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Hrm In The Business Environment

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Definition and Introduction Human Resource Management (HRM) deals with issues having concerns with people that include recruitment, compensation, wellness benefits, organization development, training, motivation, communication, administration, performance management. HRM currently plays a key role in developing a strategic and comprehensive approach to managing environmental and workplace culture to achieve overall objectives of the organization. In short, HRM adds the value of the human asset of the company without which the company cannot progress. The paper aims at discussing leadership development as one of the major challenges that HRM faces in the current times.
Importance of HRM in Today’s Business Environment

Todays' …show more content…

It will be more appropriate, at this juncture, to quote Peter Drucker before describing how HRM can play a pivotal role in solving the leadership development issue. “It (leadership) is not ‘making friends and influencing people’ – that is flattery. Leadership is lifting a person’s vision to higher sights, the raising of a person’s performance to a higher standard, the building of a personality beyond its normal limitations" (Drucker, 1986 p159). Drucker has succinctly described leadership requirements in the above sentences; however, it is crucial to explore why leadership development has become so important in the current times. In the wake of globalization, the business environment has changed drastically. It is chaotic, complex and challenging. In the last decade or so, changes have happened so rapidly that the future has become unpredictable. Challenges are so complicated that there are no straight solutions to the problems involved. The world has become increasingly seamless and resources move quickly across the globe. Even small changes lead to large effects in any organization. Solutions need to emerge from within as they cannot come from outside. That is where leadership development …show more content…

Recommendations to Overcoming Future Leadership Development Challenges While the current leadership development methods with HRM are training, executive coaching, action learning, mentoring, feedback, they are likely to be insufficient in the current circumstances. These methods were certainly effective to meet the challenges of the last century; however, these programs now provide diminishing returns in the changed circumstances. McGuire and Rhodes (2009) emphasize that organizations need to develop the leadership culture while developing individual leaders.
According to them, in future, HR will address leadership development issues through a vertical leadership development process that consists of three stages.
a. Awakening: It is to make person aware that things can be done in a different way.
b. Unlearning and Discerning: The old ways are frequently analyzed and challenged. New ways are experimented in day-to-day work and life to explore new

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