Changes in 21st century impacting HRM

Some of the recent trends that would have a important impact on the way HR practices would obtain transformed in future may be listed thus:

HR as a spacing board for success: Executives along people management skills would be able to take the show, as they help integrate corporate goals with employee expectations in a significant way. Senior HR executives would be able to easily move into top management positions, by using their soft skills to good advantage.

Talent hunting, developing and retaining: Clear target areas: The 21st century Corporation would be searching for people with cross-functional expertise strong academic background and team management skills. The new recruits are expected to use the scarce resources judiciously and generate excellent results- in line along the expectations of internal as well as external groups. As companies realise the significance of human element in acquirement a sustainable competitive benefit, there would be a mad scramble for 'talent'. In turn, it would compel corporate houses to pay close consideration to talent acquisition development and retention through novel developmental attempt compensation packages and incentive format in apart from flexible working schedules. More and more workers would be able to progression of information through working at homes, by forcing companies to evaluate each of the employee's contribution carefully and pay accordingly.

Lean and mean organisations: Organisations will be forced to get rid of low-end job, say good-bye to older employees with restricted skill-sets, outsource work to specialised institutions in an effort to save costs and remain extremely competitive. As a result layoffs would take place and unemployment rates will grow up; large outlays of cash can be needed while purchasing out older employees and getting employee loyalty and commitment would be fairly challenging in such type of scenario.

Labour relations: Privatisation, deregulation, global competition and the like would in a way, mean the end up of the road for trade unions. They will lose their count gradually but steadily. The political support like by them hitherto would also come down drastically. Economic compulsion would make the employers and employees both realise the craziness of pulling down shutters or going on strike, however genuine the reason may be. In labour-management relations governmental influence would have just historical significance as employment-related issues start to be dictated by market forces.