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How to become an HR Specialist in 2024?
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Introduction Are you someone who loves working with people on a day-to-day basis? Do you enjoy the process of being alongside people and making sure that they are giving their absolute best? If this sounds like you, you should look forward to becoming an HR. The question, however, is how to become HR? When you aspire to be an HR, you must be ready to welcome challenges. One of the very prominent challenges that HR faces is competition from other employers. Over 43% of HR managers have stated the reason mentioned above as the root cause of their struggle to hire employees. In addition, over 36% of HR specialists feel the lack of technology hinders onboarding programs as they are unable to automate the processes.  HR specialists are a highly crucial part of any organization. As an HR specialist, one can add value and help grow the company’s organizational culture. In 2024, if you want to become an HR, there is a lot you should know, including their role, responsibilities, and tasks they commit to daily. Keep reading to learn everything about how to become a human resource manager. Who is a Human Resource Specialist? An HR or a Human Resource Specialist works as a link between an organization and its employees. He/she is mainly responsible for looking after the human resource department and ensuring that everything in the workplace is working as expected. HR specialists are professionals who take care of various duties such as incentivization,  hiring, relationships between employees, etc. To get into this field, you need to pursue a course, training, or full-time education in HR and attain specialization. Mainly, as HR, you must focus on different methods, work principles, and technologies. It will be your job to put in place the strategies that help in maintaining and establishing what is needed. Some of the key focus areas in Human Resources are:  Compensation Benefits Employee Relations Recruiting Staffing Development of Organization Educational Requirements and Qualifications of an HR Specialist To become an HR Specialist, you need a mix of education and practical experience. Employers seek candidates with a Bachelor’s degree in HR, Business, or related fields. A Master’s degree is valuable for senior roles. Gain hands-on experience through internships or entry-level HR positions. Strong communication, problem-solving, and interpersonal skills are essential. Stay updated with industry trends for success in the HR field. What truly sets you apart is gaining practical experience through internships or starting in entry-level HR roles.  This hands-on experience allows you to showcase your real-world skills and knowledge, proving your ability to thrive in the field. Alongside your education and experience, possessing excellent communication, problem-solving, and interpersonal abilities is crucial. These soft skills are essential for building strong relationships and handling various HR responsibilities effectively. Staying updated with industry trends and advancements is a must to stay competitive and make a meaningful impact in the ever-evolving field of Human Resources. By striking the right balance between education and practical know-how, you’ll be well-prepared to embark on a rewarding journey as an HR Specialist. What is the job of an HR Specialist? This is a question that you must be thinking about, especially after you have figured out how to become HR. As an HR Specialist, you will be responsible for maintaining, managing, and looking after the employee’s details. Moreover, Human Resource managers also play a significant part in boosting engagement and adding to the existing productivity of the company. Employee Retention Programming is also one of the substantial duties of HR. Additionally, HR Specialists back the employees of the organization. Along with managing disputes between employees in the workplace, they also ensure internal growth and development. Below are the everyday-responsibilities of HR specialists: Looking after the hiring process and onboarding candidates who match the requirements.  Recognizing the employment requirement in the workplace by closely working with the supreme leaders of the company/workplace. Taking care of employee benefits, packages, and compensation. Staying connected with candidates and keeping them posted on their application process. Maintaining the legal tasks, paperwork, and employment track records. Establishing training programs to help employees in their professional growth. Recruiting eligible candidates who have the required skills to fit an open position within the organization. What Skills Are Needed to Become an HR Specialist To become an HR Specialist, you’ll need diverse skills. Excellent communication and interpersonal abilities are essential for working with employees and handling sensitive matters. Strong problem-solving skills help in resolving conflicts and finding effective solutions. Attention to detail is crucial for managing HR records and policies. You should be a good listener to understand employees’ needs and concerns. Adaptability allows you to handle various HR challenges and changes in the workplace. Empathy and emotional intelligence help build positive relationships with staff. Additionally, organizational skills are vital for managing HR processes and programs efficiently. HR Software and Tools HR software and tools play a crucial role in modernizing and streamlining human resource management. HR professionals can focus on strategic initiatives and employee engagement by automating mundane tasks, such as tracking applicants and managing payroll. These digital solutions foster transparency and communication within the organization, enabling HR teams to collaborate seamlessly and ensure compliance with regulations. Additionally, the data-driven insights provided by these tools empower HR leaders to identify trends and address workforce challenges effectively. Embracing HR software not only boosts operational efficiency but also cultivates a positive work environment, supporting the company’s growth and success in the long run. Explore our Popular Human Resource Courses Professional Certificate Programme in HR Management and Analytics Executive Post-Graduate Programme in Human Resource Management Strategic Human Resources Leadership Cornell Certificate Program How to become HR?  We have arrived at the most critical question on how to become a human resource manager. As someone looking to build a career in HR, you need to sort out the path you wish to pursue. Thus, depending on your experience level, you can explore options and opportunities that will work best for you and your career. After you have a transparent vision of the factors mentioned above, follow the below steps to proceed further. Step 1: Acquire a Bachelor’s Degree Usually, this is the first step to drafting a career in any field, let alone be in HR. If you aspire and have decided to become an HR Specialist, you should get a Bachelor’s degree in management, psychology, or another matching field. It is the building block that will help you to gain all the necessary skills and construct a ground knowledge about the roles and responsibilities of HR. Step 2: Start with an Internship In addition to your education, you must continue to expand your learning graph through internships. Internships are a great way to learn and help you gain experience before you directly jump to the battleground. Consider local NGOs or organizations and choose to volunteer as an HR. The road to how to become HR starts with an internship. Step 3: Construct your Network Networking is always helpful and especially if you want to pursue a career as a future HR. Start with building your network and slowly accumulate contacts in the same field. Get acquainted with fellow employees working as HR Specialists in their organization. Once you make a strong network, your contacts can hook you up for suitable positions. As a human resource specialist, this will eventually be a part of your job anyway. Therefore, it’s best to start as early as you can. Preparing for an upcoming HR interview? Arm yourself with knowledge by exploring our comprehensive guide on HR interview questions and answers and stand out as a well-prepared candidate. Step 4: Get Professional Experience As soon as you are done with your Bachelor’s, start looking for jobs. Gaining professional experience is a significant factor for HR Specialists, especially if you have long-term goals. Skill yourself and get all the knowledge you need because to be in a high-level position, having experience counts. Step 5: Advance your Career as an HR Specialist You can either choose to get an advanced degree to become a senior-level professional or can consider some certification. Focusing on your personal and professional development is equally important once you land a job as a human resource specialist. These certifications will help you to do better and master your skills. Moreover, you will be up-to-date on the latest HR trends.  HR Career Progression and Advancement Opportunities The field of HR offers a wealth of career progression and advancement opportunities for aspiring professionals. Starting from entry-level positions, such as HR Assistants or Coordinators, individuals can carve their path toward becoming HR Specialists, HR Managers, and ultimately HR Directors or Vice Presidents. Specializing in areas like recruitment, training, compensation, and benefits can lead to higher-level roles with greater responsibilities.  Pursuing HR certifications and advanced degrees can also significantly enhance career prospects and credibility within the industry. In this dynamic and ever-evolving field, networking and gaining diverse experience play a vital role in climbing the HR career ladder. Engaging with industry peers, attending conferences, and participating in workshops can open doors to new possibilities and help professionals stay updated with emerging trends and best practices.  The landscape of HR is continually evolving, presenting exciting prospects for those seeking personal growth and professional success in this rewarding and people-centric domain. With dedication, continuous learning, and a passion for nurturing talent, HR professionals can build fulfilling and impactful careers that make a significant difference in their organizations. Conclusion Currently, there is a dire need in  HR for specialists, and the biggest challenge faced today is to retain and secure talent. However, using the best HR software makes application tracking flexible, but still, half of the employers don’t intend to do so. Human resources is a challenging sector and managing it could be tedious. There are plenty of responsibilities, from hiring to onboarding, that require equal attention. HR software makes things hassle-free and the few best ones to choose from are Workday, Kissflow, and Namely. To take your personal and professional development ahead, you can choose the Executive Post-Graduate Programme in Human Resource Management offered by Loyola Institute of Business Administration (LIBA). As a working professional, you will significantly benefit from this program as you have 8+ case studies and assignments to learn from and several capstone projects to practice.
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by upGrad

