Challenges Of Hrm Essay
India was declared itself open to Liberalization; this paved influence in business and has been constantly rising since the Industrial Revolution and this meant a change in the working style in the organizations and among the human resource (from a physical effort to an intellectual effort). This leads organization to innovate new practice to ensure survival in an increasingly hypercompetitive environment.
Thus organization innovated and influenced a concept called Human Resource Management (HRM), by this organization competitive advantage can be generated only through human resource (HR) and also organizations performance by a set of effective HRM practices.
Hence, the need of organizations for Human and Human for organizations will be more difficult to satisfy in the today’s competitive business environment.
“The twentieth century was the age of machine; the twenty-first century will be the age of people”
Therefore, in today’s scenario, HR is not treated as a single function, it is a collective ability and capabilities with distinct objectives, tasks, and needs with a support of strategic goals that focuses on adding value activities.
The key challenges of any HR department are employee acquisition, retention, developing employees, performance management,
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There have been several developments in the Human Resource Management department that have eventually evolved over the years (Paauwe, Nov 2001) (Harvey, Dec 2001). Because of rapid industrialization, liberalization, privatization, and globalization, the need for trained and skilled manpower becomes crucial. Companies have started recognizing the importance of the HRM Department and are aligning the various HR function to the strategic business goals and to strategic objectives (Srimannarayana, Oct - Dec
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