VSRD International Journal of Business and Management Research, Vol. 2 No.

12, December 2012 / 612

ISSN No. 2231-248X (Online), 2319-2194 (Print) VSRD International Journals : www.vsrdjournals.com

RESEARCH COMMUNICATION
FUTURE TRENDS IN HUMAN RESOURCE MANAGEMENT
Shilpika Pandey
Assistant Professor, MBA Department,
Ambalika Institute of Management & Technology, Lucknow, Uttar Pradesh, INDIA.
Corresponding Author : shilpika30@gmail.com

ABSTRACT
Human Resource Management is a process which brings people & organization together to meet the organizational goal. But over the past
years, Human Resource Management has evolved considerably and experienced a major transformation in form and functions. Driven by a
number of significant internal and external environmental forces, HRM has progressed from a largely maintenance function, with little if
any bottom line impact, to what many scholars and practitioners today regard as the source of sustained competitive advantage for
organizations operating in a global economy.
If we go to previous era most of the enterprises had ad hoc management practices where the managers were the owners. The administrative
systems that exist today in the civil services were inherited from the British colonial period. In 1974, the Ethiopian regime nationalized all
private firms and hierarchical management practice was implemented with the establishment of personnel management departments.
The paper will raise the relevant issues in detail regarding the current employment practices (human resource management) in the selected
organizations. In this section, we would like to pay attention to some factors that are more likely to challenge managers in general, and the
government in particular, in the future with regard to HRM. Firstly, the impacts of brain drain privatization and globalization. Secondly, the
role of Human Resource is changing from that of a protector & screener to the role of planner & change agents. Thirdly, the changing
demography of the workforce and their expectation from the organization they are associated. We believe that to succeed in the years up to
2020, executives will need to master a range of hard and soft skills for which they will require the confidence to manage multi-generational
teams.
Well said by David Ulrich HR should not be defined by what it does but by what it delivers.
Keywords : Future Trends in HRM, Brain Drain, Globalization, Privatization, Change Champion, Employee Advocate, Changes in
HRM, Strategic Partners, Generation X and Y.

1. INTRODUCTION
Human resource (or personnel) management is the sense of
getting things done through people. It's an essential part of
every manager's responsibilities, but many organizations
find it advantageous to establish a specialist division to
provide an expert service dedicated to ensuring that the
human resource function is performed efficiently.
"People are our most valuable asset" .The reality for many
organizations is that their people remain:
Under valued
Under trained
Under utilized
Poorly motivated, and consequently
Perform well below their true capability
The rate of change facing organizations has never been
greater and organizations must absorb and manage change
at a much faster rate than in the past. In order to implement
a successful business strategy to face this challenge,
organizations, large or small, must ensure that they have the
right people capable of delivering the strategy.
The market place for talented, skilled people is competitive
and expensive. Taking on new staff can be disruptive to
existing employees. Also, it takes time to develop 'cultural
awareness', product/ process/ organization knowledge and
experience for new staff members.
As organizations vary in size, aims, functions, complexity,
construction, the physical nature of their product, and
appeal as employers, so do the contributions of human
resource management. But, in most the ultimate aim of the
function is to: "ensure that at all times the business is
correctly staffed by the right number of people with the
skills relevant to the business needs", that is, neither
overstaffed nor understaffed in total or in respect of any one
discipline or work grade.
Human Resource Management is a process which brings
people & organization together to meet the organizational
Shilpika Pandey VSRDIJBMR, Vol. II (XII), 2012 / 613


