Top 6 Challenges of Human Resource Management
Retention of best talents
A human resource department, no matter how complex or simple they are, finding the right talent and retention of the right talent are highly imperative for any business. Gone are those days, where the work of an? HR professional gets over with allocating the right talent to the organization. Today much more challenging job of HR is to retain those best talent/ employee for a longer period so that company gets ahead in the race.
Every company should understand that skilled people are always in demand in the market and retaining them by offering a better package and quality work culture is the most crucial phenomenon for any business to survive. Therefore an HR professional is always in pressure to conduct some novel approaches to employee development and engagement kind of activities to retain their invaluable assets.
Profitability and Productivity
Minimal cost and maximum profit is the aim of any business to ensure its success. A company with higher productivity is quoted to be more successful. For this reason, a company always strives to keep their employees happy, motivated and self-directed as it helps with analyzing the situations and also making out proper conclusions whether it is the result of an inefficient employee or inadequate resource.
In both cases of an inefficient employee or inadequate resources, the adequate amount of training or even recruiting new staff could be the solution. In both cases, HRM should manage on-site as well as off-site job training for the employees. Providing training and support to employees not only benefits the company but also helps the employees tuning them to a vital part of the business.
Management of a diverse workforce
A company should very well know the fact that only a satisfied or engaged employee can be productive and can stick around for a longer period of time. And the retention of employees is not so easy until they are kept satisfied and accomplished. Retention of employees is equal to saving of resources, as it keeps away from external burdens like recruiting, hiring and training of new staff.
And today managing the employees is not an easy task as many companies comprise of a diversified workforce. And this diversity is not only created on the basis of age, gender or the educational qualification but also with the nature, personality, and background of workers. With a more diverse workforce, there is always a chance to arise the cases or issues pertaining to harassment or discrimination of staff. Therefore the company should be well versed in handling such aspects.
Dealing with Globalization
Globalization in business refers to the integration of company operations in diverse cultures, products, services, and ideas, thus making a deep impact on how companies manage their employees. With the advent of globalization, companies started interacting with customers and stakeholders from diverse cultures, languages and social backgrounds. In response, the HR professionals are also bound out to hire employees from equally diverse backgrounds to accomplish the tasks. In a later case, the push for professional development also came as the aftermath of globalization where the organization got embedded with additional duties of providing employees the opportunities that help in achieving their career-related goals.
In short with globalization, a company has to deal with numerous challenges related to languages, work culture, management approach, and also handling of various tasks such as scheduling the meetings, managing the respective holidays, outsourcing of skilled talents to overcome the challenge of globalization.
Resisting the replacement
In the age of automation and robotics, people often fear that technology may kill their jobs. With technological innovations to name a few like robotics, artificial intelligence, natural language processing and machine learning, the lifestyle and work culture of humans have undergone a drastic change that too at a rapid pace. These technological advancements fear to take over a large number of jobs from humans in the near future, replacing the humans with machine or computers to get the job done cheaper and faster.
To eradicate the fear among employees, the HR professionals should be abreast in developing the right strategies to fight this resistance of replacement via assuring the employees they're worth to company and contribution to the business success. Along with that, an HR professional should also succeed in perceiving the technology among employees not as an obstacle, but as an aid to process their work with much ease.
Privacy and Confidentiality
Confidentiality is critical and upholding them is a huge challenge for the Human Resource Professionals. Maintaining the privacy and confidentiality turns out to be a huge challenge among HR when certain information is to be divulged among others so that the participants can easily evaluate the matter. A human resource professional, therefore, must be able to able to maintain the balance preserving the employee confidentiality and privacy.
But with the rise in technology, the confidentiality is always at stake. In that case, providing the employees with training on how to secure their data may help in saving across the sensitive and confidential business information. If human resource professionals fail to recognize and confront the challenge, it can become a great threat to the confidentiality of the business.