Emerging Trends in HRM

Emerging Trends in Human Resource Management

The emerging trends in human resource department can be easily understood by the below mentioned  concepts  which  has  been  applied  by  the  research  scholars,  practitioners,  and Professionals.

Outsourcing

When the work is outsourced, morale and productivity can drop rapidly. To minimize problems, line  and  HR  managers  have  to  work  together  to  define  and  communicate  transition  plans, minimize the number of unknowns, and help employees identify their employment options.

HR goes soft on Performance.

The industry best are reformulating the processes for better results. Suggesting that performance measurement  processes  should  be  continuous  and  not  just  once  a  year.  The  performance appraisal  is  described  using  interesting  words  Jettison,  Worst-  kept  Secret  in  companies, absurdities of corporate life. Performance appraisals and management issues are not new but they have got to change if we are truly looking at how to motivate, compensate, reward and award people for high performance. GE abolished its performance appraisal system after 30 years in 2015. Others include Microsoft, Netflix, Google and several others followed suite Jaldeen (2016).

Workforce Diversity:

There are several dimensions of diversification; however, the important ones are age, gender, and ethnicity. The overall age of the workforce is increasing. Similarly, more women are also getting involved in the workplace. The diversification in the workforce can affect an organization differently.  From  one  angle,  it  can  be  the  source  of  cost  advantage, the  source  of  resource acquisition, marketing, creativity, problem solving and system of flexibility

Multi-Cultural Effects:

Innovation  of  modern  communication  and  transportation  system  has  tied  the  multi-cultured people together. They work together to meet their common and professional objectives even if they  have  different  traditions,  values,  social  attitudes,  religious  belief  and  living  approach. Management  is  effective  only  when  it  is  able  to  maintain  coordination  among  multi-cultural professionals.

In  the  context  of  Nepal,  political  instability,  powerful  labour  unions  affiliated  with  political parties, rising public expectations and lack of skilled manpower due to brain drain are the major challenges  for  managers.  Many Nepalese business organizations are operating in measurable conditions today because of the above challenge in recent years. After the country entered in the World Trade Organization (WTO), Nepalese export has been significantly declining and imports have been rising. This is a serious problem for the country's economy. In this context, Nepalese managers need to overcome the above challenges and the government needs to play the role of a facilitator.

References

Saratoga, (2006), “Key trends in Human Capital; A global perspective”, A price water house

Coopers.

R.Cesynienne,  (2005), “The  most  recent  trends  and  emerging  value  in  human  resource

Management”, ISSN 1392-2785 Engineering economics: 2005 4(44).

A.  Signal, (2004), “The human resources challenges on rediffmail.com, (accessed on 20

th December 2017 at 9pm)

Jaldeen,R., (2016), “Megatrends”: Human resource management 2020,
http://www.linkedin.com/pulse/megatends-human-resources-management-2020-dr-rizvan-mjaldeen, (accessed on 20 th December 2017 at 9.30pm).

performance management practices

Changing trends in performance management practice in global context

The traditional end-of-year appraisal, designed in the 1970s, is clearly not effective anymore. Global Human Capital Trends (Nathan Sloan, Stacia Garr, Karen Pastakia, 2015) research showed that 82 percent of companies reported that performance evaluations were not worth the time. A separate study reported that 41 percent of companies found widespread manager bias, and 45 percent believed performance evaluations did not motivate employees.

Today, as companies operate as a network of teams, careers and learning are strategic and companies are shifting from “jobs to work “in their operations, The need to align goals, provide feedback and coach for performance in real-time continuous and multi directional.

Hundreds of companies-including Adobe, Dell, Microsoft, IBM, GE, Goldman sachs, New York life, Juniper Networks, and Cisco continue experimenting with new processes, and most are finding great value. The focus has shifted from talking about people to talking with people in open conversations.”Our new performance approach is focused an improving discussions, creating frequent check-ins, and creating a developmental focus, “said Amy berg, director of talent at Adidas group.(N.Sloan et.el., 2017)

A critical goal in PM experimentation is to devise ways to align it more closely with business outcomes as organizations become more team-centric, focusing just on an employee’s individual achievements to evaluating the contribution to a team and the team’s impact on driving overall business goals.

But the biggest limitation of annual reviews, the main reason more and more companies are dropping them-is this: with their heavy emphasis on financial rewards and punishments and their end –of-year structure, they hold people accountable for past behavior at the expense of improving current performance and grooming talent for the future, both of which are critical for organizations’ long-term survival. In contrast, regular conversations about performance and development change the focus to building the work force your organization needs to be competitive both today and year from now. Estimates that about 70% of multinational companies are moving, towards this model, even if they haven’t arrived quite yet. (J.Bersin, 2016)

Cisco, GE, Google have all pioneered this model. These companies have built or bought sophisticated software to understand team dynamics, evaluate group goal systems and gauge how effectively employees contribute to their teams. The goal of PM is thereby transformed from boosting an individual employee’s performance to improving the result of the team. If the team wins the employee wins. If the team wins, the company wins.

References

D.Rock,B.Jones and C.Inge,(2015),Reengineering performance management: how companies are evolving PM by beyond ratings, Neuro leadership institute.

B.Hoffman, C. Lance, B.Bynum and W.Gentry(2010) “Rater source effects are alive and well after all”, Personal psychology, 63(1), pp.119-151

J.Bersin,T.McDowel, A.Rahnema and Y.Drume, (2017), “The organization of the fyture:Arriving now”, Human Capital trends:Rewriting the rules for the digital age,Deloitte university press.

P.cappeli, A Tavis, (2016) “The performance Management revolution”, Harvard business review. (http://hbr.org/2016/10/10/the-performance-management-revoulution) accessed on 05^th Dec. 2017 on 2.30pm.