What are some of the opportunities and challenges impacting the future of human resource management (HRM)?

 Today, the stream of Human Resource Management (HRM) is witnessing numerous pressures for change. Domestic diversity, shifts in the economy, globalization, and technology have given rise to new demands for organizations and driven the field in some completely new directions. Human resource, as a field and department, has a major challenge in the near future – be it with respect to retaining capable employees or managing the workforce. However, we are also of the opinion that these challenges create several opportunities for HR as well as organizations overall.

Listed below are probable major setbacks as responded by HR professionals and recommended ways to deal with them.

Conducive work environment

The finest of the b-schools, when delivering highly-coveted courses like post graduate diploma in humanresource management, diploma in financial management, or post graduate diploma in business administration, has always put emphasis on creating a work culture that lifts employee morale and progresses performance. However, a lot of organizations fail to create an environment of clear and transparent work communication, which further affects employee’s dedication towards work. Thus, the need of the hour remains to consider which teams need support, improvement, or additional training. This not just helps the company but also the employees who form a part of this chain in order to feel that they are a vital part of this business.

Retaining talent

The days are gone when hiring a good candidate was enough. Most of the HR professionals would now agree that in the times to come, the battle will be to retain the best talent as well as well-performing employees. As the competitiveness in the market is growing, to keep the organization ahead in the race, identifying and rewarding real performers will need more integrated efforts to develop loyalty amongst employees. Flexible work timings, health and safety, employee development and engagement, and work-life balance are few ways that could retain employees.

Embrace technology

Implementing new technological change has become essential in the present-day world. Any shifts in the technology or workplace can create unease or resistance amongst employees. Since technological changes impact the overall nature of work and business, the employee, too, is left with no option but to adjust with the change, as in the process, there’s a possibility of unemployment or new work opportunities to generate. Here, the role of HR becomes to develop strategies to overcome this resistance to change which takes place by assuring employees of their contribution, worth, and talent for the business.

To survive amidst these abrupt changes and avert adjustment concerns, HR must be proactive in succession planning. The future challenges of HR are continuing due to changing workforce diversities and demographics, competition in the international market, and technological changes. Hence, offering a learning environment and new opportunities internally, within the organization, may help attain all the opportunities and overcome challenges because the employees attain experience even as they become more marketable.