goal. But over the past years, Human Resource
Management has evolved considerably and experienced a
major transformation in form and functions. Driven by a
number of significant internal and external environmental
forces, HRMhas progressed from a largely maintenance
function, with little if any bottom line impact, to what many
scholars and practitioners today regard as the source of
sustained competitive advantage for organizations operating
in a global economy.
2. CHANGES IN HRM
Some of the significant changes that are likely to take place
in the human resource management are as follows:
Increase in education levels : Due to technological
progress and the spread of educational institutions workers
will increasingly become aware of their higher level needs;
managers will have to evolve appropriate policies and
techniques to motivate the knowledge of workers. Better
educated and organized workforce will demand greater
discretion and autonomy at the work place.
Technological Developments: This will require retraining
and mid-career training of both workers and managers. Rise
of the international corporation is proving new challenges
for personnel function.
Changing Composition of Work Force: In future, women
and minority groups, SCs and STs would become an
important source of man power in future on account of easy
access to better educational and employment opportunities.
Therefore manpower planning of every organization will
have to take into consideration the potential availability of
talent in these groups. Changing mix of the workforce will
lead to new values in organizations.
Increasing Government Role: In India, personnel
management has become much legalized. In future private
organizations will have to co-ordinate their labour welfare
programmes with those of the government private sector
will be required increasingly to support government efforts
for improving public health, education training and
development and infrastructure.
Occupational Health And Safety: Due to legislative
presence and trade union movement, personnel
management will have to be more healthy and safety
conscious in future.
Organizational Development : in future, change will have
to be initiated and managed to improve organizational
effectiveness. Top management will become more actively
involved in the development of human resources.
New Work Ethic : greater forces will be on project and
team forms of organization. As changing work ethic
requires increasing emphasis on individual. Jobs will have
to redesign to provide challenge.
Development Planning: personnel management will be
involved increasingly in organizational planning, structure,
composition etc. Greater cost-consciousness and profit-
orientations will be required on the part of the personnel
department.
Better Appraisal and Reward Systems: organizations will
be required to share gains of higher periodicity with
workers more objective and result oriented systems of
performance, appraisal and performance linked
compensation will have to be developed.
New Personnel Policies: new and better polices will be
required for the work force of the future. Traditional family
management will give way to professional management
with greater forces on human dignity.
3. OBJECTIVE OF RESEARCH
To study the impacts of brain drain privatization and
globalization.
To study the role of Human Resource, that is changing
from that of a protector & screener to the role of
planner & change agents.
To analyze the changing demography of the workforce
and their expectation from the organization they are
associated.
We believe that to succeed in the years up to 2020,
executives will need to master a range of hard and soft
skills for which they will require the confidence to manage
multi-generational teams.
4. BRAIN DRAIN, PRIVATIZATION AND
GLOBALIZATION
Many countries today are experiencing what is widely
termed brain drain. Brain drain, or the loss of talented
professionals from smaller to larger economies, affects not
only countries, but also the organizations within them and
the occupations they support.
Brain drain is thereby damaging to a range of groups who
share a common interest in finding ways to retain and
reattract skilled employees. That need is logically sharpest
of all for those professions whose workers are the most
mobile. In accountancy, for example, mobility is facilitated
by the universality of its qualifications, language, and
standards. Not surprisingly then, accountants as a
profession has been reported to have relatively low levels of
organizational commitment to particular employing firms.
That finding is important because organizational
commitment may be a key incentive to remain with a firm,
either by never leaving it in the first place or by returning to
it after periods spent working overseas .This study explores
whether Human Resource Management (HRM) theory, and
in particular HRM theory that focuses on building
organizational commitment, can be adapted to help redress
brain drains in accountancy.
Shilpika Pandey VSRDIJBMR, Vol. II (XII), 2012 / 614


