role_of_hr_in_emerging_economies

8/7/2019 ROLE_OF_HR_IN_EMERGING_ECONOMIES

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ROLE OF HR IN EMERGING

ECONOMIES



EMERGING ECONOMY

³Emerging Economies´ first appeared

some 25 years ago as a means of

distinguishing third-world countries thatexhibit economic potential

Useful destination for investors

High Returns on Investment



HR Requirement

HR Professionals need to hire, train andretain workers

They need workers who can get jobsdone.

Long-range planning requires a bifocalview on human capital

The right standards and measures tomatch workforce strengths with their organizations¶ requirements



HR Perspective

Emerging economies feature growing

numbers of workers

Ability to function effectively Sustained growth in the knowledge, skills

and abilities



3 Stages of Development

Stage 1 :Countries feature predominatelyyoung, trainable workers and low labor costs

Stage 2 : Countries supplement theworkforce toward value-added applications

Stage 3 :Countries have a sizable

contingent of workers with developedspecialty knowledge in a variety of industries



STAGE 1

Influx of young people

Cheap Work Force

The pace of academic and work-

experience growth



STAGE 2

Leverage in prior experience

Value-added applications

Structured Process

High Returns start



STAGE 3

Concrete and Structured Workforce

Organized Set up

Exponential Economic Growth

Continous growth of new talent

Improvement in technology and health

care



Educational Attainment

People age 25 and older with a post-

secondary education.

Population grows and gets workexperience

More people with a base level of

knowledge to support the knowledge

economy.



Foreign Direct Investment

Creates a starting point for gauging the

volume of other organizations

Growing Market Economy Larger investment

Professional Expertise

Workforce has more opportunities



HR Imperatives

Global Mindset

Proactive Response

Cultural Adaptability

Strategic Approach

Motivational Attitude



HR is a strategic function and no more a

supportive department. The role of

managers have become ever complex and

to manage these functions organisations

need to select the right set of people with

the modern attitude and the latest

knowledge



Changing Role of HR

Not just lip service

Broaden their skill set

To make measurable contribution tobottom line.

Change management.

Emphasis on HR performance metrics.



The war for talent

Employer branding & USP with a strongdifferentiator are imperative

Nurturing relationship with strong

candidates even though no jobs for themare currently available.

Training to handle rejection process

effectively ongoing recruiting not stop-start



Outsourcing of HR functions:

the virtual HR organization Cost reduction

Strategic focus

Better regulatory compliance. Access to best technologies

Time efficient.



Talent Management:

Leadership development Action learning.

Competency based processes.

More emphasis on T&D



Corporate values and culture.

Branding.

Engagement.

CSR

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