22 Aug 2023

Job Analysis in Human Resource Management: Definition, Steps, Process
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Introduction   Job analysis in Human Resource Management (HRM) is very crucial. It involves systematically gathering and analyzing information about job roles and responsibilities within an organization. Job analysis helps develop job descriptions, determine job specifications, set performance standards, and establish training and development programs. In this blog, we will delve into the concept of job analysis, its importance, and the step-by-step process involved. Explore LIBA’s Executive PG Program in HRM to enhance your skills in this field. Process of Job Analysis  A. Defining the Objectives:  Before embarking on a job analysis, it is essential to define the objectives clearly. Determine why the analysis is being conducted, whether it is for staffing, performance management, training, or any other HR function. Identifying the purpose will guide the entire process. B. Preparing for Job Analysis  Preparation is crucial to ensure a practical job analysis. This step involves gathering relevant information such as job descriptions, organizational charts, and employee performance records. Identifying key stakeholders and applying them in the process is also essential. C. Performing the Job Analysis The job analysis begins with data collection. Various methods, such as interviews, questionnaires, observation, and job performance data analysis, can be employed. Job analysis in HRM aims to identify a particular job’s tasks, duties, and responsibilities. It also includes analyzing the skills, qualifications, and competencies required to perform the job effectively. D. Designing Job Descriptions and Job Specifications It creates job descriptions and specifications once the data is collected. A job description provides a comprehensive job overview, including the title, job summary, duties, responsibilities, and reporting relationships. On the other hand, job specifications outline the qualifications, skills, and experience required. E. Controlling Job Descriptions and Job Specifications Job descriptions and specifications should be periodically reviewed and updated to ensure their accuracy and relevance. Changes in the organization, technology, or job requirements may necessitate revisions. Organizations can effectively manage their human resources by maintaining up-to-date job descriptions and specifications. Concepts of Job Analysis  Job analysis in HRM encompasses key concepts essential to understanding its process and outcomes. These concepts include: Job: A specific organizational position or role with distinct tasks and responsibilities. Task: The smallest unit of work performed within a job. It refers to a specific action or activity that contributes to completing a job. Duty: A collection of related tasks that form a significant part of a job. Responsibility: The obligation to perform specific tasks and be accountable for the outcomes. Qualification: The knowledge, skills, abilities, and attributes required to perform a job effectively. Factors to be Considered in the Collection of Job Analysis Data  When collecting Job analysis in HRM data, several factors should be taken into consideration: Job Context: The environment and conditions in which the job is performed. This includes physical surroundings, work schedules, and organizational culture. Job Relationships: The interactions and relationships with other job positions. This includes collaboration, reporting relationships, and communication channels. Job Requirements: The skills, qualifications, and competencies needed to perform the job effectively. This includes educational background, certifications, and specialized knowledge. Importance of Job Analysis  Job analysis is vital in various HRM functions. Let’s explore the significance of job analysis in the following areas: Recruitment and Selection: Job analysis helps identify the qualifications and skills required for a particular job. This information facilitates the recruitment and selection process by ensuring that suitable candidates are hired. Training and Development: Job analysis provides insights into the skills and knowledge needed to perform a job effectively. This helps in designing training programs that address specific job-related competencies. Performance Appraisal: Clear job descriptions and specifications derived from job analysis serve as the basis for evaluating employee performance. Career Planning: Job analysis helps individuals understand the requirements and expectations of various organizational jobs. This knowledge aids in career planning and development. Job Design: Job analysis helps design jobs that are meaningful, challenging, and aligned with organizational objectives. Job Analysis Information and Its Sources  Job analysis in HRM data can be obtained from various sources, including: Employees: Employees can provide valuable insights into their job roles and responsibilities through interviews, questionnaires, or surveys. Supervisors and Managers: Supervisors and managers have firsthand knowledge of the tasks and requirements of the jobs they oversee. Job Analysis Experts: HR professionals or external consultants specializing in job analysis can provide expert guidance and support. Existing Documentation: Job descriptions, performance records, and other existing documents within the organization can serve as sources of information. Process of Job Analysis  The process of Job analysis in HRM involves the following steps: Defining the Objectives: Before conducting a job analysis, it is essential to define the objectives clearly. Determine the purpose of the analysis, whether it is for recruitment, training, performance management, or any other HR function. This step helps in guiding the entire process. Gathering Job Data: The next step is to gather data about the job through various methods such as interviews, questionnaires, observation, and analyzing job performance data. This data collection process helps identify the tasks, duties, responsibilities, and required competencies associated with the job. Analyzing Job Data: Once the data is collected, it needs to be analyzed to identify the critical elements of the job. This analysis involves identifying the essential functions, skills, knowledge, and qualifications required to perform the job effectively. Documenting Job Descriptions and Specifications: Job descriptions and specifications are created based on the analyzed data. A job description provides a detailed job overview, including its title, summary, duties, responsibilities, and reporting relationships. Job specifications outline the required qualifications, skills, experience, and competencies needed for the job. Validation and Review:To ensure accuracy and relevance, key stakeholders, including supervisors and employees, should validate and review the job descriptions and specifications. This step helps make necessary revisions or updates to reflect changes in the job role or organizational requirements. Techniques of Job Analysis  Various methods can be used to collect data for Job analysis in HRM. Some commonly used approaches include: Interviews: Conduct structured interviews with employees and supervisors to gather detailed information about job tasks, responsibilities, and requirements. Interviews allow for in-depth exploration of job-related aspects and provide opportunities for clarification. Questionnaires: Distributing questionnaires or surveys to employees to collect standardized responses about their job tasks, duties, and competencies. Questionnaires can be helpful when analyzing many job roles simultaneously and help obtain quantitative data. Observation: Observing employees while performing tasks to gain insights into job requirements, work processes, and environmental factors. This technique helps capture real-time information and understand the job’s practical aspects. Job Performance Data Analysis: Analyzing job performance data, such as productivity metrics, error rates, or customer feedback, to identify the key tasks and competencies associated with successful job performance. This technique provides objective data for job analysis. Job Analysis Questionnaire  A job analysis questionnaire is a structured tool to collect job information. It typically includes questions related to job tasks, duties, responsibilities, working conditions, and required competencies. The questionnaire can be administered to employees, supervisors, or both. It helps gather standardized information and ensures consistency in data collection across different job roles within the organization. The job analysis questionnaire can cover various aspects, such as: Job identification and basic information Job tasks, duties, and responsibilities Required knowledge, skills, and qualifications Physical and environmental conditions Reporting relationships and communication channels Job performance metrics and standards Organizations can collect comprehensive and structured data to support their job analysis process by using a job analysis questionnaire. Competency Approach of Job Analysis  The competency approach identifies the specific competencies or skills required for successful job performance. Competencies include knowledge, skills, abilities, and behaviors that enable individuals to perform their jobs effectively. The competency approach helps in aligning job requirements with desired organizational outcomes. Uses of Job Analysis  Job analysis in HRM findings has several practical applications, including: Recruitment and Selection: Job analysis information guides the creation of job advertisements, selection criteria, and interview questions. Training and Development: Job analysis identifies the skills and knowledge needed for effective training program design. Job Evaluation and Compensation: Job analysis helps determine the relative worth of organizational jobs and establish equitable compensation structures. Performance Management: Clear job descriptions and specifications derived from job analysis serve as the basis for setting performance standards and evaluating employee performance. Advantages of Job Analysis  Job analysis offers numerous benefits to organizations: Clarity and Focus: Job analysis provides a clear understanding of job roles and responsibilities, ensuring that employees and managers have a shared experience of expectations. Effective Staffing: By identifying job requirements, job analysis helps organizations attract, select, and retain the most suitable candidates. Training and Development: Job analysis facilitates the design of targeted training and development programs that address specific job-related competencies. Legal Compliance: Job analysis helps organizations ensure compliance with legal requirements by establishing job-related criteria for selection and promotion. Problems of Job Analysis  Despite its benefits, job analysis can also present specific challenges: Subjectivity: The data collected through job analysis methods may be influenced by individual perspectives, leading to subjective interpretations. Time and Resource Intensive: A comprehensive job analysis requires significant time and resources, especially in large organizations. Resistance to Change: Employees may resist job roles and responsibilities changes resulting from job analysis findings, leading to potential resistance or dissatisfaction. Conclusion   Job analysis in HRM is a critical process in HRM that helps organizations understand job roles, responsibilities, and requirements. It facilitates effective recruitment, selection, training, performance management, and career development. By conducting a thorough job analysis, organizations can align their human resources with organizational goals, ensuring optimal performance and success. Explore the Executive PG Program in HRM from LIBA & Human Resource Management EPGP from LIBA to enhance your skills and knowledge in human resource management. Frequently Asked Questions
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by upGrad

