How Various Factors Are Influencing The Field of Human Resource Management and Shaping The Roles and Responsibilities of Human Resource Managers
How Various Factors Are Influencing The Field of Human Resource Management and Shaping The Roles and Responsibilities of Human Resource Managers
1. **Globalization**: The increasing interconnectedness of the world's economies and markets is leading
to more competition among businesses. This heightened competition puts pressure on companies to
reduce costs and enhance the productivity and quality awareness of their employees.
3. **Knowledge Work and Human Capital**: The focus of work is shifting towards "knowledge work,"
which involves tasks that require a high level of intellectual expertise. As a result, there is an increasing
emphasis on building "human capital," which refers to the collective knowledge, education, training,
skills, and expertise possessed by a company's employees. Human resource managers play a role in
nurturing and leveraging this human capital for the organization's benefit.
4. **Workforce and Demographic Changes**: The composition of the workforce is undergoing changes.
The workforce is becoming older and more diverse in terms of demographics. This diversity brings
unique challenges and opportunities that human resource managers need to address.
In summary, the paragraph explains how globalization, technology, the shift towards knowledge-based
work, and changes in the workforce's age and diversity are influencing the priorities and strategies of
human resource management. These factors require human resource managers to adapt their approaches
to meet the evolving needs of businesses and employees in a dynamic and competitive environment.
The concept of talent management as an integrated and holistic approach to managing employees
within an organization:
Key points:
1. **Integrated Talent Management Process**: Employers nowadays see the activities related to staff
management, training, and rewarding employees as interconnected components of a larger process known
as talent management. This means that these activities are not isolated from each other but are part of a
coordinated strategy to effectively manage the organization's workforce.
3. **Key Perspective of Talent Management**: Approaching talent management from this perspective
involves several important aspects:
- **Interrelated Process**: Recognizing that the tasks related to talent management are interconnected
and form a single, cohesive process. This contrasts with viewing them as isolated tasks.
- **Goal-Directed Decisions**: Making decisions in talent management, such as staffing (hiring), and
pay, with specific goals in mind. This ensures that these decisions contribute to achieving broader
organizational objectives.
- **Consistent "Profile"**: Using a consistent and well-defined "profile" when formulating plans for
various talent management aspects. This profile, which includes skills, qualifications, and other criteria,
should be utilized across recruitment, selection, training, performance appraisal, and compensation
decisions for a particular job role.
- **Integration of Functions**: Bringing together all the functions related to talent management. This
means aligning recruitment, training, performance assessment, and compensation processes to work
seamlessly and support the overall talent management strategy.
In summary, the paragraph emphasizes that talent management involves seeing staff-related activities as
interconnected, goal-oriented components of a comprehensive process. It involves coordinating different
functions like recruitment, training, and compensation to work together towards achieving organizational
objectives. This approach ensures that all aspects of managing employees are aligned and contribute to
the overall success of the organization.