:icon1: Personaly i feel, HR managers will focus on leadership development, compensation management and healthcare benefits in the New Year.
If 2007-08 was the year of Indian companies going global, skyrocketing pay packages and countless job opportunities, the coming year promises to take these developments to the next level.
Needless to say that HR heads will be working over time either to recruit talent to meet the companies' growth targets or to chalk out HR policies to retain the best people. Experts in human resource management say that trends such as outsourcing the human resource (HR) function, flexible work timings and job sharing, prevalent in the West till now, will take off in India as well.
A lot of business for Indian companies is either coming from abroad or going there. In such a scenario, companies will have to re-orient their HR practices and bring them in line with international norms.
Clearly, at a time when mergers and acquisitions are the order of the day and growth is driven by competition, keeping the employee satisfied not only in terms of money but other benefits as well will be top priority for HR heads.
There will be more facilities to help employees in terms of working from home, health and welfare benefits and retirement benefits.
Acquisition and retention of talent will not be the only challenge. "Apart from talent acquisition and retention, leadership development, aligning and integrating people's performance with business goals, management of intellectual capital and compensation management would also require attention of HR managers in the coming year".
The Indian IT services industry, which has been a forerunner in creating and implementing innovative HR strategies, is expected to focus more on strengthening the middle management cadre. The IT industry's challenge seems bigger as the sector is facing an acute shortage of skilled manpower, rising income levels and the proliferation of new job opportunities.
"Organisations that continue with traditional enterprise resource planning will struggle. Realising this, many companies have adopted various advanced technologies in their work life like human analytics, human capital management, early warning systems and others. These technologies help increase the efficiency level and meet the ever increasing needs in this competitive world."
Besides pay, which drives and keeps employees satisfied in an organisation, the coming year will see recognition, brand value represented by work culture, learning and growth opportunities play important roles.
"Companies are and will increasingly resort to variable pay (such as incentives and bonuses) to reward and retain high performers in 2008. From the organisation's point of view, the need to balance burgeoning pay packets and tighten budget strings can be best addressed through a system of rewarding those who contribute towards its growth".
HR experts say that except manufacturing, nearly all other sectors are expected to hire robustly. "Sectors like IT, retail, telecom, real estate, infrastructure and media are all going to hire in a big way."
Thanks & Regards,
Priyanka
From India, Vadodara
1If 2007-08 was the year of Indian companies going global, skyrocketing pay packages and countless job opportunities, the coming year promises to take these developments to the next level.
Needless to say that HR heads will be working over time either to recruit talent to meet the companies' growth targets or to chalk out HR policies to retain the best people. Experts in human resource management say that trends such as outsourcing the human resource (HR) function, flexible work timings and job sharing, prevalent in the West till now, will take off in India as well.
A lot of business for Indian companies is either coming from abroad or going there. In such a scenario, companies will have to re-orient their HR practices and bring them in line with international norms.
Clearly, at a time when mergers and acquisitions are the order of the day and growth is driven by competition, keeping the employee satisfied not only in terms of money but other benefits as well will be top priority for HR heads.
There will be more facilities to help employees in terms of working from home, health and welfare benefits and retirement benefits.
Acquisition and retention of talent will not be the only challenge. "Apart from talent acquisition and retention, leadership development, aligning and integrating people's performance with business goals, management of intellectual capital and compensation management would also require attention of HR managers in the coming year".
The Indian IT services industry, which has been a forerunner in creating and implementing innovative HR strategies, is expected to focus more on strengthening the middle management cadre. The IT industry's challenge seems bigger as the sector is facing an acute shortage of skilled manpower, rising income levels and the proliferation of new job opportunities.
"Organisations that continue with traditional enterprise resource planning will struggle. Realising this, many companies have adopted various advanced technologies in their work life like human analytics, human capital management, early warning systems and others. These technologies help increase the efficiency level and meet the ever increasing needs in this competitive world."
Besides pay, which drives and keeps employees satisfied in an organisation, the coming year will see recognition, brand value represented by work culture, learning and growth opportunities play important roles.
"Companies are and will increasingly resort to variable pay (such as incentives and bonuses) to reward and retain high performers in 2008. From the organisation's point of view, the need to balance burgeoning pay packets and tighten budget strings can be best addressed through a system of rewarding those who contribute towards its growth".
