrict the scope of private sector in the areas ofpublic interest.

Govt. has enacted various legislations to bring about anequilibrium b/w the capitalists & labour force.Many changes are taking place in the legal framework of IRsystem in the country.It would be a major challenge for the human resource executto fully examine the implications of these changes & bring abnecessary adjustments within the organizations.



Changes in workforce profile

Increase in education level. Change in skill level.

Wisdom worker. Age group and aspirations of workers.



Workforce diversityThe increasing heterogeneity of organizations is an importantchallenge for HR managers.Includes workers from different groups.

Employees don·t set aside their values, beliefs, lifestyles,preferences etc. when they come to work.

If it is managed properly, there would be better communication,human relations & congenial work culture in the organization.



Empowerment of employees In future, the proportion of professional & technical employees wincrease as compared to the blue collared employees.

They will seek greater degree of participation in goal setting & de

making & also demands greater avenues of self-fulfillment. So, the organizations will have to be redesigned or restructured toempower the employees for their autonomy or freedom to takedecisions while performing their jobs.

The techniques of empowerment range from participation decisionmaking to the use of self-managed teams.



Recent trends in HRM HR professionals can·t ignore these challenges, rather they have design and execute innovative mechanisms of developing skills &competencies.

Some of the recent trends that are being observed are as follows



Human resource outsourcingo A company may draw required personnel from outsourcing f

o Outsourcing firms develop their human resource pool by emp

people for them and make available personnel to various comp

as per their needs.

o The outsourcing firms or the intermediaries charge the

organizations for their services.

Trends in Recruitment



Poaching/raiding Means employing a competent and experienced person alreadyworking with another reputed company in the same or differentindustry.

Company can attract talent from another firm by offering attractpay packages and other terms and conditions.

E-recruitment E- recruitment is the use of technology to assist the recruitmentprocess.

use Internet as a source of recruitment.



Other trends««««

360-degree feedbackAlso known as "multi-rater feedback," "multisourcefeedback," or "multisource assessmentµ.

Is a feedback that comes from all around an employee.Feedback is provided by subordinates, peers, andsupervisors & external sources such as customers andsuppliers or other interested stakeholders.



Leadership DevelopmentCreating a pipeline of leadershiptalent is key to a business' futuregrowth.

Companies including HUL, P & Ghave been able to withstandattrition in key executives becausethey have always invested indeveloping leaders.



Work-life BalanceInstant Rewards

Recognizing and rewarding performers is one of the mosteffective tools to attract and retain the right talent.

include compensation in both cash and kind.

companies are also including work-life balance programmes;competency pay packages, and career opportunities.



Six-sigma practices.

Is a business management strategyInitially implemented by Motorola.Seeks to improve the quality of process outputs by identifying

and removing the causes of defects and variation inmanufacturing and business processes.It uses a set of quality management methods, includingstatistical methods and creates a special infrastructure of

people within the organization.



Exit policysurplus manpower is a major problem in many industrial unitE p refers to the policy regarding the retrenchment of the surpmanpower from restructuring of industrial units/ the workers

becoming unemployed by the closure of sick units.It covers the compensation for the employees who leave theorganization & the measures for their rehabilitation also.



Golden handshakeis a clause in an executive employment contract that providethe executive with a significant package in the case that theexecutive loses his or her job through firing. restructuring, oretirement,

This can be in the form of cash, equity, and other benefits.

National Renewal FundThe central govt. of India has established a National RenewaFund (NRF).Will benefit the worker affected by restructuring,modernization or closure of the unit.



Golden handcuffsare a system of financial incentives designed to keep anemployee from leaving the company.are a response by the companies in industries where it iscommon for highly compensated employees to frequently mofrom one firm to another.

Golden boot compensationis an inducement, using maximum incentives and financial

benefits, for an older worker to take "voluntary" earlyretirement.


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Prsntation on HR issues

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