The 90’s was an era of Liberation, Privatization and Globalization (LPG model) in India, which aimed at making Indian economy one of the fastest-growing economies in the world. With constant reforms, policy changes and high FDI investment, 21st century India has become an apt place for business investment that has the potential to create a positive impact on the global economy as well.
Shrinking business borders and globalization have resulted in business, cultural and talent exchange among countries, which has caused severe alterations in HR functions worldwide. From handling macro issues including global workforce & virtual team management to micro issues such as employee counseling & personal consoling, the role of an HR professional has become ultra-diverse these days.
In this blog, let’s focus on the 4 challenges that an Indian Human Resource industry experiences in the 21st century while running their departments.
To complement the existing workforce or replace the lost staff, Recruitment of top-talent is a key challenge faced by the human resource department. Finding staff with the right blend of skills and self-driven personality is a major task in itself. Recruitment is carried out by the internal HR department or with third-party coordination, but the effective central management of the same also is important.
How to Hire Better?
A recruiter needs to record, parse and compare every minute detail of an applicant. However, with the help of HR pre-hire recruitment platforms, attracting top-talent and hiring them gets much easier. Real-time processing of CVs, faster candidate engagement, easy sorting are few benefits of using a recruitment software.
An added benefit of using such recruitment tools is cut down on future recruitment cost and time as the tool provides you’re a depository of active/passive candidates. Speeding the entire recruitment process and automating the same is the solution to hire smart and better.
Click Here to Read More on “Recruitment Trends for 2016”: http://goo.gl/C0Wtyc
Employees are the lifeline of a company and businesses invest significant time, plus money to ensure maximum productivity and interest of their workers. Another important responsibility of HR is to protect their pre-existing valuable asset – the employees.
How to Retain Employees?
Employee retention is a fine balance between company culture, employee engagement, remuneration, recognition and incentives. HR department needs to provide a balanced combination of all five to satisfy employees without compromising the company’s interests. Timely upgrading of employee retention policies is a must while facing fierce market competition.
Click Here to Read More on “Employee Retention Guide”: http://goo.gl/8TnqgL
Another major task that a human resource team performs is maintenance of ‘Optimum Productivity’ among workers. When productivity is low, HR needs to know the pain areas including poor working practices or lack of resources. Effective communication of pain areas to higher management and providing a real-time solution for employees is also important.
How to Enhance Productivity?
While most HRs acknowledge that their job entails establishing policies, procedures, people management programs, etc.; very few attempts to connect elements to increase employee output, engagement, retention and others. While implementing the right tool for productivity enhancement, it is important for HRs to incorporate three below listed elements within the organization.
- Technology to improve operations.
- Reviewing existing set-up.
- Implementing a constant improvement approach.
The strategic alliance of above-mentioned elements enables constant growth of an organization without necessarily expanding its size, expenditure or infrastructure.
Click Here to Read More on “Team Productivity”: http://goo.gl/hSC3Zu
- Talent Management
Another main function of HR team is to manage, govern and securing top talents. Talent management begins from onboarding right candidate followed by employee engagement and employee retention. A strategically formed talent management technique helps recruiters retain exceptional employees.
Strategies to Follow:
Talent management flows from the organization’s mission, vision, values and goals. When stated clearly and effectively, this enables every employee to vision their role and valuation within the organization.
- Hire best fit for your company and available position.
- Communicate ‘Terms of Service ’ clearly.
- Provide effective onboarding training and development opportunities.
- Provide on-going coaching, mentoring and feedback to engage your employees.
- Effective implementation of performance review and recognition system is vital.
Click Here to Read More about ‘Strategies for Better Talent Management’: http://goo.gl/gl4oYP
Post globalization and technological advancement, the world of HRM is changing rapidly. Constant environment changes have led to several issues in HR domain of India in regards to recruitment, engagement, HR technology, employee training, workforce management etc. Today, Indian HR community works in a compact, globalized ecosystem which needs a technology-driven, trust-worthy, faster and automated HR system. An automated system that allows HR to manage, analyze and govern centrally is what HR leaders seek today. A technologically-advanced HR system that can provide access to relevant candidate data, analytics and revenue information is likely to become the key to resolving such HR issues; a tool that HR need the most.
*Image Source: SHRM