27 Jun 2023

What is Herzberg Two Factor Theory? How to use to boost productivity?
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Employees are one of the significant foundations of the company. The company’s growth depends mainly on the performance of the employees. It becomes the duty of the organisations to make sure that employees work to their maximum productivity. Hence, the first step in that direction is taking care of the employee’s needs and ensuring their physical as well as mental well being. After all, happy employees lead to a healthy business. As a result, companies are always on the lookout for ways to enhance the productivity of their employees. What is Herzberg Two Factor Theory? Herzberg Two Factor Theory, also known as the Motivation-Hygiene Theory or Dual-Factor Theory, was developed in 1959 by American psychologist Frederick Herzberg. The theory posits that there are two sets of factors—motivators and hygiene factors—that drive an individual’s job performance and satisfaction. The motivators are intrinsic to the role itself—things like recognition and responsibility—while the hygiene factors relate more to external elements such as working conditions, salary, and benefits. By understanding how these two sets of factors interact with each other, managers can better understand their team members’ motivation levels and use this knowledge to increase job satisfaction. According to Herzberg’s research, motivators lead to increased engagement and job satisfaction, while hygiene factors can only prevent dissatisfaction. This means that for a manager to increase employee motivation and job satisfaction, they need to focus on the motivators rather than the hygiene factors. The Herzberg Two Factor Theory has been widely studied in both academic and business contexts and is still used today by many employers. It provides an important lesson in understanding how employees are motivated—focusing solely on salary or other external rewards is not enough; it’s also necessary to look at the intrinsic motivators of recognition, responsibility, etc. With this knowledge in hand, managers can create a workplace where people are truly engaged and motivated to do their best work. Examples of Herzberg Theory of Motivation Herzberg’s Theory of Motivation is a powerful tool for managers to understand how their team members are motivated. Here are some examples of how this theory can be applied in the workplace: Embracing the intrinsic motivators Recognition, responsibility, and growth opportunities are all important factors when it comes to motivating team members. Giving employees recognition for their efforts and giving them more challenging tasks that require them to learn new skills can help increase job satisfaction and engagement. Improving working conditions Pay, benefits, work environment, and other hygiene factors also play an important role in employee motivation levels. Managers should strive to create an environment where people feel safe and respected while also offering competitive salaries and benefits packages. Understanding the balance between motivators and hygiene factors It’s important for managers to understand that focusing solely on salary or other external rewards is not enough; they must also take into account the intrinsic motivators of recognition, responsibility, etc. Only then can a workplace be truly engaging and motivating for employees. By using Herzberg’s Theory of Motivation, employers can better understand how their employees are motivated and create an environment where people are excited to work hard and succeed. It is an invaluable tool for any manager looking to increase job satisfaction in their team. How to enhance the productivity of employees? The most important question that all businesses face is what steps they can take to improve employees’ productivity. Here are a few ways or pointers that help improve the employee’s productivity. Smart delegation of work- Effective delegation is the key to getting the maximum work done in minimum time. Employees who are experienced should be given strategic decision making roles where they can put in their learnings to use. On the other hand, not-so-experienced employees should be given parts that are comparatively more straightforward but are necessary for them to know in the future. Effective communication- A clear and straight-forward communication is the key to many problems. Often, a delay in communication leads to a wastage of time, which reduces productivity. There are many new ways available to enhance the flow of communication available nowadays. Efficient team communication tool like Slack is an excellent example of this. Imparting training to employees- Training employees in the new methods and keeping them up to date with the latest technologies. Having regular mentorship programmes can be one of the ways to train the employees and enhance their productivity. Keep employee’s mental health in check– Having perfect physical and mental health is the number one requirement of a productive workforce. It is the organisation’s responsibility that the employees are in excellent health and are not overburdened with the work. Setting attainable goods- In order to get efficient results from the employees, they must be assigned an adequate amount of work, not more and not less. This increases the employee’s productivity to a much greater extent. Giving adequate off period to the employees- To expect great results from the employees, they should also be given the weekends off in an absolute sense. This means that they should not be burdened with tasks and unrealistic deadlines to be met during the weekends. Once the employees come recharged after the break, they are able to have greater focus and motivation. Provide feedback to the employees- A feedback system is necessary to ensure that employees can know where they are lacking and can improve on their flaws. Honest feedback plays a vital role in improving the employees’ productivity over a period of time. Reducing distractions- An average human tends to get distracted while working for long hours. The main culprit is social media in this regard. It is impractical to take harsh measures to curb the distraction, such as banning phones in the office. Instead, companies can provide regular breaks to employees so that they don’t become overburdened and have the chance to cool off.   Incentives- Providing incentives can work as a wonder in boosting employees’ productivity. Incentives should not be only material but can be psychological as well. Providing them with recognition and appreciation for the work done can also motivate them.   Play according to the employees’ strengths- A great environment is one where every individual has the chance to grow into their maximum capacity. Singling out the employees’ strengths and using their talents leads to their as well as the company’s growth. Making improvements in the existing skills takes less time than learning a new skill from scratch. Hence, this is one of the most effective ways of enhancing employees’ productivity. Explore our Popular Human Resource Courses Professional Certificate Programme in HR Management and Analytics Executive Post-Graduate Programme in Human Resource Management Strategic Human Resources Leadership Cornell Certificate Program Herzberg Two Factor Theory Of Motivation Frederick Herzberg, a behavioural scientist, proposed a theory in 1959. The two-factor theory or motivator hygiene theory argues that two factors can be used to influence motivation in the workplace. The two factors are Motivators and Hygiene Factors. Motivators- Motivator factors are those which yield positive satisfaction to employees. These factors act as a propelling force for the employees to give out the best performance. These involve the psychological satisfaction that employees derive after performing a task. Motivating factors include:               Achievement- It is crucial for the employee to feel a sense of achievement after performing a task. The purpose of achievement acts as a significant motivating factor that helps the employee move further in their career              Responsibility- The responsibility of the task performed acts as the primary motivation for employees to put their 100 per cent into the work.            Recognition- Getting praise and recognition from the job makes an effort worthwhile for the employees. This boosts their morale and en=ncourages them to improve further.          Growth opportunities- One of the essential things is to have the opportunity for growth and learning. This includes proper and timely promotions as well.           Nature of the work- The work should be such that it provides the employees with job satisfaction is challenging enough for them, so they have the chance to learn new things and not feel bored. Hygiene factors Hygiene factors are pretty different from motivators. These are the factors that have to be compulsorily present for motivation in the workplace. They don’t lead to any positive satisfaction, but their absence leads to dissatisfaction. These are also known as dissatisfiers or maintenance factors. Hygiene factors include: Relationships- A healthy relationship with colleagues and superiors is a necessary condition. Employees don’t want to work in a toxic environment. Monetary Compensation- The compensation should be fair and should be according to the market standards. Policies of the company- The company’s policies should be fair to everyone. There should not be any discrimination on any basis in the organisation. Working conditions- The workplace should be hygienic and safe for the employees. Status- The employee’s job status within the organisation should be maintained and not tampered with frequently. Security- Employees should have the security of their job and should not have the pressure or fear of getting fired anytime without any valid reason. If you are interested in making a career in the field of human resources, you should check out the Executive Post-Graduate Programme in Human Resource Management offered by the third-ranked college in the country, Loyola Institute of Business Administration (LIBA). The course equips with you all the knowledge necessary to venture out and make a successful career in the field of Human Resource Management. You get access to live sessions, case studies, assignments, and practical projects to learn as well as test your knowledge. There are also weekly doubt sessions held to clear the doubts. Additionally, you get access to the vast alumni network of LIBA to help in your professional journey afterwards. Conclusion Human Resource Management has seen many developments in recent times. Organisations try out different theories and methods to enhance employees’ productivity and improve their mental well-being. The field of Human Resource Management offers a great career opportunity and handsome pay. This is one of the most preferred career stream for youngsters out there.
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by upGrad

