hrm in the new millenium

HRM IN THE NEW MILLENIUM:

ANJALY LOHIDAKSHAN V HRM IN THE NEW MILLENIUM

WHAT IS HRM???:

WHAT IS HRM??? Human Resource Management (HRM) is the function within an organization that focuses on recruitment of, management of, and providing direction for the people who work in the organization. Human Resource Management is the organizational function that deals with issues related to people such as compensation, performance management, organization development, safety, wellness, benefits, employee motivation, communication, administration, and training.

Future of HRM:Influencing Factors:

Future of HRM:Influencing Factors Size of work force Composition of workforce Employee expectation Changes in technology Life style changes Environmental changes Personnel function in future Changes in 21 st century impacting HRM

Size of work force:

Size of work force The size of the workforce , consequently, has increased, throwing up additional challenges before HR managers in the form of additional demands for better pay, benefits and working conditions from various sections of the workforce constantly.

Composition of workforce:

Composition of workforce The shifting character of workforce in terms of age,sex,religion,caste, etc. is going to put pressures on HR managers trying to integrate the efforts of people from various places. Managing heterogeneous and culturally diverse groups is going to stretch the talents of HR managers fully.

Employee expectation:

Employee expectation Nowadays workers are better educated, more demanding and are ready to voice strong , violent and joint protests in case their expectations are not met. The list of financial and non- financial demands is ever growing and expanding.

Changes in technology :

Changes in technology Increased automation, modernization and computerisation have changed the way the traditional jobs are handled. In such scenario unless employees update their knowledge and skills constantly they cannot survive and grow. This will necessitate training, retraining and mid career training of operatives and executives at various level.

Life style changes :

Life style changes The life-style patterns of employees have undergone a rapid change in recent times. People are now ready to change jobs, shift to new locations, take up jobs in start-up companies instead of manufacturing units and even experiment with untested ideas.

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HR managers in India have not faced any additional challenges in the form of relocation efforts, job sharing and job hunting exercises etc. The situation, however, may change in the next couple of years especially in software, media, telecom sectors where the number of women employees is rising steadily. Flexible working hours, attractive compensation packages, job content and growth opportunities etc. may occupy the centre-stage in HR strategies of Indian managers in the days ahead.

Environmental changes:

Environmental changes Privatization efforts in India are likely to gather momentum in the coming years, as most public sector units face survival problems. Mounting costs, rising wage bills, increased competition, inefficient operations, outdated technology, debt burden etc. will compel many public sector units to either draw the shutters down or seek private sector partners. The burden if training and retraining employees with a view to make them more productive and useful under the new set-up is going to fall on the shoulders of HR managers.

Personnel function in future:

Personnel function in future Job redesign : The focus on job redesign will increase: Flexitime , job sharing and alternative work arrangements will come to occupy a centre-stage.

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Career opportunities : Apart from compensation, personal growth and self development may become primary motives for working. HR managers may have to restructure work so that employees may find expression of their needs for creativity, autonomy in their jobs.

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Productivity : “Productivity, efficiency, growth” are going to be the new mantras for corporate survival and growth.

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Recruitment and selection: Effective selection devices are likely to be used, giving premium to employee skills, knowledge, experience, ability to get along with people etc.

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Training and development : As technologies change rapidly, people need to update their skills continuously. A much broader range of abilities is required to keep pace with ever-present changes, forcing companies to spend increasing sums on training and development.

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Rewards : Rewards will be tied to performance. Benefits will accrue to those who show merit. Individually – designed packages recognizing talent may out-number group compensation plans. Carrot and stick policies may not find a place in the new corporate lexicon in the days ahead.

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Safety and welfare : Increasing investments may have to be made by companies to improve the work atmosphere, climate and job satisfaction levels of employees.

Changes in 21st century impacting HRM:

Changes in 21 st century impacting HRM Some of the current trends that would have a significant impact on the way HR practices would get transformed in future may be listed thus: HR as a spacing board for success : Executives with people management skills would be able to steal the show, since they help integrate corporate goals with employee expectations in a successful way. Senior HR executives would be able to smoothly move into top management positions, using their soft skills to good advantage.

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Talent hunting, developing and retaining: Clear focus areas: The 21st century corporation would be looking for people with cross-functional expertise strong academic background and team management skills. The new recruits are is expected to utilize the scarce resources judiciously and produce excellent results- in line with the expectations of internal as well as external groups. As companies realize the importance of human element in gaining a sustainable competitive advantage, there would be a mad scramble for 'talent'.

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Lean and mean organizations: Organizations will be forced to eliminate low-end job, say good-bye to older employees with limited skill-sets, out source work to specialized institutions in an attempt to save costs and remain highly competitive. As a result lay offs would occur and unemployment rates will go up; large outlays of cash may be required while buying out older employees and obtaining employee loyalty and commitment would be quite challenging in such a scenario.

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Labour relations ; Economic compulsions would make both the employers and employees r:alize the folly of pulling down shutters or going on strike, however genuine the cause might be. Governmental influence in labor-management relations would have only historical significance as employment-related issues begin to be dictated by market forces.

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Health care benefits : To attract talented workforce healthier work environments would be an absolute necessity. Employees would be obliged to give their employees safe, healthy and secure work environments. Wellness programmes also need to be designed to help employees identify potential health risks and deal with them before they become problems.

CONCLUSION:

CONCLUSION The Human Resources Approach, in direct recognises the worth of human being in the realisation of corporate goals. It takes a supportive and developmental route to achieve results through the cooperative efforts of employees. When opportunities for growth and enhancement of skills are available, people will be stimulated to give their best, leading to greater job satisfaction and organizational effectiveness.

KEY WORDS:

KEY WORDS HRM MANAGEMENT PRODUCTIVITY RECRUITEMENT SELECTION TRAINING

REFERENCE:

REFERENCE VSP Rao , Human Resource Management: Text and cases , (First edition), Excel Books, New Delhi-2000.