The globalization of labour markets has impacted
significantly on worker mobility, with the greatest impact
being on professionals who engage in knowledge work This
enhanced mobility affects nations, firms, and occupations
alike, which all must struggle to retain a reasonable share of
the worlds professional talent .Given that shared goal, it is
reasonable to expect that theories and research in one
domain may be able to assist measures to counteract brain
drain in another. Hence, the dynamics of brain drain for
nations may not be radically different from the processes of
turnover for organizations.
Privatizationis the incidence or process of transferring
ownership of a business, enterprise, agency or public
service from the public sector (government) to the private
sector ("business"). In a broader sense, privatization refers
to transfer of any government function to the private sector
- including governmental functions like revenue collection
and law enforcement.
The term "privatization" also has been used to describe two
unrelated transactions. The first is a buyout, by the majority
owner, of all shares of a public corporation or holding
company's stock, privatizing a publicly traded stock, and
often described as private equity. The second is a
demutualization of a mutual organization or cooperative to
form a joint stock company.
The pressures on traditional IR models are not all due to
privatization & globalization, as we see, but many of the
changes taking place can be traced to globalization. It is not
always easy to disentangle the causes and effects of
globalization. However, it would probably be true to say
that globalization is represented by the opening up of
markets due, in large measure, to foreign direct investment
consequent upon the lowering of investment barriers in
practically all countries; by the liberalization of trade, and
by the deregulation of financial markets in consequence of
which governments increasingly have little control over the
flow of capital across borders. All this implies the
dominance of the market system, facilitated by the collapse
of alternative economic (and in many cases political)
systems.
Among the responses of employers are the following:
Moving production overseas to reduce costs and to
facilitate sensitivity to local and regional market
requirements.
Contracting out and out-sourcing. It is an important
rationale of out-sourcing that it, on the one hand,
enables an enterprise to concentrate on its core
competencies, and on the other hand, it makes service
work more productive.
One important response has been the introduction of
flexibility in the employment relationship to increase
the capacity of enterprises to adapt rapidly to market
changes.
This has involved measures such as flexible working hours
part-time work different types of employment contracts to
the standard ones familiar to collective IR flexibility in
functions, so that employees who are multi-skilled are not
confined to the performance of only one task. They can
cover up for absenteeism, and make some jobs redundant.
Globalization has, through technology diffusion,
substantially increased the introduction of new technology.
This, as well as the need for flexible adaptation to market
changes, has led to the re-organization of production
systems and methods of work, such as the following:
Reduction of narrow job classifications and
demarcation lines between managers and workers,
accompanied by skills enhancement needed to perform
jobs with a broader range of tasks.
Increasing areas for worker involvement in the
conception, execution and control of work.
A greater focus on workplace relations and policies and
practices conducive to better motivation and
performance such as information-sharing and two-way
communication.
These responses have increased the necessity for
employers to make more investments in skills training,
to offer incentives to employees to improve their skills,
and for workers to take upon themselves some
responsibility for their own development.
The competition generated by globalization and rapid
technological changes accompanied by shorter product life
have, while destroying countless jobs in industrialized
countries, created opportunities for multi-skilled and easily
trainable workers, and for the most significant group of
emerging employees - the knowledge worker.
Knowledge and skills have become the most important
determinants of investment, employment opportunities,
productivity and quality and of flexibility. Other changes in
the nature of work and workers are being brought about
partly by globalization, but not entirely because of it. For
instance, it is arguable whether globalization is solely
responsible for the growing service sector, and it does not
account for the rapid influx of women into the workforce.
Be that as it may, some of the changes which have a
fundamental impact on traditional IR include the following:
The expanding service sector at the expense of the
manufacturing sector in industrialized and rapidly
industrializing countries
More advanced and skilled workforces
The rapid influx into the workforce of women who
will, in some countries, occupy more than half the
emerging jobs an increasing number of people who
will not be working in an organization, though they
will be working for an organization .
The decreasing number of people working under
'permanent' contracts of employment, and the
proliferation of other types of work arrangements such
as part-time and temporary work, home work and
contract work. Thus traditional IR has been challenged
Shilpika Pandey VSRDIJBMR, Vol. II (XII), 2012 / 615


