HRM Challenges

  Role of Human Resource Analytics Figure 1 : Benefits of HR Analytics HR analytics is a tool for gaining insight into how human capital investments contribute to the achievement of four main goals: generating revenue lowering expenses limiting risks carrying out strategic plans. This is accomplished by using statistical approaches to analyze data from HR, talent management, finance, and operations  (World Wide Transcripts, 2021). How Does HR Analytics Drive Business Value? HR data may be used to improve employee performance, the employee experience, and, as a result, increase business outcomes. Using data-driven insights to change the training offering as sales results emerge, HR analytics might be used to monitor investments in reskilling, which would deliver the right competences to support a new revenue model. Figure 2  : HR analytics metrics HR analytics can assist firms in making better decisions in the following areas.   Turnover HR teams can...

Recruiting trends in 2022 Figure 01 : Recruiting Trends Recruiting and retaining talent is a significant priority for many business leaders as we head into 2022 in this extended pandemic-driven operating climate. The Great Resignation of 2021 saw a higher-than-normal rate of employment resignations. Many employees may have re-evaluated their priorities and values, which may have included considering how their bosses treated them throughout the pandemic and the industry's susceptibility (e.g., hospitality, retail). Mass resignations have resulted, as well as a highly competitive talent market for companies. Recruitment methods have had to adjust to change in the recent years. Hiring techniques that were common in the aftermath of the pandemic are starting to look old and unproductive. With the rise of remote working and skills shortages, it became clear that the recruitment landscape would never be the same again. In light of this, here are few recruitment trends that can be ...

  Importance of Talent Retention The measures used to keep talented and skilled individuals within a business are referred to as talent retention. Employee retention is critical to the success of any organization or business. Employees are regarded as an organization's most precious asset, and the worth of a resource increases over time. The most critical approach for retaining valued personnel and maintaining a strong employer-employee relationship is employee retention. Today workers have more job options than they have in decades, so HR professionals must work hard to keep their current employees – or risk losing them to a highly competitive talent market. Employee retention management entails taking intentional steps to keep employees engaged and focused so they choose to stay on the job and contribute fully to the company's success. A robust employee retention program can help you attract and keep important personnel while also lowering turnover and its associated ex...

  Employee Career Aspirations, How can organizations support? Career aspirations are employees’ vision for the future or is the long-term dream that an employee is pursuing. It’s the feeling that encourages employee to move ahead with his/ her plan. Employee contribution is important to organizational effectiveness (Griffin et al., 2007; Strauss et al., 2015). This is because, in today's fast-paced business world, businesses rely largely on employees' innovative and creative ideas to outperform competitors, thrill customers, and provide better services. Many career theorists argue that, in response to this tendency, individuals have become more active and agentic in their professional development, developing strategies to meet their job demands and achieve their career goals. As a result, while managers are putting in a lot of work to figure out how to manage difficult business conditions, individuals are more motivated by their personal professional objectives than by organi...

  Want to improve team cohesion? Why and How?   The strength and breadth of interpersonal connections among a group's members is referred to as team cohesion. Members are more likely to participate and stay motivated to achieve the established goals because of this interpersonal tie. Not only group goals are attained when a team is cohesive, but everyone feels like they contributed to the group's overall success. Individuals on a cohesive team are more driven to work toward the team goal and focus on the complete group rather than themselves  (LEE, 2022). What makes a team cohesive, and how can team leaders assist their members in succeeding? Four stages in team development Forming, Storming, Norming and performing can be used to assess a team’s cohesiveness and leaders and team members can understand why certain behaviors are happening and make informed changes. Figure 1 : Teams maturity model A well-coordinated team is capable of completing its purpose or mis...

  It’s a New Era for Mental Health at Work   Mental health  includes emotional, psychological, and social well-being . It has an impact on the way employees think and feel and also influences how they deal with stress, interact with others, and make decisions. Risks factors to mental health Risks can be tied to job content, such as duties that are inappropriate for a person's skills or a heavy and unremitting workload and in circumstances where there is a lack of team cohesion or social support. Bullying and psychological harassment (sometimes known as "mobbing") are two prominent sources of work-related stress that pose health concerns to employees. They've been linked to both psychological and physical issues.   Further below are few more courses for work related stress, Inadequate health and safety policies. Poor communication and management practices; Low levels of support for employees. Inflexible working hours. Unclear tasks or organizational objecti...

  Embracing the Gig Economy   What is Gig Economy? Gig economy is a free market system where organizations and independent workers engage in short-term work arrangements where people earn income providing on-demand work, services or goods,” often through an app or website. For example, Freelancers Consultants Independent contractors and professionals Temps (temporary contract workers) Figure 1 : Examples of Gig Economy Freelancers, Consultants and temp workers have been around for a long time, so the gig economy isn't a new concept. The gig economy has been scrutinized for the past few years because technology has reduced entry barriers to such an extent that "gigs" have been accessible to an unprecedented number of people. Same time, with the disturbances caused by the pandemic, more and more full-time workers are now turning to gig opportunities  ( Challenging Horizon, 2022 ). Figure  2  : Reasons for working in a GIG Economy What Impact Will th...