4_1 - Management Science I Dr T J Kamalanabhan Indian Institute of Technology Madras MODULE 4 HRM in the Next Millennium Content • Introduction

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Unformatted text preview: Management Science I Dr. T. J. Kamalanabhan Indian Institute of Technology Madras MODULE 4 HRM in the Next Millennium Content • Introduction • Dynamics • Challenges • Conclusion Introduction • Roles and responsibilities of HR professional continue to evolve over time – From Personnel Management to Human Resource Management (HRM) – Gaining momentum as Human Capital Management • Evolutionary changes driven by multitude of factors both internal and external of organisations • Emphasis today is to create value • Recognise HR as strategic asset for organisation • Human competence is engine behind the creation of the value • Every business exists in a given environment provides opportunities and challenges - it provides resources to capitalise Management Science I Dr. T. J. Kamalanabhan Indian Institute of Technology Madras • Leaders establish vision, develop strategic intents and imperatives • Strategy defines the path the organisation takes • Assumes certain organisational capabilities – requires very special talent and competencies – this is vertical link - people and business – integration of different horizontal facets and initiatives of HR that will provide value Dynamics • Integration includes - employee relations, compensation and benefits, organisational development, performance management, human resource development, manpower planning and procurement, and labour-management relations • Every HR process, tool, or technology should leverage talent to realise orgn vision, horizontally with each other • Have implications to other HR facets - e.g. compensation and benefits cannot be created without being very clear about implications upon Employee Relations in total • Dynamics of HR are changing - locally and globally Management Science I Dr. T. J. Kamalanabhan Indian Institute of Technology Madras Challenges • In the new emerging competitive landscape, new competitive realities to be addressed by HR appear to be impacted by the following challenges (11): • Changes on the definition of an industry • Tenure of the industry leaders being shorter • Global competition being pervasive • Administrative versus Strategic • Business Partner or Player • HR Departments • Doing HR work • Metaphors for HR professionals • Remote and Flexible Work practices • Aggressiveness of HR • “The Hub” – integrated single point of contact – reshape boundaries – human capital management & maximisation Management Science I Dr. T. J. Kamalanabhan Indian Institute of Technology Madras – education programme – economic challenges - MSC, AFTA – tall pyramids - short pyramids - shadow pyramids with mergers, acquisitions • Changes in the definition of an industry − New market dynamics driven by the combined impact of globalisation, deregulation, technological convergence and customer militancy are altering structure , boundaries and definition of many industries − With E-Commerce - how will traditional Financial Service Sectors and...
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This note was uploaded on 01/20/2012 for the course MANAGEMENT 1 taught by Professor Prof.m.thenmozhi during the Fall '11 term at Indian Institute of Technology, Chennai.

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4_1 - Management Science I Dr T J Kamalanabhan Indian Institute of Technology Madras MODULE 4 HRM in the Next Millennium Content • Introduction

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