to accommodate different types of employment
contracts, and different types of pay systems to reward
performance and skills.
5. CHANGING ROLE OF HUMANRESOURCE
The role of the HR professional is changing. In the past, HR
managers were often viewed as the systematizing, policing
arm of executive management. Their role was more closely
aligned with personnel and administration functions that
were viewed by the organization as paperwork.
When you consider that the initial HR function, in many
companies, comes out of the administration or finance
department because hiring employees, paying employees,
and dealing with benefits were the organization's first HR
needs, this is not surprising.
In this role, the HR professional served executive agendas
well, but was frequently viewed as a road block by much of
the rest of the organization. While some need for this role
occasionally remains you wouldnt want every manager
putting his own spin on a sexual harassment policy, as an
example:-Some industry commentators call the Human
Resources function the last bastion of bureaucracy.
Traditionally, the role of the Human Resource professional
in many organizations has been to serve as the
systematizing, policing arm of executive management.
In this role, the HR professional served executive agendas
well, but was frequently viewed as a road block by much of
the rest of the organization. While some need for this role
occasionally remains you wouldnt want every manager
putting his own spin on a sexual harassment policy, as an
example much of the HR role is transforming itself.
The role of the HR manager must parallel the needs of his
or her changing organization. Successful organizations are
becoming more adaptive, resilient, quick to change
direction and customer-cantered. Within this environment,
the HR professional, who is considered necessary by line
managers, is a strategic partner, an employee sponsor or
advocate and a change mentor.
6. STRATEGIC PARTNER
In todays organizations, to guarantee their viability and
ability to contribute, HR managers need to think of
themselves as strategic partners.
In this role, the HR person contributes to the development
of and the accomplishment of the organization-wide
business plan and objectives. The HR business objectives
are established to support the attainment of the overall
strategic business plan and objectives. The tactical HR
representative is deeply knowledgeable about the design of
work systems in which people succeed and contribute. This
strategic partnership impacts HR services such as the design
of work positions; hiring; reward, recognition and strategic
pay; performance development and appraisal systems;
career and succession planning; and employee
development.
7. EMPLOYEE ADVOCATE
As an employee sponsor or advocate, the HR manager plays
an integral role in organizational success via his knowledge
about and advocacy of people. This advocacy includes
expertise in how to create a work environment in which
people will choose to be motivated, contributing, and
happy.
Fostering effective methods of goal setting, communication
and empowerment through responsibility, builds employee
ownership of the organization. The HR professional helps
establish the organizational culture and climate in which
people have the competency, concern and commitment to
serve customers well.
In this role, the HR manager provides employee
development opportunities, employee assistance programs,
gain sharing and profit-sharing strategies, organization
development interventions, due process approaches to
problem solving and regularly scheduled communication
opportunities.
8. CHANGE CHAMPION
The constant evaluation of the effectiveness of the
organization results in the need for the HR professional to
frequently champion change. Both knowledge about and the
ability to execute successful change strategies make the HR
professional exceptionally valued. Knowing how to link
change to the strategic needs of the organization will
minimize employee dissatisfaction and resistance to
change.
The HR professional contributes to the organization by
constantly assessing the effectiveness of the HR function.
He also sponsors change in other departments and in work
practices. To promote the overall success of his
organization, he champions the identification of the
organizational mission, vision, values, goals and action
plans.
Establish, direct, administerandcoordinate theoverall
HRPROGRAMSforallthedepartmentsofthe Company.
Strategically plan for, develop and efficiently /
effectively operate the services and capabilities of the
company, in alignment with the corporate objectives /
strategies.
As a broad guideline, the HR provides services to the
organization/other departments/ overseas counterparts.
To varying degrees, HR MANAGERS provide
guidance to the organization management, other
departments/ overseas counterparts.
HR managers provide advice to line managers, and
managementin general to other departments/ overseas
counterparts.
Shilpika Pandey VSRDIJBMR, Vol. II (XII), 2012 / 616


