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As a result of domestic and international competition, human resource management is being given a key role. Some of the effects in HRM are highlighted below:·
With manpower costs going up, and the need to bring product prices down to meet competition, manpower productivity has become a central issue in organizations. HR professionals will have to play a crucial role to fulfill this need.
· Another area of intervention would be in the case of joint ventures where professionals will have to predict and manage culture-fir policies. Companies are focusing on people with right profiles as also those who are capable.
· There is increasing emphasis on training and retraining to tap talent.
· Companies are showing increasing willingness to retain talent and redeploys manpower necessary.
· In some industry, India employees are being sought after abroad. This coupled with competition for employees among Indian companies, has led to an alarming attrition rate for some companies. To meet ambitious career aspirations and salary expectations, HR department are usually industry wise benchmarking for salary revisions.
· Employee compensation is being linked and programmers are becoming more focused, responsive and are also constantly reviewed against the external environment.
· Globalization has resulted in an influx of foreign managers to India.
· Corporate restructuring and redefining of roles are areas also focus
With manpower costs going up, and the need to bring product prices down to meet competition, manpower productivity has become a central issue in organizations. HR professionals will have to play a crucial role to fulfill this need.
· Another area of intervention would be in the case of joint ventures where professionals will have to predict and manage culture-fir policies. Companies are focusing on people with right profiles as also those who are capable.
· There is increasing emphasis on training and retraining to tap talent.
· Companies are showing increasing willingness to retain talent and redeploys manpower necessary.
· In some industry, India employees are being sought after abroad. This coupled with competition for employees among Indian companies, has led to an alarming attrition rate for some companies. To meet ambitious career aspirations and salary expectations, HR department are usually industry wise benchmarking for salary revisions.
· Employee compensation is being linked and programmers are becoming more focused, responsive and are also constantly reviewed against the external environment.
· Globalization has resulted in an influx of foreign managers to India.
· Corporate restructuring and redefining of roles are areas also focus
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