Human resources management has evolved considerably and experienced a major transformation in form and function. Driven by a number of significant internal and external forces, human resources management has progressed from a maintenance function to what may now be regarded as the source of sustained competitive advantage for organizations operating in the global economy. In order to successfully steer any organization towards profitability, it is necessary for the management to recognize the role of the human resources department. The management also needs to invest a considerable amount of time to learn the changing scenario in the HR department, in order to survive the competition.
Some of the recent emerging trends in global human resource management are as follows:
A company’s HR activities play a vital role in combating the crisis of high attrition rates, shortage of skilled employees and poaching strategies. The role of the HR manager is changing from that of protector to that of planner and change agent. As ‘personnel’ is the name of the game today, personnel directors are the new corporate heroes. Highly skilled and knowledge based jobs are increasing, thereby calling for future skill mapping through the right HRM initiatives. As most organizations want to be globally aligned, we are witnessing a change in systems, global payroll solutions, management cultures and philosophy. Companies are employing people from across the globe. This situation has given rise to a global HRM keeping in mind the need for multi-skill development across a motivated workforce.