26 Jun 2023

Human Resource Management Process: Meaning, Importance, Steps and Tools
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Human resource planning (HRP) is the widely chosen path by many companies that aid in preventing workforce hurdles. This assists in the optimal utilization of current employee capacity. The HRM process not only involves utilizing the present employees but also focuses on forecasting the prospective HR requirements. Proper human resource planning involves retaining quality personnel and recruiting skilled individuals. This in turn results in employees working in roles that suit their capabilities and overall employee satisfaction.  The human resource management process is indispensable for your company’s long-term success and proper planning and implementation is essential to achieve this. In this blog, know the HRM meaning, its importance, key HRM steps, essential HRM tools, and more.  Understanding Human Resource Planning  The human resource management process or shortly known as the HRM process is associated with employee payroll, talent acquisition, performance management, retention of quality workforce, employee management and more. The HRM process mainly focuses on two aspects: evaluating current employees of the company and calculating the future human resource requirement. Accordingly, skill training is arranged for present, fresh and future employees by the HR department of the company which is concerned with human resource planning and staffing. This HR process contributes to the right talent procurement and benefits the various departments of the company that require fresh talent.   Importance of Human Resource Planning To uphold optimal effectiveness and business profits, hiring a suitable workforce is highly important. The right fit of personnel with the best talent and abilities brings your business growth and leverage over your competitors. This can be achieved through human resource planning and it comes with a wide range of advantages such as follows:  Evaluates The Skills and Capabilities of Current Employees The HR process comprehensively reviews the skills and abilities of present personnel so that each employee is assigned the role they are fit for. The human resource process also evaluates employee performance and the need for further training. Employees with the best performance can be promoted to higher positions with improved responsibilities that can expand their professional abilities. This cost-effective and time-saving HR process saves the need for interviewing and recruiting new employees.  Anticipates And Adapts to Industry Developments HRM process lets your company adapt to the dynamic changes and advancements in your industry resulting in the business prosperity in the long term. This can help you to decide whether there is any necessity for new roles in your company. If so, you could hire fresh personnel capable of handling business operations in new marketing niches.   Assists The Company to Stay Competitive Survival of business in the long term calls for maintaining competitiveness and gaining leverage over your competitors in the market. The HR process can contribute to this by hiring the right people at the right time by providing the right incentives. The human resource process designs the finest hiring techniques, attractive work terms, job training, reasonable remuneration, work-life balance, and more that are attractive to both current and future employees.  Ensures The Company’s Long-Term Growth The HR process also takes into account the inevitable future changes and allows you to design the hiring plans accordingly contributing to the company’s long-term success. As a responsible HR professional, if you are trying to accelerate your career growth along with your company’s growth, the Professional Certificate Program in HRM & Analytics from IIMK is the right course you are looking for. Learn more about this course from upGrad designed by honored IIM-K. Evolution of Human Resource Management The human resource management process evolved from personnel management constantly over the years. It all started to transform in 1920 when Elton Mayo, the father of human resources management, studied human relations and behavior from which he found the importance of work-life balance and its relation to employee productivity. Robert Owen, the father of personnel management and creator of several social and welfare practices, introduced various working conditions that produced better results including improved employee efficiency and work satisfaction. The year 1929 also saw the greatest transformation in the human relations movement due to the great depression where old-age pensions, minimum wages, and labor standards were established. Currently, the U.S. Office of Personnel Management (OPM) is the world’s biggest HR department.  Check out our free courses to get an edge over the competition. Why Managers Must Know About Human Resource Management HR managers are responsible to get familiar with the HRM process to achieve the following:  Hire the right fit for the role To allow every employee to work efficiently  Assign the right tasks to the right people  To only conduct the quality interviews  To curb any unfair and unsafe labor practices  To offer reasonable pay in comparison with competitors  To conduct further training whenever necessary  You can achieve all these and more as a growing HR manager by polishing your knowledge and skills. Executive PG Program in HRM from LIBA is one such best course offered by upGrad that could positively impact your career growth.  Key Steps in Human Resource Planning HR managers can follow these key HR process steps and design effective working business strategies. This organized six-step plan assists any HR and helps in achieving the best results for your company.  1. Analyzing the Business Objectives of Your Company It is an unwritten rule that every department of the company functions to achieve the overall business objectives including the HR department. So, the first HRM process requires the HR manager to thoroughly study the business objectives and needs. By studying these needs, you can figure out the required work to do.  2. Taking an Inventory of Your Available Human Resources The second HR process step involves you to conduct the inventory of your present workforce. This includes considering several employees, departments, and their job positions to evaluate their contribution, qualification, performance and benefits they are receiving. This helps to identify the employees that require additional training and employees that need to exit the office.  3. Predicting Human Resource Demand and Supply Requirements Following the current personnel inventory, you can draw out the supply and demand forecasting of the HR requirements. This step also involves evaluating the vacancies that could arise from future retirements, job changes, promotions and layoffs. As and when your company expands into newer domains, fresh professionals might be required to fulfill the specialized business needs.   4. Undertaking Gap Analysis As the name suggests, gap analysis refers to the comparison of the current performance of your company to the expected performance of your personnel. The present gap between the current and expected performance can be narrowed down by implementing necessary business strategies such as providing training to present employees, offering more employee benefits, or hiring more experienced professionals.  5. Creating A Human Resource Action Plan A human resource action plan is essential for any HR manager to implement the required changes in your company. This helps in dealing with talent deficit or surplus. Employee redistributions, transfers, or recruitment planning might be needed in the talent deficit. In the case of a talent surplus, voluntary retirement, voluntary transfers, or voluntary layoffs might be appropriate.  6. Monitoring the Plan and Getting Feedback Following the implementation of the human resource action plan, its time to monitor it and request feedback from the respective department heads. This helps you to figure out whether the developed plan is fulfilling your business requirements. There might also be deficiencies which require appropriate action.  Human Resource Planning Tools With the right human resource planning tools, you can design an effective human resource action plan and monitor its working accordingly. There are numerous ranges of HRM technological tools available in this digital world and here are a few of them as follows:  Surveys To effectively identify the problem areas and resolve them, surveys are very useful in this regard. These HR surveys can range from collecting data regarding employee skill levels, performance, productivity levels, the usefulness of training sessions, work satisfaction, work environment and culture.  HR Dashboards The HR dashboards arrange all the employee-related data in a comprehensive way that includes employee performance levels, turnover rate, productivity, skill levels, etc. This data can be collected and displayed in an organized way that can be highly helpful in the human resource planning process.  Scenario Plans Scenario analysis or planning requires the HR manager to identify and take into account the probable situations, driving forces and possible outcomes. This involves making informed assumptions about the company’s future and planning accordingly for the anticipated changes in a business environment. For example, job analysis in HRM includes the gathering of employee information and analyzing it along with understanding how the jobs are performed. This might assist in the future placement of jobs when the company enters new markets and advanced domains.  Performance Management System Employee performance matters a lot which decides the speed of ongoing business operations. Here, the performance management system comes into the picture. This is a software program used by HR managers to provide performance ratings and feedback to the personnel. This system can assist you in deciding promotions and job role alterations. The need for further training programs to level up the employees’ skills can be decided by this program.  Human Resource Management System The automated HRM system makes the HR manager’s task easy, convenient and cost-effective. HRM system is a software program that includes several processes and systems to enable HR, data and business process management. This software program lets the HR manager automate most of the aspects such as HR planning, compensation, benefits, payroll management, hiring decisions, recruiting plans, productivity, performance, employee skills, promotions, work hours, and more.  Compensation and Benefits Analysis Software Compensation and benefits analysis software is an automated program that assists in planning, organizing, managing, and directing employee benefits and compensation packages. HR managers can use this program for the HR planning process including the selection process in HRM to update salary budgets on company level, bonuses, employee performance-based incentives and more.  Conclusion With the right planning and implementation of the human resource management process, your company can gain leverage over human resource capacity including current and prospective employees. By incorporating the above key HRM steps and tools, you will be able to design the best-tailored HRM that helps in creating a positive work culture in your company.  If you are an HR professional interested in accelerating your HR analytics journey,  or you want to take key business decisions based on the pivotal insights derived from the HRM process, the Professional Certificate Program in HRM & Analytics from IIMK from upGrad is the right course awaiting your career success. Non-HR professionals can also boost their career growth with this comprehensive course carefully designed by the prestigious IIM-K. Take the right leap and accelerate your career like never before with this in-demand course by upGrad.  FAQs
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by upGrad

24 Jun 2023

What is Training & Development in HRM? Methods, Types with Examples
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Introduction Growth in many other areas will result from investing in your personnel. Cash flow, output, and product quality are all included in this. Employee development may hold the secret to your business’s long-term success. One of the most crucial aspects of any organization is the training and development in HRM. This training aims to improve employees’ abilities, behaviors, and expertise by exposing them to new working methods.  What is Training and Development in HRM?  In Human Resource Management (HRM), a system of employee education is referred to as training and development. It contains various resources, guidelines, and exercises to enhance employee performance. Employees have the chance to broaden their knowledge and improve their abilities with the training methods in HRM. It is a teaching tool that contains data and guidelines for honing already acquired abilities and introducing fresh ideas and information to boost worker productivity. An effective training and development plan built on an analysis of the training needs aids the business in raising the productivity and skill levels of its workforce. History of Training and Development To gain a better understanding of it, let’s look at training and development in human resource management. In the United States, it all began during the Second World War. The demand for skilled laborers started to increase all of a sudden. The American labor movement was founded at this time. Staff training and development growth can be primarily attributed to this movement. Corporation schools were established in the early 1900s to give factory workers the skills they needed for their jobs. At this time, people also began utilizing personal computers for staff training. Modern staff training in HRM systems today is built on the foundation of this computer-based training. Trends in Training and Development  The following trends in HR training and development should be noted: Online courses for self-paced staff development Instruction in managing virtual teams Tailored training courses based on the requirements of the workforce Programs for learning mobile apps Use of knowledge-sharing platforms by all staff To stay up with evolving technologies, one must retrain and acquire new skills. The accessibility of online learning opportunities Instruction for new managers and leaders Purpose of Training and Development in HRM  A company that invests in its personnel will probably see increased financial success as a result. However, training in human resource management goes beyond just increasing profits. The aims of training and development in HRM are as follows:  Increase company productivity  You might want to think about upskilling your staff. It might increase their effectiveness by training them to use cutting-edge equipment and technology. Additionally, having more faith in their ability will inspire them to work harder. They’ll also be able to overcome obstacles and rapidly adjust to changes. In addition to that, you’ll be encouraging a learning culture at your business. Your staff’s relationships with one another may improve due to their shared learning.  Check out our free courses to get an edge over the competition. Improve product or service quality.  Programs for training and development give professionals in your company a chance to share their knowledge. Employees will quickly pick up helpful hints and best practices for their jobs. They will be able to produce better goods or offer services that are more satisfying as a result. All of these elements could considerably impact the productivity of your business.  Lessen employee turnover  Employee turnover is positively impacted by training and development, according to research. Employees will undoubtedly value your company’s commitment to their development. This will increase their sense of commitment, belonging, and job happiness.  Decrease costs and errors  If your business has well-trained workers, mistakes are made infrequently to never. As a result, reworking flawed work requires less time and resources. Additionally, faulty service delivery and defective products are often disapproved of. They might also entail additional costs.  What is the Role of HR in Training and Development?  HR’s job in training and development is to help staff members realize their full potential. These responsibilities can be carried out to fulfill this important role: Employee mentoring and guidance Keeping an eye on staff performance Getting comments and analyzing the information gathered Providing educational opportunities and improvement activities Providing adequate on-the-job training Increasing employee motivation and spirit Ensuring the general well-being of staff What Are the 5 Processes in Training and Development?  Five interrelated processes make up types of training and development in HRM. There is no clear beginning, middle, or end to these processes. Instead, they cross over to accomplish what they were meant to.  Determine the need for development and training If a company is running a training program, you may evaluate the potential for growth for both the individual employees and the organization as a whole. This may involve establishing a new department, bolstering the current teams, introducing new goods, or improving current ones.  Establish clear objectives and targets Setting a clear goal or objective for training and development comes after identifying the organizational needs. Establish a clear plan that satisfies the requirements of your training program, whether it is raising awareness of the release of a new product or teaching the installation procedure for new software.  Product quality improvement: Businesses must be competitive in the market as consumers are frequently increasingly quality-conscious.  Reducing time waste: It’s important to monitor employees’ capacity for learning and estimate how much time they need to spend learning.  Putting safety measures in place: Every business is accountable for the safety of the management, employees, and clients working on its property.  Supporting successful management: To prevent management-related challenges, the organization must have good management, planning, and control. The information provided during a training program can help employers and employees deal with difficult situations more skillfully. Choose your training approaches and create a thorough plan.  A complete training program includes teaching techniques, subject substance, a learning flow, and other crucial components. You can pick from the following training techniques:  Classroom instruction: This can foster employee development and result in positive interactions that make new hires feel supported and welcome. Computerized training: This allows for flexibility and scalability because it allows for the participation of any number of individuals who can move through the program at their own pace. Training based on simulations: In this kind of strategy, trainees are confronted with hypothetical problems and asked to find solutions. On-the-job or practical training: This enables staff members to comprehend the workplace and pick up new skills.   Role-playing: The procedure involves the trainee and the trainer, and the trainees take on the role of someone who is faced with a problem and must figure out how to solve it independently. Put the training program into action. The company can carry out the training procedure through thorough, straightforward step-wise instruction and coaching after choosing a training strategy and approach. The business can plan training sessions and employ the necessary materials for this. Check out upGrad for obtaining a Professional Certificate Program in HRM & Analytics from IIMK.  Analyze the results Organizations must evaluate the program’s influence, efficacy, and level of success. You can ask the staff for feedback to find out if the program was beneficial and to see if they have any recommendations for improvement.  Monitor activities Monitoring employee performance comes last before training and development are finished. Management can determine whether the training was sufficient for the present or if advanced sessions are needed based on the training assessment findings.  Examples of Training and Development in HRM  Etsy When it comes to employee training and development, Etsy employs a comprehensive strategy. According to the company’s official website, its educational and growth method is founded on sociological, organizational psychology, theory of adult learning, and personal values and culture. Amazon This well-known online retailer has pledged to upskill more than 300,000 of its workers. The goal of Amazon’s Upskilling 2025 promise is to give employees the training they need to land future high-growth positions. When it comes to employee training and development, Amazon is unquestionably an organizational role model. AT&T AT&T aims to promote a culture of ongoing learning and skill improvement. The business created AT&T University, a wholly owned internal training organization for this. To prepare the workforce for their tasks, the organization offers a variety of training and development opportunities. Methods of training and development are divided into two groups: The Job Methods  The core of all training in any organization is the on-the-job method. It is the type of employee development that is most widely used. It is a conventional training method intended to increase the knowledge and understanding of employees. Job Instruction Training – Training through on-the-job instruction was created during World War II. In essence, it is used to instruct employees on how to carry out their current duties. A coach might be an instructor, a manager, or a fellow employee. Coaching – Coaching is a lifelong learning process that involves doing. Direct instruction, direction, thorough demonstration, ongoing critical assessment, and correction are all part of coaching. Mentoring: In this approach, a senior member of the organization takes on the duty of educating and molding a junior. A mentor serves as a junior’s teacher, mentor, counselor, philosopher, and facilitator. Job Rotation – Rotating jobs and positions during training broadens trainees’ backgrounds within the company. An employee can better understand the organization’s many functional areas and overall viewpoint through job rotation. Committee Assignment – The trainees join the organization’s committee as members. To debate and make recommendations, the committee was given an issue. Off-the-Job Methods Off-the-job instruction and growth methods are other components. To learn and obtain knowledge relevant to their employees that will improve their working abilities, trainees in this approach must quit their occupations and workplaces. Special lectures and courses – Specialized training and lectures are still the most common technique of staff development because they are a conventional approach. These classes and lectures are made to broaden and increase the trainees’ knowledge. Any management or professional school created these lectures and courses. Seminars and Conferences – Participants in this method must exchange ideas, recommendations, thoughts, opinions, and ideas. Selected Readings – The self-improvement training method is this. The Trainees acquire the necessary information and awareness by reading numerous business periodicals and magazines. Programmed instructions or learning – This is a way of step-by-step self-study using a textbook, computer, or the internet as the medium. This methodical approach to teaching job skills involves presenting questions or information, giving the individual a chance to respond, and then providing instant feedback on those responses. Brainstorming – Brainstorming is a strategy for developing creativity that aids in finding novel solutions to challenges. With this method, the students are given a chance to come up with ideas in an honest and judgment-free manner.f Conclusion  Management of human resources plays a crucial role in every organization. Without competent human resources management, businesses could not attract and retain top talent, grow and improve their operations, or preserve a positive, accepting workplace culture. We hope you have gotten a detailed understanding of training and development in human resource management with examples.  FAQs
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by upGrad