Share responsibility with their line management for the
success of the business and the running of the business.
Contribute to the long term / strategic organizational
issues likepeople selection, people requirement, people
development, organization development, quality of
work life.
Proactively contributes to the change management,
people
management, team development, new technology
introductionetc.
Acts as a management consultant on HR ISSUES
working along side the line managers.
Monitors the implementation of HR policies /
procedures.
HR managers will have to accommodate employees in their
virtual work locations and find ways to manage corporate
culture, socialization and employee orientation. In order to
obtain and maintain a competent workforce, they must act
as organizational performance experts and shape employees
behavior without face to face meetings.
9. CHANGING DEMOGRAPHY OF THE
WORKFORCE
With the advent of globalization and liberalization, the
industries are facing the challenges of diverse workforce
along with the changing demography. Gone are the days,
when only men of age between 30-60yrs. were found in
organization holding responsible positions. The current and
future Human Resource dictates a very big group of
workforce with difference in age, gender, culture and values
and beliefs. Now are the days where youth has captured the
seats of senior level managers in the companies and
carrying out responsibilities of the company on their
shoulders. The day will come when the industries will be
facing tough competition between the young-energetic
blood and white haired experienced personnel, between
mens power and womens sincerity & dedication or
between innovative minds and old age experienced heads.
This change has made the role of Human Resource
Manager becomes more challenging with the increasing
diversity in workforce, as he has tohandle them differently
treating them as separate individuals, whether it may be
young executives, women or senior persons in company.
The years to 2020 promise significant change for managers
and executives. Most will need to master new skills to
address the emerging challenges. Successful executives will
be those who can effectively manage three generations in
the workplace, create more flexible working environments,
optimize individual and team performance, balance
stakeholder interests and build and maintain their personal
expertise.
The bar for success in management continues to rise.
Managers and executives will need to maintain their skills
of the last decade and to master the additional tools and
techniques of the next. To do this, they will require new
types of executive education that provide strong general
management skills, including interpersonal and intercultural
skills, as well as industry and functional training to develop
specialist expertise in their fields.
The workplace will increasingly focus on the performance
of people as a core company asset. Models of flexible
working will continue to evolve in response to the changing
needs of Baby Boomers and the preferences of Generation
Y. Greater attention will be given to measuring the
performance of people, not just physical and financial
assets, and also to developing new techniques for
improving performance. Problem solving and creativity
skills will become increasingly important.
The coming decade or so will bring with it a significant
generational shift in the labour market. For the last few
decades, the Baby Boomers have been the dominant group
in the workforce. Over the next 15 years, although a large
part of this group will reach or pass retirement age, many
will choose not to retire in the traditional sense. Generation
X will have moved forward into management roles, and
Generation Y will be an increasingly important group in the
workforce. Australia is likely to experience a period of
prolonged skill shortage. The challenge for managers is that
the three generations working together in the next decades
will exhibit marked differences from each other. In a skills-
focused and skills-short economy, success will require to
a greater extent than ever before the ability to manage
across generations.

Traditionalists Baby Boomers Generation X Millennial
Work Style
By the book - "how" is as
important as "what" gets
done
Get it done - whatever it
takes - nights and
weekends
Find the fastest route to
results; protocol
secondary
Work to deadlines - not
necessarily to schedules
Authority/
Leadership
Command/control; rarely
question authority
Respect for power and
accomplishment
Rules are flexible;
collaboration is
important
Value autonomy; less
inclined to pursue formal
leadership positions
Communication
Formal and through proper
channels
Somewhat formal and
through structured
network
Casual and direct;
sometimes skeptical
Casual and direct; eager
to please
Recognition/
Reward
Personal acknowledgement
and compensation for work
well done
Public acknowledgement
and career advancement
A balance of fair
compensation and
ample time off as
Individual and public
praise (exposure);
opportunity for
Shilpika Pandey VSRDIJBMR, Vol. II (XII), 2012 / 617


reward broadening skills
Work/Family
Work and family should be
kept separate
Work comes first Value work/life balance
Value blending personal
life into work
Loyalty To the organization
To the importance and
meaning of work
To individual career
goals
To the people involved
with the project
Technology "If it ain't broke, don't fix it" Necessary for progress
Practical tools for
getting things done
What else is there?