HR experts say that except manufacturing, nearly all other sectors are expected to hire robustly. "Sectors like IT, retail, telecom, real estate, infrastructure and media are all going to hire in a big way."
Thanks & Regards,
Priyanka
From India, Vadodara
I guess HR trends 2009 will have following highlights--
From India, Bangalore
–Hiring will be lesser and process will be intense to check for fit and serious career intent.
–There will be jobs for career makers and not job seekers.
Maybe CIDS, Personality factor to skills intensive tests, more dummy rounds and a long and slower hiring cycle.
–Compensation will be based on what is the value for service and not just a market figure.
–No more nominal roles with fancy titles, more opportunities for young performers.
–Reviews will be frequent and decisive in outcomes.
–Retention of only very critical talent.
–Sizing and structuring of team will be happening too soon and with quicker intervals.
–Laggards will be exposed and teams will pull up performance.
–Expected level of performance will be out of the performance parameter.
–Lean teams with added responsibilities.
–Every approval will be scrutinized and rationalization will be done for all kinds of expenses.
–Business Unit heads will be asked to identify bottom 10% or 20% work force who will be laid off in next 3 months.
-Mrinal Krant
–There will be jobs for career makers and not job seekers.
Maybe CIDS, Personality factor to skills intensive tests, more dummy rounds and a long and slower hiring cycle.
–Compensation will be based on what is the value for service and not just a market figure.
–No more nominal roles with fancy titles, more opportunities for young performers.
–Reviews will be frequent and decisive in outcomes.
–Retention of only very critical talent.
–Sizing and structuring of team will be happening too soon and with quicker intervals.
–Laggards will be exposed and teams will pull up performance.
–Expected level of performance will be out of the performance parameter.
–Lean teams with added responsibilities.
–Every approval will be scrutinized and rationalization will be done for all kinds of expenses.
–Business Unit heads will be asked to identify bottom 10% or 20% work force who will be laid off in next 3 months.
-Mrinal Krant
From India, Bangalore
I guess HR trends 2009 will have following highlights--
From India, Bangalore
–Hiring will be lesser and process will be intense to check for fit and serious career intent.
–There will be jobs for career makers and not job seekers.
Maybe CIDS, Personality factor to skills intensive tests, more dummy rounds and a long and slower hiring cycle.
–There will be jobs for career makers and not job seekers.
Maybe CIDS, Personality factor to skills intensive tests, more dummy rounds and a long and slower hiring cycle.
–Compensation will be based on what is the value for service and not just a market figure.
–No more nominal roles with fancy titles, more opportunities for young performers.
–Reviews will be frequent and decisive in outcomes.
–Retention of only very critical talent.
–No more nominal roles with fancy titles, more opportunities for young performers.
–Reviews will be frequent and decisive in outcomes.
–Retention of only very critical talent.
–Sizing and structuring of team will be happening too soon and with quicker intervals.
–Laggards will be exposed and teams will pull up performance.
–Expected level of performance will be out of the performance parameter.
–Lean teams with added responsibilities.
–Every approval will be scrutinized and rationalization will be done for all kinds of expenses.
–Laggards will be exposed and teams will pull up performance.
–Expected level of performance will be out of the performance parameter.
–Lean teams with added responsibilities.
–Every approval will be scrutinized and rationalization will be done for all kinds of expenses.
–Business Unit heads will be asked to identify bottom 10% or 20% work force who will be laid off in next 3 months.
-Mrinal Krant
From India, Bangalore
To add to Priyanka's articles last statement...which says...
HR experts say that except manufacturing, nearly all other sectors are expected to hire robustly. "Sectors like IT, retail, telecom, real estate, infrastructure and media are all going to hire in a big way."
In manufacturing the HR trends are going to be around development of the existing employees and identifying opportunities for internal growth. HR would largely be focused on ensuring they retain and retrain people to increase per employee productivity. We should see a lot of those initiatives happening in this year.
From India, Delhi
HR experts say that except manufacturing, nearly all other sectors are expected to hire robustly. "Sectors like IT, retail, telecom, real estate, infrastructure and media are all going to hire in a big way."
In manufacturing the HR trends are going to be around development of the existing employees and identifying opportunities for internal growth. HR would largely be focused on ensuring they retain and retrain people to increase per employee productivity. We should see a lot of those initiatives happening in this year.
From India, Delhi
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