Human Resource Management – Scope, Analysis, And Significance
Human Resource managers hold a significant position in every business as they pave the way for growth and make decisions related to recruitment, talent management, training, and employee experience.
In the last few years, the Human Resource department has undergone a dynamic shift as they have taken on a more important position in the organization by reshaping the future of the workforce. With new developments in technology, gone are the days of managing the workforce with an Excel spreadsheet as human resource managers now turn towards detailed workforce plans in order to stay competitive and relevant. As the Millennials and Gen-Z generations enter the workforce, HRM has started to invest in new technology to keep up with arrangements like remote freelance workers.
The significance of HRM in the organization
The need for HRM to keep up with the shifts in technology has become a necessity and a report by KPMG that surveyed 1200 HR executives in 64 countries showed that 39% of HR leaders are using technology such as analytics, AI and digital labor to redefine obsolete ways of managing people.
Human Resource managers hold a significant position in every business as they pave the way for growth and make decisions related to recruitment, talent management, training, and employee experience. In addition to managing these day-to-day activities, they also need to provide employees with guidance and make the shift from a traditional workforce to an agile one. In a study by G2 Crowd’s Report, employee engagement will increase by 45% and this change is driven by HR.
Future of HRM
The future of HRM includes a collaboration between digital technology and human labor. They understand that workforce productivity can increase with automating mundane tasks which can increase competitiveness and enhance performance. The role of HRM has become increasingly significant over the years as they strive to engage employees and drive efficiency in the workplace.