EMERGING TRENDS EMERGING TRENDS AND ISSUES IN HRMAND ISSUES IN HRM

bybyV.KAUMUDI (118W1E0020)V.KAUMUDI (118W1E0020)

A.SANDEEPYA (118W1E0045)A.SANDEEPYA (118W1E0045)

V R SIDDHARTHA ENGINEERING V R SIDDHARTHA ENGINEERING COLLEGE, VIJAYAWADACOLLEGE, VIJAYAWADA

INTRODUCTIONINTRODUCTION

The real wealth of the nation lies in its people.The real wealth of the nation lies in its people. In the world of human resourceIn the world of human resource CHANGECHANGE is is

constant.constant. The HR management can negotiate the The HR management can negotiate the

competencies as per the emerging trends.competencies as per the emerging trends. All decisions that affect the workforce of the All decisions that affect the workforce of the

organization concern the HRM functionorganization concern the HRM function.. The activities involved in HRM function are The activities involved in HRM function are

pervasive throughout the organization.pervasive throughout the organization.

IMPORTANCEIMPORTANCE

HRM policy enmeshes itself fully with those of HRM policy enmeshes itself fully with those of organizational goalsorganizational goals..

The practice of HRM needs to be integrated The practice of HRM needs to be integrated with the overall strategy.with the overall strategy.

It ensures effective use of people and provides It ensures effective use of people and provides better returns to the organization.better returns to the organization.

CHANGING SCENARIOCHANGING SCENARIO

YESTER YEARS:YESTER YEARS:• The communication The communication

link between the employee link between the employee and management.and management.

• Planning employees Planning employees career, putting business career, putting business continuity plan, building continuity plan, building cultures, systems.cultures, systems.

AT PRESENTAT PRESENT• No more facilitating No more facilitating

appraisals & drawing up appraisals & drawing up increment sheets.increment sheets.

• Respected by the employees Respected by the employees for driving culture, learning for driving culture, learning and development.and development.

• By management to reach By management to reach their objective through their objective through committed employeescommitted employees..

HR DEPARTMENT

FUTURE SCENARIOFUTURE SCENARIO

HRM outsourcingHRM outsourcing: : A pressure for the A pressure for the standardization of the HRM practices.standardization of the HRM practices.

The talents are the best and the only The talents are the best and the only competitive advantage in the area of Human competitive advantage in the area of Human Capital and the processes & procedures are Capital and the processes & procedures are done by the organization.done by the organization.

As Globalization advances the organizations As Globalization advances the organizations need to adapt changes in Technology & need to adapt changes in Technology & changing issues in the management of people.changing issues in the management of people.

CONTINUED……….

CURRENT ISSUES EFFECTING CURRENT ISSUES EFFECTING ORGANIZATIONAL HR IN FUTURE:ORGANIZATIONAL HR IN FUTURE:

1.1. The corporations of tomorrowThe corporations of tomorrow

2.2. Information ageInformation age

3.3. DiversityDiversity

4.4. Social Responsibility Social Responsibility

CONTINUED…………….

CORPORATIONS OF TOMORROW:CORPORATIONS OF TOMORROW:

Future is a two fold effect:Future is a two fold effect: Generation of employmentGeneration of employment Industrial restructuringIndustrial restructuring

• A majority of people will be connected to the IT infrastructure.

•A learning culture will be festered by the technologies that serve, entertain and help people to do the work.

INFORMATION AGE:INFORMATION AGE:

• Information has heralded a new way of Information has heralded a new way of doing businessdoing business..

• IT has the powerIT has the power

to change the well-trenched business to change the well-trenched business paradigms.paradigms.

to link and connect people and enable the to link and connect people and enable the exchange of products, services and capital.exchange of products, services and capital.

SOCIAL RESPONSIBILITYSOCIAL RESPONSIBILITY

1.1. Acquisition of technologyAcquisition of technology

2.2. Adaptation of technologyAdaptation of technology

3.3. Utilization of technologyUtilization of technology

4.4. Improvement and development of technologyImprovement and development of technology

EMERGING TRENDS IN HRMEMERGING TRENDS IN HRMBALANCE SCORE CARDBALANCE SCORE CARD

A virtual representation of an organization’s A virtual representation of an organization’s strategy.strategy.

SIX SIGMA

A project driven management approach to improve the organization’s product, services & processes by continually reducing the DEFECTS in the organization.

Emerging concept of 4 R’s among HR managers:

Recruiting, Retaining, Retraining & Restructuring

IMPACT ON ORGANIZATIONS AND HRM:IMPACT ON ORGANIZATIONS AND HRM:Political:Political:• Increasing dispersal of national power & narrowing Increasing dispersal of national power & narrowing

of gaps between developed & developing nationsof gaps between developed & developing nations..

Economic:Economic:• Increasing gap between poor and rich Increasing gap between poor and rich

individuals & increase in state capitalismindividuals & increase in state capitalism

Social:Social:• Population growth, urbanization & increasing Population growth, urbanization & increasing

power of women.power of women.

Technological:Technological:• Digitization of work life and lifestylesDigitization of work life and lifestyles

EMERGING ISSUES IN HRMEMERGING ISSUES IN HRM1.1. Open communication with employeesOpen communication with employees2.2. Internal assessment : To communicate problems Internal assessment : To communicate problems

and issues with management team.and issues with management team.3.3. External assessment : Personal relationship with External assessment : Personal relationship with

other organizational members and employees.other organizational members and employees.4.4. Projections : Economic development, demographic Projections : Economic development, demographic

& tends of biological & physical resources are also & tends of biological & physical resources are also helpful to managers.helpful to managers.

5.5. Improved training & development programsImproved training & development programs6.6. Motivating through compensation & benefit Motivating through compensation & benefit

practices.practices.

CONCLUSIONCONCLUSION

New trends in the world of HR are New trends in the world of HR are emerging every now and then and emerging every now and then and it is extremely important for it is extremely important for anybody remotely associated with anybody remotely associated with the world of business to know the world of business to know about such contemporary about such contemporary emerging issues.emerging issues.

THANK YOU ALL!THANK YOU ALL!

HAVE A GREAT DAY!!HAVE A GREAT DAY!!