Current Trends in Human Resource Management
Technology is ubiquitous. Whether you are in the industrialized world or developing markets, a growing number of people are connecting with mobile devices like colorful cell phones and very portable computers like Apple’s iPad. This allows people to communicate across archaic boundaries within companies or externally across the world. They have instant access to information and to people. brilliant CEO’s are thinking about ways to leverage this technology explosion. Many are already experimenting with virtual teams, non-traditional workplaces, and flatter corporate structures.
How will your company leverage technology? Are there ways to connect more effectively with co-workers, customers, or investors? Can access to information abet to hurry the company more effectively? Have you identified what information is necessary to your success and how it should be shared? Will you exercise an enterprise platform like SAP or Peoplesoft, or will you simply spend basic services like email and the Internet? So, the basic examine from a human resource perspective is how to utilize technology to connect people and information to your advantage.
If you are not thinking about all of this, rest assured that your competitors are already experimenting with the modern technologies. originate positive that you don’t pick up left in the dust. Global Marketplace As demonstrated during the unusual downturn, worldwide economic activity is more interdependent than it ever has been in the past. Although trade has crossed borders even before the Silk Road was traveled by Marco Polo, in today’s global marketplace what happens in one country usually has a dramatic impact in another. The largest economies like the US, China, Japan, nd Europe are so interdependent that their leaders meet periodically at the G-20 summits to discuss issues of mutual interest and favorite strategies. Smaller countries that were formerly called third-world countries are now called emerging markets because they have the most robust growth. It is now also possible to do business across borders more easily using global transportation services like DHL, FedEx, and UPS. Even minute businesses have the opportunity to compete or bewitch supplies from outside their local marketplace.
This is a growing trend and remarkable of the growth will be outside of the developed countries. So, how is your company positioned to participate in this growth? Can you tap into modern markets or get suppliers or contract workers at lower cost? Can you partner with other businesses or agencies in different markets at home or abroad? If you are looking for recent customers, project workers or current opportunities, then it only makes sense to believe about strategies that would allow your company to participate in the global economy.
How can your company tap into the growth in the emerging markets? More specifically from an human resources perspective, can you leverage contract workers for projects or benefit staff? While this may not be feasible for every business, it might be more viable than you deem. Workers who do their job primarily at a computer can do this unbiased as well in another space or country. This is especially proper if you have the just technology platforms or exercise cloud computing.
While there are security, cultural, and other issues to address, don’t let the opportunities pass you by honest because you haven’t understanding globally about your business in the past. The future is a global marketplace. deem globally. Rising Costs of Benefits In the United States, health care and succor costs generally have been rising at an unsustainable rate. modern federal health care legislation may address some issues; however, it is tranquil very likely that the costs will continue to rise. Thus, companies will be looking to shift the burden for the costs of benefits.
Some of this will be shifted to the government, some will be shifted to workers, and peaceful other benefits will unbiased be chop because they are no longer affordable. Many companies have already chop their defined benefits pensions and retirement programs. Others have modified them to lower matching contributions when they aren’t making a profit. Others have shifted their health insurance to high-deductible plans which offer lower premiums, but also require workers to lift up mighty of the basic cost even when they exhaust health savings accounts.
Thus the trend for many companies is to be more frugal with employee back offerings; however, other companies will consume their enhanced abet programs as a recruiting tool to attract the top talent in their industry. So each company must analyze their benefits in relation to their overall strategy to attract and support talent for their firm while balancing the overall costs of the programs. You must be able to reply the basic expect, “What is our compensation and benefits philosophy and how does if fit into our overall business strategy? Flexible Workplace
The workplaces in the future will be more flexible. Once again, technology might be one of the driving considerations that makes this possible; however it is not the only factor. Younger generations are not only more accustomed to being treated differently, but in some cases examine that employers are flexible so that they can balance work-life issues. Unless there is a compelling reason for workers to be on spot during obvious hours, such as a doctor in an emergency room or a shift manager at a manufacturing facility, then employers should contemplate about how they can be more flexible in their workplaces.
Allowing workers to tele-commute has both disadvantages as well as advantages, so there is not a simple legal or unsuitable retort for every company. However, design no mistake; some companies are working through these issues honest now so that they can offer flexibility for their employees that compliments their business strategies. This will be their key to attracting top talent. Demographics Demographics are definitely changing. In the United States where there is a tradition of immigration, there is a shift from the venerable white-male dominated workplace to a multi-cultural environment.
This is happening at all levels from line-workers to management. Additionally, women will smash through the “glass ceiling” and rise to more senior management ranks. Beyond ethnic and gender considerations, age is also likely to play into the equation of workforce planning. Many leadership and managerial positions are now occupied by aging “baby-boomers” who will be retiring over the next five to ten years. This will inaugurate up current opportunities for younger workers, but only if they are prepared.
On the other hand, some older workers will be working well past retirement age either because they haven’t saved for retirement or because they will be retained as famous employees due to their job experience. They might be willing to cease if their employer offers some flexibility like job sharing or a four-day work week. Outside of the US, industrialized nations will also need to deal with aging populations while the emerging countries will have younger workers who are involved to allotment in a more affluent lifestyle.
Thus, CEO’s and HR managers are thinking about ways that their workforce will change in the next few years. Will you have ample leaders to replace aging baby-boomers? Will you need to relate younger workers to transfer the institutional knowledge that is currently retained by your more experienced staff? How will your company retract advantage of shifts to a more diverse workforce? These are all very famous questions that must have an reply if your firm is going to thrive in the future.
Looking into the future is hard to do, especially in the 21st Century, but trends offer some clues. We live in a more complex and interconnect world. Events in one allotment of the world are speedily news everywhere over the internet, cable TV and mobile phones. Although it is an exaggeration to say that the gentle flutter from a butterfly’s glide in Asia can result in a hurricane on the other side of the globe, we seek the far reaching effects from events in one plot to other regions that would not have known about them in the past.
Thus, it is notable to ogle for trends that will impact our world. If you can capitalize on the changes that result from the trends, then you can prepare to either pick advantage of them or minimize their despicable impact. These five trends in human resources trends are already impacting the diagram we do business. They will definitely continue to impact our world, and it is up to you to figure out how to leverage them to your advantage.