24 Jun 2023

What is Human Capital Management? Meaning, Importance, Tools, How to Choose
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What is Human Capital Management? Let’s understand human capital managemen meaning. To achieve organizational competency for workforce acquisition, management, and optimization, human capital management (HCM) is described as a collection of human resource management practices. Let’s spend a minute concentrating on the definition’s major components before going further into HCM procedures, features, and strategies. First, HCM is a “set of practices” rather than only ideas and norms. The practical side of HCM is significant since it emphasizes the necessity of these systems’ continued relevance for practicality. The second is that HCM is “focused on the organizational need.” What may be ideal for Organization A may not be at all appropriate for Organization B. While we are frequently inundated with best practices for everything, it is important to remember that sometimes it is beneficial to break away from the crowd and find what fits. Third, we must identify the appropriate competencies to concentrate on “workforce acquisition, workforce management, and workforce optimization” within the HCM umbrella. The phrase does capture the spirit of HCM, even though the term “workforce” may sound a little out of date in today’s WoW (World of Work) of “talent” language. Having stated that, the HCM practices must change to keep up with the development of our interaction with technology. Human Capital Management HCM: Core Processes and Platforms (Tools) Human capital management (HCM) often manages three primary processes during an employee’s employment cycle. These are talent acquisition, talent management, and talent optimization. Talent Acquisition – One of the essential elements of HCM is talent acquisition. It may be described as the process that HR uses to locate the best applicant for a certain position. It involves tracking applications, recruiting, conducting interviews, checking references, hiring, and onboarding. Building a solid staff is the goal of this lengthy process. In contrast to recruiting, talent acquisition entails identifying the best individual to fill a certain employment function. Accurate forecasting, coordination, and other factors help get the most out of a skill. Talent optimization – The necessity for an organization to continuously develop ways or approaches for individual or collective improvement to achieve corporate goals and objectives is known as talent optimization. One such strategy is to train staff in the abilities that are currently or will soon be needed. The success and expansion of the organization are ensured by succession planning, career pathing, and ongoing learning. Talent Management – The objective of raising staff productivity and efficiency is made possible via talent management. It guarantees that the appropriate individual with the appropriate skill set is assigned to a given job function. In their employment function, the management mentors and oversees the employee. Among the crucial components of HCM are, Time and attendance: This program aids in monitoring the employee’s working hours and leave usage. It is a self-service tool that maintains accountability and promotes participation. Payroll: The HCM tool makes payroll management easier. It effectively handles employee payroll through the automated process by keeping track of employee attendance, overtime, etc. Performance management: HCM systems assist in improved communication and make it easier to create goals and objectives for both the team and the individual. Culture Connect: The HCM system also makes it simple for employees to draw attention to their complaints and get them resolved.   Benefits of Human Capital Management Human Capital Management (HCM) offers several key benefits to organizations. Here are some of the major advantages: Improved Employee Performance: Effective HCM practices, such as goal setting, performance management, and continuous feedback, can enhance employee performance. By aligning individual goals with organizational objectives and providing the necessary support and development opportunities, HCM helps employees perform at their best. Enhanced Talent Acquisition and Retention: With a strong HCM strategy in place, organizations can attract top talent, recruit the right fit for specific roles, and retain high-performing employees. Effective talent management practices, such as career development opportunities, competitive compensation packages, and supportive work culture, contribute to attracting and retaining valuable employees. Increased Organizational Agility: HCM allows organizations to be agile and adapt to changing business conditions. With a skilled and engaged workforce, organizations can respond quickly to market demands, seize new opportunities, and navigate challenges effectively. Better Decision-Making: HCM emphasizes data-driven decision-making by leveraging people analytics and workforce insights. This helps organizations make informed decisions about talent acquisition, performance management, training investments, and resource allocation. Check out our free courses to get an edge over the competition. Human Capital Management (HCM) Challenges  Human Capital Management (HCM) comes with its fair share of challenges. Here are some common challenges organizations face in implementing HCM practices: Talent Acquisition: Finding and attracting skilled candidates who align with organizational needs can be a challenge. Competition for talent, skills shortages, and identifying the right cultural fit can make talent acquisition complex. Performance Management: Implementing effective performance management processes, including setting clear goals, providing regular feedback, and conducting fair evaluations, can be challenging. Ensuring performance assessments are objective, consistent, and transparent is key. Training and Development: Providing relevant and continuous training and development opportunities to enhance employee skills and knowledge is vital. However, identifying the right training programs, allocating resources, and ensuring employees actively participate can be challenging. Changing Workforce Dynamics: Managing a diverse workforce with varying expectations, generational differences, and remote or flexible work arrangements can present challenges in terms of communication, collaboration, and maintaining a cohesive organizational culture. Why is Human Capital Management (HCM) Important? Maximizing staff Capacity: HCM focuses on maximizing workforce potential by coordinating individual aspirations and competencies with organizational goals. It ensures workers are efficiently used, developed, and inspired to provide their best effort. HCM is essential for improving organizational performance and driving it. Organizations may enhance business outcomes by investing in the growth and engagement of their workforce, which will raise productivity, creativity, and customer happiness. Top Talent Attraction and Retention: In today’s cutthroat employment market, recruiting and keeping qualified workers is critical. Effective HCM techniques, such as providing chances for advancement, competitive pay, and a supportive workplace environment, increase an organization’s appeal to top talent and lower turnover rates. Increasing Employee Engagement and Happiness: HCM cultivates a supportive workplace encouraging participation, loyalty, and job happiness. More engaged employees are more dedicated, effective, and inclined to go above and beyond for the company. How Human Capital Management Technology Can Help You? Human Capital Management (HCM) technology can provide numerous benefits and support in managing and optimizing your workforce. Here are some ways in which HCM technology can help you: Streamlined HR Processes: HCM technology automates and streamlines various HR processes, such as recruitment, onboarding, performance management, time and attendance tracking, and benefits administration. This reduces manual paperwork, saves time, and increases efficiency. Data-Driven Decision-Making: HCM technology gives users access to real-time analytics and data about employee performance, engagement, and workforce demographics. As a result, you can make data-driven decisions that help you see patterns, decide wisely, and create HR plans that work. Talent Acquisition and Management: HCM technology supports the entire talent acquisition process, from applicant tracking and resume screening to interviewing and hiring. It helps streamline candidate selection, improves applicant communication, and enhances the overall recruitment experience. Employee Self-Service: HCM technology often includes self-service portals where employees can access and manage their personal information, benefits, time-off requests, and training modules. This empowers employees to take ownership of their HR-related tasks, reducing administrative burdens for HR professionals. What is Human Capital Management Software? Human Capital Management (HCM) software is a comprehensive digital solution designed to streamline and automate various human resources (HR) processes and activities within an organization. It serves as a central platform that integrates different HR functions, allowing for efficient management of the organization’s human capital. HCM software encompasses a wide range of modules or features that cater to specific HR functions, such as talent acquisition, employee onboarding, performance management, learning and development, benefits administration, time and attendance tracking, and more. These modules are designed to digitize and automate manual HR tasks, reducing administrative burdens and increasing operational efficiency. One of the primary advantages of HCM software is its ability to provide self-service portals for employees. These portals allow employees to access and update their personal information, submit time-off requests, view pay stubs, participate in training and development programs, and engage in other HR-related activities. This empowers employees and promotes a sense of ownership and control over their HR processes. How to Choose a Human Capital Management System? Choosing the correct Human Capital Management (HCM) system selection for your business is important. When choosing an HCM system, keep the following important considerations in mind: Assess Your Needs: Begin by analyzing the unique HR needs of your company. Choose the essential features and functions you require, such as processing payroll, benefits administration, performance management, learning management, etc. Take into account the size of your business, the difficulty of your HR procedures, and any particular standards or laws governing your sector. Ensure the HCM system is flexible and scalable to meet your organization’s expanding and evolving demands. Take into account potential demands like growing into new markets, hiring additional personnel, or introducing new HR procedures. Evaluation of the HCM system’s integration and compatibility with your current software and systems is necessary to determine its integration capabilities. The data flow may be streamlined and human data entry eliminated via seamless connectivity with other HR applications, accounting programs, or enterprise resource planning (ERP) systems. User-Friendliness: The HCM system needs to have a simple, user-friendly interface that is simple to use and navigate. To evaluate the system’s usability and ensure that both HR experts and workers can readily engage with it, hold demos or trial periods. Data Security and Compliance: When it comes to HR data, data security is of the utmost importance. Make sure the HCM system has strong security safeguards to guard sensitive employee data.  Conclusion  For businesses looking to streamline their HR procedures and efficiently manage their employees, deploying a Human Capital Management (HCM) system is a strategic investment. A centralized platform for streamlining and automating numerous HR tasks, from hiring and onboarding to performance monitoring and training, is provided by an HCM system. Check out upGrad for obtaining a Professional Certificate Program in HRM & Analytics from IIMK.  Organizations may boost operational effectiveness, improve data quality and accessibility, encourage informed decision-making, and increase employee engagement by utilizing an HCM solution. Self-service portals, analytics tools, and compliance tools are just a few of the system’s features that help make HR operations more effective and efficient. In the end, a wisely designed HCM system helps organizations maximize the potential of their people resources and foster long-term commercial success. FAQs
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by upGrad

