Role of HR managers in the new economy

Role of HR managers in the new economy

No business decisions are made without involving the HR professional

Today’s market is highly competitive and business environment is also very challenging. In such a context organisations require highly skilled talented people to deliver the best and survive and further sustain in this competitive business world. Now organisations need people who could explore newer markets, innovate new technologies, learn new language of work and sustain business operations with enriched contributions. New age entrepreneurs are keen to develop competent and value based human assets. They desire their HR to be the best and be the champions of best HR policies.

Now, HR is a strategic function and no more a supportive department. The role of managers have become ever complex and to manage these functions organisations need to select the right set of people with the modern attitude and the latest knowledge.

A HR professional is a part of the business and no business decisions are taken today without the active involvement and contribution of HR professionals. HR professional’s role now is partnering, providing and preparing. Even today we can see that HR professionals are climbing up to the position of CEO, which was a dream for a HR professional few years back. Success and failure of business depends to a great extent on the functions of HR department. Today’s high attrition rate is also a function of poor HR policies. Retaining the employees has become a biggest challenge for the HR professionals.

Now employees are no more just employees but they are knowledge employees. In today’s knowledge economy, attracting and managing knowledge employee, training and developing them have become the major task of HR. Innovative methods and new systems like walk-in interview, tele-interviews, and referrals are being developed to ensure best people are attracted and selected. Even now company gives emphasise on re-recruitment, which is proven very successful. With the changing business scenario many new concepts have come in HR parlance like temping, head-hunting, reverse recruitment etc. The role of HR has become critical for any company’s success.

HR has enabled the organisations to quickly realise the people’s motivation and interest resulting sustainable business growth. Ensuring people’s contributions continuously match the business demands, therefore, become the responsibility of HR. Its major actions elate to select the best, retain the best, develop the best and provide the best.

Intensive competition among the companies across the countries, in today’s borderless world, has made the situation worse. Now, companies talk about productivity, target and delivery. The expectation of the company from its employees have increased manifold. Stretching of working hours is a common practice in industry. The concept of 24X7 work culture has also put lot of pressures on the employees. All these changes in work environment have brought fresh challenges for the HR professionals. To deliver under stress, employees expect a good work—environment and work culture. Quality of work life has become an important area with work-life balance concept in the forefront.

HR is more active to day and playing a more dynamic and significant role in business operations. The HR operational boundaries have expanded from mere legal and welfare to more global and international happenings. HR today benchmarks against the global best companies and competes with the world-class companies. Top class experts, executives and CEO’s at national and international levels are focusing on developing new standards of HR through out the world.

HR today has thus moved into an active mode. Its policies, tools and strategies are moving keeping in tune with the business demands.

HR now provides fast and more qualitative responses to people related issues. New concepts of recruiting, structuring organisations, labelling people, along with newer forms of compensation, innovative methods to retain and motivate employees are being worked out vigorously.

Business policies are pushing him to address newer issues and find very creative solutions. The new HR destination is very modern. HR today speaks e-language and operates all e-related systems and platforms. All HR processes are e-based. In order to support the speed of business, HR has become e-centric & web-centric.

E-based HR systems are being developed to provide on-line support to other executives and employees. Today e-HR, e-Recruitment, e-HR systems are very common. In fact, in the modern organisations, one could find lot of innovation of application of computers and e-based systems, which enable employees to have access to all the information, which they need, in company’s web site or in intra-net.

Source: CMR Institute of Technology Asst Placement Officer & Faculty

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