The New Retirement : Over the last 30 to 40 years, the
average Indians expectation of working life has shortened.
A decade ago, many would have hoped for, or even
assumed retirement at 55 or soon after. However, in
practice older workers are now working longer than in the
past. Many neither wants, nor is financially prepared to
retire at 55, 60 or even 65. Indeed, many will have longer
careers than their parents, contrary to all expectations. As a
result, we are witnessing a new shape to the careers of
older workers. For businesses competing for skills, there is
clear value in retaining capable and experienced staff for
longer and in smoothing management transitions. As the
Boomer bulge continues to represent a very large group of
customers, companies may also benefit from ensuring the
profile of their frontline staff broadly aligns with that of
their customer base.
Creating a Path for Generation X : Generation X is the
first generation in modern times to manage their own
careers. Its members tend to move frequently between
employers and also markets in the interests of developing
their careers. This is the generation most often described as
materialistic and transitionally motivated, a characteristic
that has contributed to the steadily rising numbers of long
term departures from India, as people move abroad to
advance their careers Generation X workers present both
opportunities and challenges to the executive. On the one
hand, this cohort boasts a significant cadre of high caliber
individuals with good international experience. Compared
to previous generations, it is less sexist, more technically
literate, and more inclined towards team work and a
collegiate approach. On the other hand, this is a generation
that has repeatedly demonstrated its willingness to vote
with its feet. In a period of prolonged labour shortage over
the next 15 years, this group will become a key talent pool
from which to draw senior staff. Executives wanting to
retain this generation will need to work hard to do so by
addressing some critical issues.
Preparing for the Next Generation: The Ys : The
children of the Boomers are Generation Y. They are an
increasingly distinct group from Generation X and share
some attributes with their own parents. Generation X
directly witnessed the job losses and insecurity of structural
reform in the 1980s and the substantial recession of the
early 1990s. While Generation Y has grown up in a period
of prolonged and relatively undisturbed economic growth.
Heavily influenced by the internet boom, members of
Generation Y often have entrepreneurial ambitions, are
passionate about social and environmental causes, and seek
to strike a balance between their working and private lives.
This group also tends to demand an ethical management
approach and to promote a corporate agenda that looks
beyond value creation for shareholders.
Within the workplace, Generation Y does tend, at least to
date, to be high churn employees. They choose to leave
jobs not to further their careers elsewhere but to take up
voluntary work, downshift their lifestyles, or continue
their studies. Whether these attitudes change over time
remains to be seen. However, managers will need to
consider the changes required in the workplace to hold and
inspire these workers.
The next fifteen years will see three very different
generations side by side in the workforce. Each of these
generations brings a different outlook on life and a different
set of needs. None fits readily into traditional working
arrangements. We are already seeing shifts in employment
practices in response to changing needs. This cross-
generational management challenge will intensify during a
period of structural labour shortage, as skilled people have
an increasing say in the way their workplaces operate.
Going forward, executives will need to develop practices
and arrangements that meet a much more complex and
diverse set of needs and preferences than that faced by their
predecessors.
Increased participation by women in the workplace over the
last ten years directly correlates with an increase in part-
time positions and flexible working hours. In the coming
decades, the ability to provide flexible job structures and
workplace conditions will be critical to attracting and
retaining a demographically diverse talent pool. Companies
and executives able to accommodate the specific needs of
different sectors of the labour force will enjoy a significant
advantage in recruiting and retaining staff.
Managing a more flexible workplace will not be easy.
Simple, traditional methods usually employed by
executives, including managing by walking around or
gathering the team together round a table, may no longer be
sufficient.
If there is cause for disappointment in the last decade it has
been the lack of progress of women into executive ranks.
Many believed that removing the most obvious institutional
barriers to womens success in the corporate world would
result in their accession into management and, over time, a
gender mix in the executive ranks to match the general
Shilpika Pandey VSRDIJBMR, Vol. II (XII), 2012 / 618


