hrm today and tomorrow

8/6/2019 HRM Today and Tomorrow

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ASSIGNMENT I

Human Resource Management

Today and Tomorrow

INTRODUCTION

uman 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 topeople such as compensation, hiring, performance management, organization development,

safety, wellness, benefits, employee motivation, communication, administration, and training.

Human Resource Management is also a strategic and comprehensive approach to managing

people and the workplace culture and environment. Effective HRM enables employees to

contribute effectively and productively to the overall company direction and the accomplishment

of the organization's goals and objectives.

Human Resource Managementis the management of an organization's employees. While human

resource management is sometimes refereed to as a "soft" management skill, effective practice

within an organisation requires a strategic focus to ensure that people resources can facilitate

the achievement of organisational goals. Effective human resource management also contains an

element of risk management for an organisation which, as a minimum, ensures legislative

compliance.

H



HUMAN RESOURCES

Human Resources (HR) can include a broad spectrum of specialties within organizations. Some

examples of specialties include recruiting, payroll, policy, safety, training and development, and

performance management. In smaller organizations, the HR professional may handle all of those

specialties and in larger organizations, each specialty is most likely its own department.

The roles within HR can vary greatly as well as with many departments from the purely

administrative to the executive. Another related and perhaps more important question that is

often discussed is, what should HR be doing?HRs primary purpose is to ensure that the right

people are working in the right places to accomplish the organizations goal.

In other words, HR is responsible to develop programs that will attract, select, develop, and

retain the talent needed to meet the organizational mission. So whether there is an HR

department of one or a combination of multiple departments that include hundreds of

employees, the primary responsibility is talent management.

Holistic Model of Human Resource Management Practices

Source: Niche Consulting Limited (2009). Retrieved from http://www.nicheconsulting.co.nz/hrm_recruitment/hrconsulting.htm



Top

R Issues and Trends of Today and Tomorrow

Human Res ¡ urces is a hard j ¡ ¢ £ and its a s ¡ ¤ t j ¡ ¢ too. The hard side is to empirically quantif y levels of performance

£

uncovering opportunity and collecting/selecting a talent supply. The soft

side is building integrity and trust with employees£

and advocating the long term benefits of

investing in employees. Its a tough job.

According to a study by the World Federation of Personnel Management Associations (WFPMA),

and an insightful article on Bloomberg Businesswee¥

- HR: the big issues identifies 3 of the top

global HR issues that aff ect businesses today are Managing Talent, Improving Leadership

Development, and managing Demographics. A more forward looking perspective by Aon Hewitt

identifies 4 trends to define the future of HR: Predictive Analysis, Steady talent supply, Driving

Performance, Building Integrity and Trust.

Managing Tal ¦ nt

Companies see trends moving more and more towards global talent sourcing, from 20% tod ay to

50% in the ne§ t 3 years. Managing that will be costly with yesterdays technology but

streamlined and cost beneficial with todays SaaS solutions. This bolsters the other issues like

managing career tracks and compensation plans which rides high on the lis t of talent

management issues.

Leadership Develop ̈

ent

In todays market, 25% of companies are using incentives to build their leadership programs

while there is a pro jection that 66% of companies will be concerning themselves with talent

retention and leadership development through benefits and incentives. Fluently managing this,

employing diverse recruiting techniques and tying key performance indicators through metrics

mining will become very influential in steering a companys collective performance onwards and

upwards.

Managing Demographi © s

Two issues crept up into the study under demographics: one was managing the aging employees

into retirement and replacing them with younger talent; two was to address the younger

employee needs particularly in regards to retention and loyalty. In managing employees, old and

young, its likely that HR will need to shift efforts in becoming an organizational steward to build

the bonds of trust and build the case for long term investing in employees. In essence, HR m ay

find themselves being much more creative by building an internal corporate brand.



Challenges and Opportunities for

R

In today s rapidly changing world, it's difficult to predict what might happen ne t year, let alone several years in the future.But HR prof essionals can't wait for change to occur. HR leaders must

anticipate new developments, embrace them and develop the strategies necessary for their

organizations to succeed.

That's why the Society for Human Resource Management (SHRM) conducts a biennial survey of

HR prof essionals and collects their views on the issues that will have the greatest impact on the

workplace in the ne

t decade. In the most recent Workplace Forecast (www.shrm.org/trends),

HR prof essionals identified the top five workplace issues: health care costs; HR technology;

saf ety and security; demographic changes; and the changing nature of the HR prof ession itself.

Rising health care costs constitute a ma jor threat to national economic growth. A growingnumber of business leaders cite high health care costs as the chief obstacle to hiring new

workers. If the upward spiral continues, the result will be higher business costs, undercutting U.S.

competitiveness in the global marketplace. Securing employee access to health care while

controlling costs is one of HR's prime responsibilities.

While HR technology does not appear to be well -established in many organizations (see SHRM's

2005 HR Technology Survey Report), there i s broad agreement that competency in technology-

based HR systems will be essential for HR prof essionals to participate in setting organizational

strategy.Saf ety and security continues to be a ma jor issue on the political agenda and has now

emerged as a significant concern in the workplace. HR prof essionals bear the responsibility of

ensuring that their organization's employees are protected. While creating new privacy concerns

for employees, technology may hold the key to many security solutions --another reason for HR

prof essionals to gain technological competency.

Demographic changes--particularly the aging of the workforce--present significant challenges as

organizations prepare for the ne t wave of retirement. These circumstances provide

opportunities for HR prof essionals to demonstrate leadership by implementing creative staffing

policies such as phased retirement, job-sharing and retiree "recycling." HR prof essionals are

acutely aware of the changes taking place within the prof ession itself. In its strategic leadership

role, HR must deal with more comple ity in its areas of responsibility and must find ways to

measure the value of human capital and demonstrate its return on investment.

To drive organizational success, HR prof essionals must understand the implications of these

trends not only for HR, but also for their organization as a whole. HR leaders will find

opportunities in these developments and must put programs and practices in place today to

meet the challenges of tomorrow.



Conclu ion

Human Resource Management is moving away from traditional personnel, administration, and

transactional roles, which are increasingly outsourced. HRM is now expected toadd value to the

strategic utilization of employees and that employee programs impact the business in

measurable ways. The new role of HRM involves strategic direction and HRM metrics and

measurements to demonstrate value.

Bibliogr

p

i. Humanresources.about.com

ii. Wikipedia.org

iii. Nicheconsulting.co.nziv. Ideas.gowerk.com

v. Susan Meisinger "Challenges and opportunities for HR". HR Magazine. FindArticles.com.

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