Leadership, by contrast, is about coping about change. Part of the reason it has become so important in recent years is that the business world has become more competitive and more volatile. Faster technological change, greater international competition, the deregulation of the markets, and overcapacity in capital-intensive industries……. and the changing demographics of the workforce among the many factor that contributed to this shift. More changes are more and more necessary to survive and compete effectively in this new environment.
Pay careful attention to putting employees first in every aspect of the increasing and changing processes which may take place. Even in the initial planning phases it is important to look out for the full needs of the employees. Identifying opportunities for growth and seizing new ventures is a core component in successfully creating a business strategy which caters for the ever increasing demands for constant change. Strive to seek sustainable competitive advantage in a world which is changing in ways that may not be expected. A successful business strategy is a process which demands insight, consistency and accountability.
Competition for talent as labor markets improve, demographic changes that include the aging workforce that is bringing different generations working together, and the constant evolving of new technologies are just a few examples of the complex environment all HR professionals must navigate through in order to design positive strategic responses for the success of the company. HR professionals are expected to make the best selection in human capital and develop prospective leaders of the company who are equipped to take on leadership roles of the future so that the company stays viable in the long term. To meet and even exceed these challenges, human resource management must not only look at the education, experience, and expertise in the required skills for a position in the company, but to a trait and skill unable to be listed on their resume, emotional and gender intelligence. Unlike IQ that is stable throughout life, this intelligence can be learned at any point in your life and improved over time. IQ and skills are now considered entry level, and this new model of skill set with emotional and gender intelligence being what will distinguish the mediocre form the standouts.
This was when the concepts of "Strategic HR" started emerging. There was a combined realization of the fact that HR has larger roles to play beyond just recruiting the right people; training them, helping the business design job roles, aligning organization structures (organization design), developing "total compensation" packages which include benefits, stock options and bonuses, and serving as a central point of communication for employee health and happiness. This is how a gradual change was observed, when the "Head of Personnel" became the "VP of HR" and had a much more important role in business strategy and execution. During this period, the systems which were built up to support this new role included recruiting and applicant tracking (ATS), portals, total compensation systems, and learning management systems. Thereby the HR department now became more than a business function: it became a business partner, reaching out to support lines of
HUMAN RESOURCE MANAGEMENT: In the recent time Human Resource Management plays a significant role in any organization. As the global competition has increased much with the passage of time HR role has also increased. The HR managers have to keep up with issues that might affect economy, labor market, political environment, organizations psychology, social trend in the world and the most important; rapid development of technology. The main function of HRM is to manage individuals job who serve the organizations and to do recruitment and selection of the desirable and most fitted person. It also has to deal with other functions i.e.
A rapid increase of start-up businesses in the modern day has resulted in a rise of market competitiveness. Furthermore, because these customers determine a corporation’s success or failure, the relationship between a customer and an organisation is extremely vital. Katz’s Theory on managerial skills stresses that human skills are necessary for most leadership roles (Katz, 1974). This skill is much needed by managers in this day and age in an effort to combat the changes and challenges caused by customers. This
Modern companies have already realized that the environment has changed and they are continuously faced with more challenges, more flexibilities, more demands that is why, companies are utilizing organization development as a means of aligning with the challenging workforce and needs of the customers. Some of the trends would include: the increasingly complex environment and employee empowerment. The complexity of the workplaces today are brought about by the advancements in technology and the “borderless” environment. As a result, employees must be trained and refreshed regarding their jobs and update the skills and abilities they currently possess in order for them to be flexible and highly-adaptable should there be organization development activities to be planned out. They must also be culturally-competent, which could be achieved when employees are familiar with a couple of new languages and the cultures before immersing themselves to a foreign-based branch of the company.
The global workplace is experiencing changes all the time whereby, in the past, workers went to their jobs to do the work. However, the workplace is changing into a place where those who work also learn as organizations transform themselves into learning organizations. Massive resources have been employed by firms in order to make education and fresh skills available for workers. The emerging new economy is driven by technology. Right now, many firms are rethinking the way in which they undertake business as a way to improve productivity and the quality of their products but also to stay competitive within the changing and unforgiving environment.
Introduction Human Resource Management (HRM) refers to the management of people in an organization. It involves the integration of Human Resource policies, activities and systems that focus on managing employees in an effective and efficient manner to achieve organization’s goal and success (Byars and Rue, 2006). The purpose of this report is to analyze the importance of HRM in sustaining competitiveness and contributing to the success of the organization. Subsequently, discuss on the main challenge of HRM in today’s rapid changing business environment. Last but not least, suggest and evaluate recommendations to overcome the challenge faced by HRM.
1.0 Introduction Employee retention has turn out to be a most important concern for corporate in the current scenario. Individuals once being trained have a propensity to move to other organizations for enhanced prospects. Comfortable timings, better ambience, lucrative salary, enlargement prospects are some of the factors which prompt an employee to look for a revolutionize. Whenever a talented employee expresses his eagerness to move on, it is the responsibility of the management and the human resource team to intervene immediately and find out the exact reasons leading to the decision. Within a work environment where the war for talent is making it tough to find qualified workers and key skills are estimated to become even scarcer, the