"In 2010 more than 10 lakhs people have joined the various industry and this is the biggest employment figure in the history of India. So responsibility of HR has increased accordingly"
Today Indian economy is growing at a rapid pace but the scarcity of Leaders at enterprise level is haunting the growth of economy. Most of the people in various industries are complaining that Indian industries are not producing the executives comparable to the International Norms and decision-making capacity of these executives are being questioned every where. Due to this Indian Industries are in dilemma and are in state of deep thinking to renovate all HR policies.
For sustainable growth of any Industry, HR should keep eye on four things, i.e
- Leadership
- Talent
- Working ethics and culture
- Administration and operations
These are the four fronts at which HR of every company works and these are the same topics that nail these HR practices down. Due to this time has come to change the archaic practices and it is imperative to set a right HR architecture in the various industry. Even there are no fix thumb rules in HR world and so Industry must tailor some value preposition to save the credibility and relevance of HR practices.
For development of HR, More and More investment is needed in this area to tackle market. HR needs to be both flexible and adaptable in its operation, as human strategy experiences a lot of outside influence in terms of talent war, globalization, technology, and environment.
Today role of HR has been changed from the initial days because of changing nature of business and pattern of consumer. Markets are changing and international boundaries are disappearing due to strong globalization. this is adding more people for participation in the business and enterprises at global level and this chunk (people) have started thinking about profit and loss of the industry and also of their business.
Due to this organizational ethics have seen a great change in its operations and architecture of administration. Today employers are looking for more creative and specific talent because organizations are making short-term strategies rather than long-term strategies, Today role of HR has changed and responsibilities have increased to meet the required target. HRs are using many innovative ideas to increase the productivity by reducing the real cost by choosing right person in right operations to ensure the success of organization.
To build business capability, it is important to start looking and thinking differently, where HR coordinates with the business expectations, understands the needs of the client and becomes more accountable in its implementation, with the focus on outcome. But in this way, HR should understand and should focus on becoming a trusted advisor. The impact and influence on the various levels of the organization need to be understood and addressed while keeping the customer in focus.
Industry should give stress to bring in innovation and strategy to face emerging markets, with flexibility in structure. For this organizations should create a governance model that have focus more on impact rather than process and this practice will ensure better business in term of people association along with the money. Because Business is not known for the money but for the better relation with the client and associated people.
The spiritual quotient, emotional quotient and intelligence quotient are three most important factors for the success of HR. Where spiritual quotient ensures that commercial decision are ethically valid and are strong enough to push any business to taste the success. For all this HR system have to impart value in their employees so that they can produce profit for long time.
