Human Resource Management, Challenges in HRM, Issues in HRM, Trends in HRM, Human Resource

1. CHANGING TRENDS, CHALLENGES & ISSUES IN HRM CHALLENGES, ISSUES & CHANGING TRENDS IN HRM

4. Global benchmarking

5. Change in the management style

7. In the competitive world of today, industry cannot hope to survive for long with the old technology.

8. Unemployment resulting from modernization will be solved by properly assessing manpower needs & training of redundant employees.

10. It is about real-time access and sharing of digital information.

11. It is made possible by core information technologies like digital networks, information databanks & computer graphics.

12. Work place of executive would be anywhere in the world & his work envt may be named work station.

14. Action Revolution which has been developed around customer satisfaction as the central focal theme.

15. Forced organizations throughout the world to become conscious about quality, productivity, pricing & consumer satisfaction.

16. Products are now available that are far more superior than the earlier ones in terms of quality given the same or even lower price.

18. Govt. may restrict the scope of private sector in the areas of public interest.

19. Govt. has enacted various legislations to bring about an equilibrium b/w the capitalists & labour force.

20. Many changes are taking place in the legal framework of IR system in the country.

23. Includes workers from different groups.

24. Employees don’t set aside their values, beliefs, lifestyles, preferences etc. when they come to work.If it is managed properly, there would be better communication, human relations & congenial work culture in the organization.

25. Empowerment of employees In future, the proportion of professional & technical employees will increase as compared to the blue collared employees. They will seek greater degree of participation in goal setting & decision making & also demands greater avenues of self-fulfillment. So, the organizations will have to be redesigned or restructured to empower the employees for their autonomy or freedom to take decisions while performing their jobs. The techniques of empowerment range from participation decision making to the use of self-managed teams.

26. Recent trends in HRM HR professionals can’t ignore these challenges, rather they have to design and execute innovative mechanisms of developing skills & competencies. Some of the recent trends that are being observed are as follows:

28. A company may draw required personnel from outsourcing firms.

29. Outsourcing firms develop their human resource pool by employing people for them and make available personnel to various companies as per their needs.

32. Also known as "multi-rater feedback," "multisource feedback," or "multisource assessment”.

33. Is a feedback that comes from all around an employee.

35. Creating a pipeline of leadership talent is key to a business' future growth.

37. Instant RewardsRecognizing and rewarding performers is one of the most effective tools to attract and retain the right talent. include compensation in both cash and kind. companies are also including work-life balance programmes; competency pay packages, and career opportunities.

39. Initially implemented by Motorola.

40. Seeks to improve the quality of process outputs by identifying and removing the causes of defects and variation in manufacturing and business processes.

42. E p refers to the policy regarding the retrenchment of the surplus manpower from restructuring of industrial units/ the workers becoming unemployed by the closure of sick units.

44. This can be in the form of cash, equity, and other benefits.

45. National Renewal Fund

46. The central govt. of India has established a National Renewal Fund (NRF).

48. are a response by the companies in industries where it is common for highly compensated employees to frequently move from one firm to another.

49. Golden boot compensation