It is said that the global human resource management (HRM) sector is projected to reach $30 billion by 2025. Well, in other words, the business of making creative HR arrangements is prospering. And this resourceful management industry is currently experiencing a deluge of innovations.
Talking about age old businesses like Dabur and Himalaya, their management has been working in a steady manner and the legacy seems to be running at a consistent level since time immemorial. The pattern toward an employee-tailored workplace is fast gaining a lot of importance, and if you aren't in trend with the change then you may need to change rapidly. HR change has advanced essentially over the previous decade alongside the changing business condition and difficulties—in India and around the globe. Historically, mature HR groups and functions seem to have concentrated on improving working productivity and managerial adequacy. Today, such upgrades are table stakes.
advanced hr management techniques help in propelling the abilities to adjust HR structure and administrations. Propelled HR abilities empower an association to execute its business technique all the more successfully and improve execution over the whole venture — but not just within the HR function. As of late, HR Transformation has prompted a noteworthy restructuring of HR activities and procedures — transforming the way HR services are delivered. However there is still much work to do. Organizations today face noteworthy HR challenges that scarcely existed a couple of years ago. For example: the concept of paid maternity leaves for working women wasn't even worth considering as the ratio of working women was next to NIL.
But the present day generation of the original heirs of these brands are brimming with astounding amount of change in their managements. Their focus is relaying more upon their employees and the end goal for them is to fetch best results from the employees and keeping them satiated as well at the same time. They realize that in order to get their firm into the listing of ‘name to fame,' they have to do something extraordinary, and what better than providing few ethical changes in their management for the employees! So, in order to revolutinalise the HR management of the new-age firms, here are few disruptive changes being worked upon to be adopted by many new-age companies; The Supreme Court's decision to decriminalize Section 377 has paved the way for companies to openly put in such practices for employees at workplace with an alternate sexual orientation, said HR experts and gay rights activists.
“How cool, ‘WOOOO'-man! The Maternity Benefit Act 1961 finally is being implemented in many organizations. Well, the act was prevalent but the implementation seems to be getting adopted now at work places. Under this act, working mother will be entitled for a 6 months paid maternity leave.
Access to work from home is also gaining fast traction amongst many HR executives of the company. Sitting in front of the desktop for hours doesn't help giving out fruitful results always. Infact when employees tend to work at ease, they are more productive. Therefore, at many work places, few days of work from home for employees have been mandated.
In comparison to an experienced workforce, younger and smart talent is being hired as younger workforce is more entrepreneurial in their vision, values a solid work-life balance and seeks flexible working structures.
We have full faith that, the Next Generation HR Transformation and disruptive innovations will require a critical change from the present spotlight on the management activities — which are ordinarily planned at 0.5 percent to 0.7 percent of income — to tomorrow's emphasis on building vital business benefits. Further, it will be interesting to see how HR steps up to the ongoing challenges, and we look forward to adopting these changes in order to succeed the organizations on similar lines. This leads us to conclude in an era of fast changing global macro-economic-social scenarios, the new-age firms would need to adopt progressive human resource policies