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2/2/2012

HR TRENDS Is it all for Good?

IT industry in India has adapted and grown over the past few decades. The country has witnessed changes in regulatory policies and over a period of time adopted these changes into Human Resource Management. The perception of transnational organizations about Indian market as an affordable labor market has created an influx of overseas projects. The outsourcing business model led to many changes within the IT industry which resulted in increase in Indian diaspora. This has led to entrepreneurial growth and slowly the IT Product development industry is evolving. The recent recession left a few bad experiences but the market seems to have recovered. How have all these events impacted Human Resource trends in the current market? Are the needs of people changing with overseas assignments increasing? How are expats managed? How to design Training and Continued Professional Development programs? Pay scales and benefits are increasing, how does a product oriented company survive this growth in demands and expectations? In the initial stages of industrial growth, people believed in full-time employment, but as the industry has evolved so has the nature of jobs. Contractual jobs, temporary jobs and assignments are common. This has led to an increase in pool of resources, and skill abundance. The 2011 census provisional data reveals that literacy rate has gone up from 64.83% in 2001 to 74.04% in 2011 showing an increase of 9.21% in 10 years. This is a clear reflection of changes in the outlook of society towards education and work. However unemployment rate has increased from 8.8% in 2002 to 10.8% in 2010.

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Clearly, there is a drop in the number of jobs being generated after recession. India being an emerging market there is scope for increased complexity in HR legal compliance due to frequent regulatory changes, use of technology to perform national and transnational functions such as e-learning, expat management or International Human Resource Management, adaptability to cultural changes due to migrations and growing complexity in organizational structures due to globalization. Growing organizations pose challenges in the way jobs are created and redundancies are made creating need for implementation of change management initiatives and policies. HR competencies are more sophisticated as HR practitioners now bridge the growing business need by

creating systems to understand team behavior, apply business procedures in customer oriented manner, advocating diversity in values which helps in conflict resolution, exhibiting leadership skills in risk assessment, staff development and ethical value creation to enable trust acting as Change agent influencing others with coalition skills and managing change through consulting

Recent research in Reflexive management practice reveals that with increase in Collaborations, HR practitioners need competence mapping both at organizational and personal level. Failures in Collaborations have been attributed to several reasons, amongst which failure to build bonds through leveraging diversity and failure to build organizational political awareness has been directly linked to HR practitioners. It is quite obvious that any organization relies on human resources to reach its objectives and managing this resource or developing it is core to HR practitioners.

In this section we have highlighted the ways in which human resource management can help in organizational development. In the next section of CEO Speak, we will be covering Cultural issues challenging globalization and how expat management has become a necessity nowadays Keep in touch! Click here to go to this blog