24 Jun 2023

What is Strategic Human Resource Management? Types, Functions, Examples
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Do you know what is strategic human resource management? Unlock the power of Strategic Human Resource Management (SHRM) with our comprehensive blog. Dive into the types and functions of SHRM, backed by real-world examples. Discover how SHRM enables organizations to strategically optimize their workforce and gain a competitive edge in the ever-evolving business environment. Discover the ins and outs of Strategic HRM with the help of Professional Certificate Program in HRM & Analytics from IIMK. What is Strategic HRM? How to define Strategic human resource management? It is an approach to the practice of human resources that addresses business growth and challenges and makes a direct contribution to long-term objectives. The main goal of strategic human resource management is to boost organizational effectiveness, sustain an innovative culture, and relentlessly pursue competitive advantage. It has a greater impact throughout the entire business and is a step up from standard human resources. What are the Characteristics of SHRM? The following are the characteristics of SHRM: Attempts to match human resource policies with requirements for intellectual excellence. An organizational framework connects several HR efforts so that they can support one another. Efforts to link human resource operations with business profits and excesses. The management of human resources has been delegated to staff members with lesser levels of authority. The company’s overall strategic goals, the ethical culture, and the HR rules and procedures are all expressly related. Scope of Strategic Human Resource Management The following are the scopes of Strategic Human Resource Management: HRM in Manpower Planning: This is generally direct personnel management, which includes planning for the use of employees, recruiting, literacy and advancement inauguration and alignment, relocation, elevation, remuneration, layoffs and reductions, and job performance.  Workforce Welfare and HRM: This particular HRM area focuses on workplace amenities and operational circumstances. It includes a variety of responsibilities and services, such as insurance, healthcare, the economy, welfare benefits, and hospital support. Work Relations and HRM: Since it is such a sensitive subject, it necessitates adequate communication with labor or staff groups, settling their grievances, as well as effectively resolving disagreements. Objectives of Strategic Human Resource Management The following are the objectives of Strategic HR Management: Resource-based Strategy: Resource-based theory can be delicate to understand because the word” assets” is employed throughout common English in colorful ways. This is very critical to separate strategic resources from all other types of resources. For illustration, cash is a precious asset for the utmost people.  Achieving Strategic Fit: Employee retention and motivation are aided by a strategic alignment of corporate strategy and human resource management plan. High Involvement Management: It includes Selective hiring, Decision Power, Extensive Training, Information Sharing and Incentive Compensation. High-Performance Management: By developing mechanisms to monitor and enhance performance, SHRM can assist firms in increasing employee productivity. Manpower planning: Manpower planning, frequently known as human resource planning, entails placing the correct amount and type of labor force in the applicable locales at the appropriate times to carry out tasks for which they are good.  Train the employees on technology: Employee usage is required for any new employee-facing technology to enable participation and industry learning and it is important to train employees with an eLearning system or another.   Employee motivation: The HR team’s main goal is to keep things going in the correct direction. Keep negative energy and distractions at a distance. Importance of Strategic Human Resource Management Let’s discuss the importance of Strategic Human Resource Management: Increased job satisfaction: When executing your job or being in the office, an unmeasurable statistic called as employee satisfaction is defined as a pleasurable visceral outpouring. Better work culture: SHRM can help businesses create a positive work culture by managing employee relations.  Forecasting Future Human Needs: Organizations should set some future strategies to survive in the competition.  Improved customer satisfaction rates: Employees may evaluate the vast array of services the organization offers with HR consultants that work in recruiting and training. Efficient resource management: A top-performing HR division could help the business achieve that goal. Efficiency is streamlining everyday tasks while still producing the best outcomes possible, even when you would want to concentrate more on challenging issues. A proactive approach to managing employees: Proactive HR investigates the business and its goals to identify potential problems and creates procedures to stop and resolve issues before they become major ones. Productivity boost: Businesses may increase productivity by enhancing employee performance and fostering a good work environment with the aid of SHRM. Selecting and Utilizing Motivational Tools: Promotion in the workplace, which is an example of the incentive system, is one of the most often used methods for increasing motivation. Setting efficient people to achieve specific goals: Every process for increasing productivity begins with defining goals and aspirations, which set the foundation for effective implementation. Functions of Strategic Human Resource Management The SHRM offers the following functions: Employee Engagement: For every business, increasing employee engagement is essential to success. This benefits the corporation and aids in the retention of talent because engaged people are often content with their employment, take pride in the organization, and think their employer recognizes their particular contributions. Highly engaged employees are far less likely to leave their jobs and are much more likely to be secure and efficient. Introduce Best Practices: The SHRM advises company owners to choose impartial interviewers who have been educated to follow a systematic interview process that guarantees confidentiality. Exit interviews provide valuable information that may be used to improve the business. According to a study by SHRM, providing telecommuting options, sabbaticals, exercise centers, and transportation subsidies significantly reduces turnover. Teach Tools and Techniques: These tools are used to interact with employees and associated processes across the hiring process.  Improve HR Effectiveness: You will be able to comprehend the staff you have and how they assist in achieving your aims and objectives by evaluating your present HR skills. You have to additionally do a skills inventory for each employee. You can identify which workers are specialists in various fields using skills inventories. Publish Research: Research on human resource management evaluates the efficiency of HR procedures. The systematic, academic research method includes several phases, including mass surveillance, analysis, and conclusion-making. Types of the Strategic Human Resources Management The following are the types of Strategic Human Resource Management: Recruitment and Selection  Offering employee job  Learning and Development  Creating regulations that impact the whole organization’s working environment.  Compensation and Advantages  Resolving job difficulties of current workers.  Difference between SHRM and HR Strategies Human resource management, or HRM, is the systematic and organized management of an organization’s human resources. SHRM is a management task that entails structuring HR methods to focus employees’ efforts on achieving an organization’s objectives. The HRM process is a reactive one. On the other hand, SHRM is a management activity that is proactive. SHRM promotes long-term company objectives and results, whereas HRM supports short-term business goals and outcomes. A typical HRM is a cost center when it comes to responsibility. as opposed to a strategic HRM, which is a hub for investments. Traditional HRM versus SHRM Basis HRM SHRM Responsibility for HR programs Staff members in the HR department. Line managers; all managers with people responsibilities are HR managers. Focus of activities Employee relations—  assuring compliance with legislation, employee motivation, and productivity Collaborations with internal (employee) and external (customers, stakeholders, and public interest organizations) groupings Role of HR Reactive and transactional Proactive and transformational, change leader Initiative for change Slow, disjointed, and fragmentary, not integrating with bigger concerns Initiatives for quick, flexible, and systemic change that work with other HR systems Time horizon Short-term Consider various kinds of time frames as necessary (short, medium, or long-term) You can also check out our free courses offered by upGrad in Management, Data Science, Machine Learning, Digital Marketing, and Technology. 4 Components of Strategic Human Resource Management Examine the four components of the Strategic Human Resource Planning and Management Program: Human Resources: These are the primary source of any association which can provide it with a competitive advantage through its knowledge, judgments, right skill set, and intelligence.  Activities: The activities include HR policies, programs, and practices that form a means of gaining a competitive edge in the market. Plans and patterns: To achieve a good match between the HR strategy and the business strategy of the company, as well as between the various HR operations, patterns and strategies are created. Purpose: The use of human resources, including their patterns and practices, is directed towards attaining the organization’s goals by adhering to its strategy. Examples of Strategic Human Resource Management The following are the examples of SHRM: Training and Development: Determining the training and resources that people need to further their careers Employee Remuneration and Benefits Administration: Designing remuneration and benefits programs that attract and retain employees. Performance Management: Creating the latest systems to track and improve employee performance  Employee Relations: The improvement of employer-employee relations is seen as being crucial by many firms, therefore this becomes a strategic priority. Creating a procedure for reporting, looking into, and addressing employee concerns is one of the practical actions that will support this plan. Importance Of Human Resource Planning Let’s discuss the importance of Human Resource Planning: It reviews the skills and capabilities of existing employees: With human resource planning, you can review the capabilities and skills of your current employees and estimate if they are performing their work tasks adequately or require fresh training. It anticipates and adapts to industry developments: Human resource planning may assist your organization respond to the industry’s quick changes and improvements. To manage business operations in new marketing niches, you can assess whether you would need to establish and budget for new jobs inside your organization. It allows the company to stay competitive: You need to employ the appropriate people and provide them with the proper incentives to stick with your firm if you want to remain competitive in your sector. It ensures the company’s long-term growth: Human resource planning also helps to consider how your company might grow and cope with inevitable changes in the future. Key Steps In Human Resource Planning The following are the key steps involved in Human Resource Planning: Analyzing the business objectives of your company: The most effective way to develop a successful HR strategy is to analyze the business objectives of your company. You can determine the best ways to contribute to the long-term objectives of your organization if you have a clear understanding of what those objectives are. Taking an inventory of your available human resources: It would help to do an inventory of your current employees and review their performance for your company. You can consider the total number of employees you have in your business, in each department of the company, and in each job position.  Predicting human resource demand and supply requirements: An organization’s need for human resources may fluctuate from time to time based on both internal and external circumstances. Competition, the political and economic environment, technical advancements, governmental policies, etc. are examples of external variables. Undertaking gap analysis: Gap analysis is a technique for comparing your company’s present performance level with the performance level you could ideally expect from your personnel. Creating a human resource action plan: It is necessary to have a human resource strategy plan to apply changes in your company to deal with talent deficiency or surplus. Monitoring the plan and getting feedback: Monitoring and getting feedback are the sixth and last phases in the human resource planning process. After the action plans are put into effect, they must be evaluated, controlled, and checked against the established criteria. Human Resource Planning Tools The following are some of the best human resource planning tools: Surveys: You may gather information on employee skill and productivity levels, the efficacy of training programs, and employee satisfaction with workplace culture and work environment by conducting human resource surveys. HR dashboards: With HR dashboards, you can collect and display a range of employee-related data that you can relate to and use in your human resource planning process. Scenario plans: Scenario planning is a technique for strategic analysis and planning that aids businesses in making educated assumptions about the future of their enterprise. Performance management systems: Company managers can rate and comment on employee performance using a software tool called a performance management system. Human resource management systems: A software program known as a human resource management system makes use of many methods and procedures to aid business process management, data management, and human resource management. Compensation and benefits analysis software: Planning, designing, maintaining, and administering employee compensation and benefits packages may be done with the use of the compensation and benefits analysis software. Conclusion By managing their staff more effectively, businesses may achieve their objectives with strategic human resource management definition. Companies can make sure they have the proper people in place to accomplish their goals by taking the time to create an SHRM strategy. Although creating an SHRM strategy might take some effort, the advantages outweigh the drawbacks. A well-executed SHRM strategy will not only assist you in achieving your organization’s objectives, but it will also assist in retaining top talent and maintaining employee engagement. Acquire a deeper understanding of Strategic HR Management via pursuing Executive PG Program in HRM from LIBA.
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by Keerthi Shivakumar

