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Current Trends in HR:
A New Perspective
Presented by
Gurudatt Somayaji
&
Likith Raj
II Year MBA
JKSHIM-NITTE
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Current Trends
Rising cost ofbenefits,especially
health care
Competitivepressure onincreasingemployee
wages
RisingCompensation
Costs
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Current Trends
DevelopingHumanCapital
Managingtalent
LaborShortages
HigherEthical
Standards
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Current Trends
A move toward
single software
platforms
Use oftechnology tocommunicate
with employees
Evolution of newtechnologies
Harnessing New Technology
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Current Trends
ManagingtheChanging
Workforce
Increaseddiversity in the
workforce
Work-lifebalance
Increasedvulnerability of
intellectualproperty
Changing workpatterns 24/7availability, etc.
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Rising Compensation Costs
Rising cost of benefits, especially health care
Health care costs for most employers is expected to be
around 7%, a moderate increase compared to previous
years
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Employer Responses
Focus on changing employee behaviors
Wellness programs
Smoking cessation efforts
Education of employees on health care options
and associated costs
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Employer Responses
On-site medical clinics are growing in popularity
Large companies staff clinics with own employeeswhile smaller firms contract out to nearby clinics
Help provide primary care to workers at low or nocost
On-site clinics lessen time employees spend awayfrom work.
On-site clinics expanding to include rehab services,dentistry, X-ray and lab work
Forms inviting specialists to come on-site and offertheir services.
Clinics moving into more active management ofworkers' health conditions
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Employer Responses
Putting health care into employees hands
As health insurance costs continue to rise,
employers are adopting a controversial new
approach: ending group coverage and giving
employees $50 to $200 or so a month to help buy
their own health care in the U.S.
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Key Drivers of Success
Better communication of performance standards with alllevels of the organization
Clearly Specify Incentive Measures
Organizational measures: service quality
teamwork
income growth
cost savings
Individual measures: based on established performance goals within
individual areas of responsibility
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Current Trends
Developing Human Capital
Managing talent recruitment, development, andretention of the best workers
Employers need to find innovative ways to brandthemselves, setting them apart from competitors andbecoming an employer of choice
As talent becomes scarce, development of currentemployees for promotional opportunities
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Developing Human Capital
Labor shortage finding the right talent
Statistic: By 2020, gap between available and requiredskilled workers is projected to be 14 million
Use of e-recruiting and non-traditional labor pools
Establishing selection system geared to retention: betterskills assessment, knowledge, and fit for jobs
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Developing Human Capital
Higher ethical standards
Greater focus on trust and integrity at all levels
Regulatory compliance issues
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Continued
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Current Trends
Harnessing New Technology
Use of technology to communicate with employees
Company intranets
E-Newsletters
Company emails
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Harnessing New Technology
A move toward single software platforms
Integrated HRIS
PeopleSoft
SAP
Oracle
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Harnessing New Technology
Perhaps most significant development is the use of
organizational intranets
An intranet is internal network that makes use of WorldWide Web technology (browsers, servers, etc.) to gather
and disseminate information within the firm
Intranets may be linked to the external Internet, but aresecured so that only authorized users can access
information on internal components
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Harnessing New Technology
Evolution of new technologies
Employee Self-Service and Data Exchange
Capability to maintain personal data
View context-specific information
Initiate benefits transactions
Internet-based tools are quickly becoming the preferred method foremployees to execute benefits transactions
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Current Trends
Managing the Changing Workforce
Increased diversity in the workforce
Creating workplace that respects and includes differences
Recognizing unique contributions individuals with
differences can make
Creating work environment that maximizes potential of allemployees
i h h i kf
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Managing the Changing Workforce
Work-life balance
Employees experiencing burnout due to overwork and
increased stress in nearly all occupations Rise in workplace violence, increase in levels of
absenteeism as well as rising workers compensationclaims
Causes range from personal ambition and the pressureof family obligations to the accelerating pace oftechnology
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Work-LifeBalance
According to study by Center for Work-Life Policy, 1.7 million people
consider their jobs and work hours excessive
50% of top corporate executives leaving current positions
64% of workers feel work pressures are self-inflicted, and taking a
toll
In the US, 70%, and globally, 81%, say jobs are affecting their health.
Between 46% and 59% of workers feel stress is affecting their
interpersonal and sexual relationships.
Males feel there is stigma associated with saying Icant do this
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Managing the Changing Workforce
Structural shift from the manufacturing to theservice sector
Growth in part-time employment
Rising prominence of women in the workforce
Growing importance of temporary employment andself employment
Adoption of flexible working practices, such as job
sharing and the increasing opportunity to work from
home.
l
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Conclusions
Exciting time for HR professionals
More emphasis on cost containment and control
Focus on employee responsibility and
involvement at work
Greater use of technology in communication with
employees
More flexible patterns of work
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