The global human resources industry witnessed tremendous transformations in the last year. Human Resource professionals wear many hats and complete a lot of responsibilities from recruitment to retirement. Executing the human resource department and enforcing policies in any company has been an essential concern for HR. Though, the task doesn’t end here. The department is always inundated with multiple duties including compliance processes, talent acquisition, payroll processing, employee retention programs, talent management and many more.
Amid the chaos, HR professionals don’t get enough time to deal with the common issues that are important to addressee for laying the foundation of a smartly managed organization. With technological development at its peak, job roles and hiring process have changed at a markable pace. On the back of this outstanding innovation, it is expected that by 2025 the global human resources management sector will reach a whopping $30 billion. But there are many trends that led to growth and the challenges in the sector, some of them are given below:
Managing the Progressive Change in Business World
There is an instant boom in business when, it comes to opportunities brought forward by globalization, technical growth and other factors. However, this is also leading to many interventions in terms of restructuring, turnaround, mergers, downsizing, etc. Research has clearly shown that the success of these interventions is heavily dependent on managing the people issues in the process. That is why HR has a pivotal role to play here and it is going to a hard stone to break.
Creating a Culture of Continuous Learning
Today, a lot of employees leave their jobs due to of lack of development opportunities in the company. Training is the golden draw card for keeping employees stimulated, loyal, and engaged in the work. But it is also important to provide relevant learning opportunity because, when training is relevant to their jobs, includes engaging content and is available in formats that enable flexible learning. Training should run on a continuous basis for the business to remain competitive and keep growing, so employees can often become bored or overloaded. Among all the human resource challenges, learning opportunity is the one that is arguably the easiest to address.
Developing Leadership Qualities
Developing Leadership is essential for the organization as well as individual growth. But it is sad that it has given less attention at the organizational level. In a company, leadership is discussed on the basis of traits and certain qualities, where it is more based on knowledge. The challenge for HR professionals here is to develop qualities in individuals, who have performance potential on the basis of the past record and knowledge-based expertise into business leaders by imparting them with the required soft skills and expertise.
Employee well-being and mental health
Maintaining the health and wellness of employee is compulsory to keep productivity high and company growth. While it is a piece of cake to identify the physical health, but mental health also will need to be on the minds of benefits managers when they put policies and perks in place. To resolve mental health issues, the employer needs to comply with the diverse laws that come into play when dealing with an employee that has a mental health problem such as FMLA and ADA. Apart from the all benefits package with access to substance abuse services and behavioural health treatments, an employer needs to consider employee assistance programs.
Increasing Challenges in Managing Remote Team
Remote working or working from home is one of the biggest revolutions in the contemporary world. But it is creating an obstacle for HR professionals a lot. They need to deal with it in the workplace appropriately. It is also expected that there will be more than a billion people, who will start working virtually in the coming years. However, there are numerous collaborative software launches or new technologies for video conferencing coming up which support employees to do their job from remote locations, it is going to be very strenuous HR professionals.
So these are the major business challenges facing HR directors in global companies. Additionally, some of the other sufferings of HR directors are about continuing to create a global mindset and leadership ever more deeply into the organization and building a much better linkage between their international mobility and global talent management functions.