What is Human Resource Management?
Human Resource Management involves recruiting employees, imparting training, providing adequate compensation, ensuring their safety, etc. Human Resource Managers act as a link between the organisation and employees, informing the employees about the goals set by the organisation and taking complaints of employees to the management.
What are the roles and responsibilities of Human Resource Managers?
Human Resource Management is quite an exciting field. The role and responsibility of being a Human Resource Management can be described below.
1. Hiring and training of new employees
One of the main jobs of HR Managers is to recruit new talent into the company. They decide on the number of rounds of selection procedure to be conducted before the final selection of the employee. They then train employees in their respective jobs for which they are hired.
2. Providing incentives to the employees
It is the duty of the HR Manager to decide upon the perks and incentives to be offered to the employees for their work. It motivates the employees to do even better and enhances the company’s growth.
3. Providing valuable feedback to the employees
HR Managers give valuable feedback to the employees on the quality of the work performed. It enhances the efficiency of employees and motivates them to do better the next time.
How to become an HR?
HR is becoming a famous career path due to its excellent career opportunity and steeper learning curve.
The steps to becoming an HR are given as follows.
Step 1: Earning a Bachelor’s degree-
Getting a Bachelor’s degree is necessary before venturing out into Human resources. However, it is not necessary to get a degree in Human Resources; degrees in any related field, such as Finance, and Management, are sufficient to enter into the field of Human Resources.
Step 2: Obtaining work experience:
A relevant work experience always adds weightage to your resume and increases your chances of getting hired.
Obtaining a Master’s degree is not compulsory but can act as an added advantage in your career. It also strengthens your knowledge and increases the chances of you getting hired.
Top Human Resource Challenges in 2022
1. Prioritising mental and physical well-being
With increasing awareness regarding physical health and mental well-being, the need for aspects other than monetary compensation will have to be taken care of by the companies, some of which include workplace safety, manageable levels of stress, shorter working hours, etc. It will be a challenge for HR managers to create a conducive environment for work and maintain the same revenue levels as before.
2. Getting the right talent at the right time
It is becoming increasingly difficult for companies to fill vacant positions with talented and able individuals. With many employees resigning, hiring people in a shorter period is an arduous task for the companies.
3. Building critical skills
According to the report by McLean & Company, many industries are experiencing a skills gap. HR managers need to impart skills training to the new employees to make them adept at their job.
4. Having excellent future leaders
There is a shortage of excellent leaders in the industry. Having great top management is essential in ensuring the growth of the company. HR needs to have strategies to conduct training programmes for the top-level management to equip them with the desired skills.
5. Improving Diversity and Inclusion
Creating an inclusive environment is one of the topmost HR issues of 2022. Diversity, Equity, and Inclusion should be given preference by the HR managers in 2022.
6. Work from home
As many companies, after the pandemic, are giving employees the option to work from home, it is becoming necessary for the managers to set up remote work. They will focus on optimising employees’ productivity and maintaining the revenue as before.
7. Ensuring great experience for the employees
Employees nowadays prioritise a healthy working experience, opportunity for growth, and monetary compensation. It becomes the responsibility of the HR managers to ensure that employees stay in the job by thinking of ways to enhance their job satisfaction.
8. Improving change management
Implementing organisational changes on a large scale is not an easy task. The pandemic has brought many changes in the existing organisational structure, such as a hybrid work mode. It is the responsibility of HR to ensure that the change is carried out smoothly in the organisation.
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9. Identification of skills needed in the near future
HR teams create training programmes to equip the employees with the desired skills. They need to identify the skills that are currently in demand and will be in demand in the near future and prioritise the others. This will help save time and resources for both the organisation and employees.
10. Looking for efficient training practices
It becomes the responsibility of the HR managers to look for efficient training methods to teach employees new skills in an efficient manner. This is necessary so that the employees evolve with the evolving nature of the business.
If you are interested in making a career in the field of Human Resource Management, you can check out the Executive Post-Graduate Programme in Human Resource Management offered by Loyola Institute of Business Administration (LIBA), the third-ranked college in the country. It provides you with a great learning experience with the help of live sessions, case studies, and assignments. There are also weekly doubt sessions and practical projects to help you clear your queries and enhance your understanding.
Human Resource Management has seen a significant rise in popularity in recent years. Due to the incorporation of new companies and expansion of the existing ones, there is an increase in the role of HR managers. The employment of Human resource Managers is projected to grow by 9 per cent in the decade from 2020-to 2030. Hence, youngsters prefer the role for the high monetary compensation and great professional scope in the future.
What is the average salary of a Human Resource Manager?
The average salary of an HR manager is INR 8 LPA.
What are the main areas of Human Resource Management?
The 5 major roles in the field of Human resources are Talent Management, Compensation and Benefits, Training and Development, HR Compliance and workplace safety.
What are the skills needed to be an HR Manager?
The job of an HR manager is quite dynamic. It involves meeting different people and formulating plans. The primary skills which are desirable in an HR manager are communication skills, presentation skills, and teamwork, to name a few.