17 Jun 2023

Top HR and Payroll Software for Companies in 2024
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As Human Resources are leveraging better means to rationalise pay for all, HRM payroll software is receiving massive attention. With a growth rate of CAGR of 9.2% from 2022 to 2031, the HRM payroll software market share is on its way to reaching $55.69 billion by 2031. This shows the rapid assimilation of HRM payroll systems amid leading organisations to enhance  As of 2024, payroll software is expected to offer various services, including automated payroll processing, payroll reports, electronic payments, and self-service payments. Another way to determine an efficient payroll system is to check for user-friendliness and integration with other business applications. In this read, we will look at how HRM payroll plays a vast part in determining easy payment of employees involved in an organisation. We will also examine how HRM payroll software best suits one’s business. Lastly, we will discuss the nature of the task and the specificity of software catering to the payroll. So, let’s get started! What Is HR Payroll Software? An HR payroll software is a service available to businesses for managing employee payroll. In addition to handling payroll systems and employee working information, it also gathers human resource information. An HR payroll software can efficiently manage recruitment, train employees, and track employee performance. An ideal payroll software tracks employee hours and calculates wages and salaries to be given out to employees. It also overlooks employee benefits, including bonuses and deductions. Other services include generating reports for tax and compliance. Top Payroll Software 1. Deel Deel is a multi-faceted payroll software aimed at helping businesses manage their payroll system. This software is designed to streamline businesses while exercising control over other factors, such as tax compliance, and looks over the benefits. Deel works by automating HRM payroll calculations, thereby optimising the onboarding process. At the same time, it also aids in tax filing to keep up with the ongoing rules and regulations.  Pricing Currently, Deel offers three forms of pricing –  A free subscription for direct employees A subscription worth $599 for businesses A $49 subscription for hiring and paying contractors Pros Easy to set up and use A diverse range of services Integration with HR and accounting systems for payroll data Availability for a free subscription Dedicated customer service team Cons Limited language accessibility Lack of mobile application Lack of payroll preview option Integrations Some of Deel’s top integration software includes Mangtas, Jibble, Tresio, Tackle, FloCareer, Hitch and Zero. 2. Remote Remote is regarded as one of the most comprehensive payroll management systems, simultaneously offering its services to different countries.  Remote’s payroll software is an all-in-one option catering to amplifying payroll systems. With its immaculate onboarding and support for country-specific laws, Remote offers an overall excellent package.  The additional benefits of this software include a link with the tax and Human Resources (HR) system. So far, Remote has optimised payment processing and management in over 170 countries.  Pricing At present, Remote offers a range of pricing options, including   Employer’s plan starts at $599 monthly Contractor management plan at $29 monthly Global payroll and enterprise plans at a customised pricing Pros Increased accessibility features for both employers and employees User-friendly interface Easy onboarding and offboarding process Government compliant services Excellent customer service team Cons Expensive plans for the payroll software Lacks a government-compliant system Poor customer service Integrations Some top companies supporting integration with Remote include BambooHR, Greenhouse and Bob. 3. Hubstaff Hubstaff’s payroll solution is a cost-effective option that can be adopted by companies and organisations alike to benefit their payroll systems. Not only is the software cloud-based, but it also integrates with other third-party applications looking to simplify their employee management processes. Additionally, the detailing and customisation features are sure to leave a mark.  Pricing Hubstaff offers three options: Hubstaff Time, Hubstaff Desk, and Hubstaff Field, at different prices. The fourth plan is open to enterprises looking for a customised pricing plan. Pros Offers a 14-day trial option Allows for timely and accurate payments Supports multiple currencies Offers seamless payroll reporting Provides relatively affordable pricing plans Cons Increased chances of software crash Limited integration with third-party applications Lack of customisation in payroll  Integrations The add-ons available for Hubstaff in payroll systems include Bitwage, FreshBooks, Payoneer, Quickbooks, Gusto, Paypal, and Wise. 4. Performly Payroll Performly Payroll is an established payroll management system offering businesses an option to simplify their payroll process. Performly helps resolve errors by counting an employee’s working hours. In addition, it also helps country-wise users and businesses maintain their taxes per the ongoing tax mandates. Pricing You can access Performly Payroll for free, meant for trial users. Based on their experience, individuals and businesses can choose from these pricing plans. Payroll plan for a single user starting at $1 Team + payroll plan at $1.5 per user HRMS Full Bundle Enterprise + Payroll + Talent at $7 per user Pros Availability of trial option Fast payroll processing software Offers employee self-service A suite of reporting options Affordable pricing plans Cons Limited customer service and support options Erudite feature list Tricky customisation features Integrations Currently, Performly integrates with Performly Intra, an in-app software service provided by Peformly. 5. Keka Keka is a growing payroll software management system aimed at overcoming the lengthy process of manually processing payments. One of the striking features of Keka includes a unified and straightforward interface. In its short growth span, Keka has managed to integrate with leading software integration services like Quickbooks. Pricing Keka’s HRM Payroll software offers you the option to pay for  A foundation plan starting from $84 monthly A strength plan at $120 monthly The growth plan at $169 per month Blue collar pricing for employees without login access at a customised pricing A customised plan for agencies and learning management companies Pros Tracks wage payments and employee hours Employs customisation of employee salary, bonuses, and incentives Offers flexible payment options via checks and direct deposit Complies with government mandates Easily integrates with accounting systems Cons Lack of pocket-friendly plans Absence of a beginner-friendly interface Lacks technical support Integrations Keka integrates with accounting and finance options like Tally and Quickbooks for a payroll system. How Much Should You Spend? An HR payroll software can cost you anywhere between a few dollars to a few hundred, depending on the strength of your organisation. Another critical factor that plays the lead is the type of services your company is willing to invest in, which can differ.  If you handle a small business, you can expect to find even a free or inexpensive option that may suit your business best. On the other hand, larger companies may require a more comprehensive solution that can be expensive. How to Choose the Perfect One for Your Company Multitudes of payroll options exist for businesses looking to expand their payroll operations. Suppose you’re starting a small business or handling a larger company comparatively. In that case, you can use these pointers to gain a clearer idea of the type of plans provided: Pay per employee Pay per user Pay per contractor One-time payment for agencies and enterprises Selection Criteria If you’re looking at the best option at the table, ensure to pursue these services: Document management – This feature handles tax document generation, company, employer, and employee information. Onboarding and administration – According to research by Octanner, companies retain employees with an excellent first impression in the onboarding process. Hence, choosing the right HR payroll system can help simplify the process.  Performance management – Performance management software includes tracking skill matrix, goal management, reporting, and employee coaching techniques. Compensation management – This area is cut out to specifically cater to a payroll system by employing automation and allocating budget and payroll. It also plans and reports on compensation. Time and attendance management – The HR payroll software takes care of employees’ working hours through a time and management system. It also integrates with the calendar to build timely reports of employee overtime. Other factors include employee self-service systems, employee engagement, succession management, and reporting. Why Should You Use HR Payroll Software? An advantage of the HR Payroll software is evident as it can help employee morale by making timely payments. Payroll software also ensures that manual processing and overhead costs related to it are avoided. An added advantage is that it offers an upper hand to the HR management and improves their communication with the employees working with them.  If you are part of a growing organisation looking for better ways to manage HR and payroll, consider getting a Strategic HR Leadership Certification from upGrad! Opting for this HRM course will ensure you stay abreast with trending software and tools to leverage the best ones and advance on your path to becoming an HR leader! You can also check out our free courses offered by upGrad in Management, Data Science, Machine Learning, Digital Marketing, and Technology. All of these courses have top-notch learning resources, weekly live lectures, industry assignments, and a certificate of course completion – all free of cost!
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by upGrad

