Human Resource Management is the process of hiring and developing employees so that they become more valuable to the organization. Human Resource Management includes conducting job analyses, planning personnel needs, recruiting the right people for the job, orienting and training, managing wages and salaries, providing benefits and incentives, evaluating performance, resolving disputes, and communicating with all employees at all levels.
The world is moving very fast these days with technology and disruptions in geopolitical movements. The globalization of the world economy will be more insensitive and will affect the organizations, no mater how large or small, in both ...view middle of the document...
In order to play this role, however, HR will have to increase its real and perceived value.
In order to evaluate the future of Human Resource, it is necessary to examine the new mission, mandate, skills, capabilities, roles, and organizational structures that may emerge for the HR function in the future, given important new developments in technology, changing employee expectations, continued market volatility, and more. We can define some key changes in the profession of the future Human Resource activities as the following.
Balancing the global and the local
Global workforce imbalance will drive a new focus on talent acquisition. There’s an imbalance in the global workforce. It is believed that working across borders will highly increase and the international reporting lines as well as talent flows will become more common in the future. Expanding workforces in new markets – including the identification and hiring of talent across borders – shall become one of the biggest concerns for HR departments. The organizations will continue seeking key talents from all over the world in order to support their globalization strategies. For example while the U.S. and Western Europe continue to suffer from high unemployment and sluggish economies, emerging economies in China, Brazil, India, Singapore, Russia and Eastern Europe are exploding with growth. This will lead businesses to globalize at a frantic rate – hiring staff, building teams and developing products for these local economies
A flexible and virtual workforce
More focus will be put on a wider range of flexible work arrangements, which can reduce labor costs and allow greater access to talent. The businesses will increase the use of virtual workspaces and reduce their reliance on physical office premises, shifting to hot-desking. The businesses will hire more contractual or temporary workers and even use former employees as contractors. There will be more contingent workers, remote workers, temporary workers and part-time workers – the growing array of employee types.
Reconfiguring the global talent map
As the globalization mandate continues to pick up speed, HR must transform itself by adopting new talent-sourcing strategies and innovative management practices. The complexities of today’s global business environment are making it difficult for companies to find the right talent. In order to thrive in this challenging environment, companies must realign their workforce and leadership with their global footprint. They must learn how to operate in global virtual teams comprising people who have a deep understanding of cultural nuances, global awareness, and...