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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 to people 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 Management is 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.

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 organi ations, the HR professional may handle all of those z 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? HR s primary purpose is to ensure that the right people are working in the right places to accomplish the organization s 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

and it s a s t j too. The hard side is to empirically quantify Human Res urces is a hard j 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. It s 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 affect 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 projection 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 company s collective performance o nwards 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, it s 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 professionals 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 professionals 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 professionals identified the top five workplace issues: health care costs; HR technology; safety and security; demographic changes; and the changing nature of the HR profession itself. Rising health care costs constitute a major threat to national economic growth. A growing number 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 technologybased HR systems will be essential for HR professionals to participate in setting organizational strategy.Safety and security continues to be a major issue on the political agenda and has now emerged as a significant concern in the workplace. HR professionals 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 professionals 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 professionals to demonstrate leadership by implementing creative staffing policies such as phased retirement, job-sharing and retiree "recycling." HR professionals are acutely aware of the changes taking place within the profession itself. In its stra tegic 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 professionals 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. ii. iii. iv. v.

Humanresources.about.com Wikipedia.org Nicheconsulting.co.nz Ideas.gowerk.com Susan Meisinger "Challenges and opportunities for HR". HR Magazine. FindArticles.com.