12 Apr 2023

Top Time Management Techniques: Functionality, Pros, Cons, What it fixes
5338
Whether in professional or personal endeavours, time management has a vital role to play in boosting your overall productivity. Time management techniques help you understand how much time you spend on one particular task and how you can utilise that time in other ways.  Being overwhelmed with work pressure and lacking time and organisation is common in professional spaces. As over 44% of employees feel frustrated due to work-related stress on their jobs, it is crucial to understand that lousy time management is one of the leading causes of this issue. This is when time management methods come in handy.  Implementing expert-curated time management techniques objectively sorts out your work schedule while offering practical ways to accomplish chores. Let’s dive into the world of effective time management techniques to enhance your work-life balance! What are time management techniques?  Time management techniques comprise a set of rules and principles that assists people in regulating daily tasks, following a healthy and productive balance across all life sphere.  Time management techniques allow you to learn a judicious use of time to evaluate, segment and implement duties at hand. Following this set of techniques is bound to bring you short and long-term results with active participation and implementation in your daily life.  The primary objectives of time management practices are:  Writing down what to do today Working on high-priority tasks  Having sufficient time for breaks Managing stress and team simultaneously Tracking projects and identifying their weaknesses Time management techniques require solid time management skills to function efficiently. This would improve your time management style and would restore your work-life balance.  Time management skills  Time management skills might sound similar to time management techniques, but it is widely different. Time management skills include several exercises one can perform to reach their desired goal. Here, we have listed some vital time management skills to boost productivity.  Setting up SMART goals: Setting up SMART (Specific, Measurable, Attainable, Relevant and Time-bound) goals is one of the best time management skills. These goals help you understand the needs of your work and how they can be achieved within a minimal time.  Planning effectively: Efficient and effective planning helps you have clear objectives for your work. It defines tasks and resources to make a concrete plan for your goals.  Managing stress: Managing stress is a significant time management skill. This helps you to map out analytical strategies and feel more relaxed while working. Since your health directly impacts your productivity, paying attention to this skill is essential.  Delegating the tasks properly: Delegating tasks can reduce the burden and evenly distribute duties among employees for optimum efficiency.  Avoiding distractions: Distractions often eat away your time. Avoiding distractions can assist you in managing your tasks efficiently, letting you work in a relaxed manner.  Focusing on one task: Single-tasking prioritises quality over quantity, which is beneficial in the long run if you’re aiming towards improved quality and efficiency.  Knowing to say no: This time management skill would help you to straighten your priorities and manage time efficiently.  Beating procrastination: This time management skill will help you cut down on procrastination and help you finish work within the estimated time.  Best Time Management Techniques  Time management skills apparently boost your productivity to achieve and cultivate results in the long run. However, it cannot be done without proper planning and methods. Here we have listed out a few time management methods with advantages and disadvantages that would help you choose wisely. 1. Pomodoro  Pomodoro consists of breaking up your work with a 25-minute working session and a 5-minute break. After every four cycles, you take up a 20-minute break.  How it works: Pomodoro helps you manage your work and breaks, improving your scheduling and enhancing your multitasking skills.  What it fixes: Ability to concentrate, improves multitasking skills and missing deadlines.  Advantages: Timely estimates your work, helps you focus and easily tracks profitability.  Disadvantage: Following the fixed intervals could be counterproductive.  2. Kanban  It is a visual time management technique that tracks your project progress. It also helps in increasing productivity and efficiency in the manufacturing timeline.  How it works: It can be used with project management software as it tracks your tasks in different columns. It determines the stages of your tasks and segregates them accordingly.  What it fixes: Ineffective scheduling, missing deadlines and multitasking.  Advantages: Provides a robust visible representation and customised principles according to your needs.  Disadvantages: It does not help much in terms of priority or urgency; challenging to predict the progress without a proper time component.  3. Gettings Things Done  This time management technique helps you to brainstorm your tasks efficiently with a simple to-do list.  How it works: This technique helps you Capture, Clarify, Organise, Reflect and Engage your tasks and provides an effective solution to manage your time.  What it fixes: Ineffective scheduling.  Advantages: Keeps tasks in perspective and boosts your productivity.  Disadvantages: Does not minimise distractions, unhelpful to people who are prone to parse tasks in projects.  4. Eat That Frog  Developed by Brian Tracy, this helps you prioritise your tasks by tackling the worst, most complex tasks at first. Once you finish the worst task, it will help you move on with your day without the stress of resolving it. How it works: This works by segregating the tasks to improve productivity. The worst task would be prioritised and should be finished within a day.  What it fixes: Multitasking and missing deadlines.  Advantages: Makes other tasks easily accomplished, provides motivation and energy, and makes choosing priorities easier.  Disadvantages: A demoralising start of the day; it could be considered rigid and impractical.  5. Timeboxing  Created by James Martin, this technique helps you to do activities within a specified period and then pause the task once the time runs out.  How it works: Finish your tasks within a specified period and stop once the time is up.  What it fixes: Ineffective scheduling, missing deadlines and skipping breaks.  Advantages: Helpful for many small tasks, helps adhere to deadlines, does not allow multitasking.  Disadvantages: It could be very counterproductive, and wrong calculations can prove ineffective.  Check out our free courses related to upskill yourself. Which one should you pick?  The best way to pick your choice of time management technique would be to analyse the nature of your work. Pay special attention when evaluating benefits and disadvantages since a wrong choice can backfire to trouble your work-life balance.  The above time management techniques are considered some of the most primal and effective time management methods. From regulating office work to balancing leisure time at home, these time management techniques are accurately curated to target diverse settings with their expert-led principles guide.  upGrad’s Executive Post Graduate Programme in Human Resource Management  If you are looking for personal and professional development and creating a positive work culture in your organisation, check out upGrad’s Executive Post Graduate Programme in Human Resources Management course.  The course is hybrid and is specifically designed for working professionals. There are more than 8 case studies and assignments which would improve your executive skills and time management. While working on this course, you will also get to work on various Capstone projects to boost your skillset significantly.
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by upGrad

03 Apr 2023

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