population. This has not happened. Instead, it is clear that
the roadblocks in womens career paths are more diverse
and subtle than previously understood.
The lack of progress for women can be attributed to two
main factors:
The lack of flexibility in management roles and job
structures makes them unattractive or unavailable to
women with children or other family responsibilities;
an
The failure to actively identify, mentor and bring
through promising women candidates means they may
miss out on opportunities to develop their talents
further.
The last decade has produced little progress in the
status of women in the corporate workplace. Missing
targets by so much should not be acceptable to
executives. Over the next decade or so, successful
executives will take on the personal challenge of
bringing talented women into management ranks and
keeping them there. This is likely to involve the
acceptance of more flexible working arrangements and
the development of the skills needed to mentor and
develop talented women. Executives and companies
will be increasingly measured on their success in
retaining and promoting women.
Workforce diversity should be seen in terms of age, gender.
Race, ethnic composition, religion and nationality.
Successful 21st century corporations no longer view
diversity as a problematic issue. They view diversity as an
opportunity that can be utilized to compete more effectively
in the local and global markets.
Managing diversity means aiming for a 'heterogeneous
workforce' that is capable of achieving its potential in a
non-discriminatory, fair and just work environment.
What are the reasons for diversity being considered as an
important activity in managing the human resources? The
following 5 reasons as to why diversity has become an
important activity:
Shift from manufacturing to a service economy
Globalization
Innovative business strategies that demands teamwork
Mergers and Alliances
Changing labor market conditions
Some of the recent trends that are being observed are as
follows:
The recent quality management standards ISO 9001
and ISO 9004 of 2000 focus more on people centric
organizations. Organizations now need to prepare
themselves in order to address people cantered issues
with commitment from the top management, with
renewed thrust on HR issues, more particularly on
training.
Charles Handy also advocated future organizational
models like Shamrock, Federal and Triple I. Such
organizational models also refocus on people centric
issues and call for redefining the future role of HR
professionals.
To leapfrog ahead of competition in this world of
uncertainty, organizations have introduced six- sigma
practices. Six- sigma uses rigorous analytical tools
with leadership from the top and develops a method for
sustainable improvement. These practices improve
organizational values and helps in creating defect free
product or services at minimum cost.
Human resource outsourcing is a new accession that
makes a traditional HR department redundant in an
organization. Exult, the international pioneer in HR
BPO already roped in Bank of America, international
players BP Amoco & over the years plan to spread
their business to most of the Fortune 500 companies.
With the increase of global job mobility, recruiting
competent people is also increasingly becoming
difficult, especially in India. Therefore by creating an
enabling culture, organizations are also required to
work out a retention strategy for the existing skilled
manpower.
10. CONCLUSION
The years to 2020 promise significant change for managers
and executives. Most will need to master new skills to
address the emerging challenges. Successful executives will
be those who can effectively manage three generations in
the workplace, create more flexible working environments,
optimize individual and team performance, balance
stakeholder interests and build and maintain their personal
expertise.
The bar for success in management continues to rise.
Managers and executives will need to maintain their skills
of the last decade and to master the additional tools and
techniques of the next. To do this, they will require new
types of executive education that provide strong general
management skills, including interpersonal and Intercultural
skills, as well as industry and functional training to develop
specialist expertise in their fields.
11. REFERENCES
[1] www.chillibreeze.com/articles_various/human-
resources.asp
[2] rru.worldbank.org/Public Policy Journal/Privatization-Impact
[3] AMR Research, 2006: The Human Capital Management
Applications Report,
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