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Human Resource Management is a process that helps to manage the human talent to accomplish the objective of an organization.
People play a crucial role in an organization. They provide inspiration,vision, motivation that help an organization to alive. People provide the skills and competencies that are necessary to achieve an organization goal. Moreover, they offer the labor that produce or manufacture the goods and services that an organization sells or supplies.
(PEOPLE, n.d.)In this way, as per my perspective, people are always an organization’s most valuable assets. Apart from this, following is the list of some other important assets of an organization:
Management has facing numerous difficulties or challenges. Following are the fivemajor issues or challenges that Human Resource Management facing nowadays: Changes in local and Global marketplae: it is important for a business to change the strategies, structure, and internal process with the passage of time to expand a business. Most of the employees face difficulty while coping with these kinds of changes. Thechanges in management also adversely impact the productivity of an organization. (10 of Today’s Common Human Resource Challanges, n.d.)
In this techno-savvy era, technology is changing rapidly. Most of the organizations feel difficulty to upgrade technology and investing amount on new technology. It is a challenge for employers to guide employees about new technology and also for employees to learn updated technology that also effect the productivity of the organization. (10 of Today’s Common Human Resource Challanges, n.d.)
Recruiting Talented Employees: Every organization wants talented and skilled employees that requires huge investment of time and money. It is difficult for a recruiter to keep balance between business running and hiring a right people at the right time. It is not possible to know whether a candidate will actually be fit until they have worked for a organization. (10 of Today’s Common Human Resource Challanges, n.d.)
It is easy to hire employees, but it is difficult to retain skilled employees. Everybody wants to retain skilled and experienced employees. Small companies do not have enough budgets to attract skilled employees by retirement plans, expensive insurance plans, financial and non-financial incentives. On the other hand, large companies have enough budget to attract skilled employees to migrate from small to big organization. (10 of Today’s Common Human Resource Challanges, n.d.)
Nowadays businesses have employees from different generations. Employees belong to divergent ethnic and cultural differences. The different demographics and diversity is continual challenge for small business.it is difficult to handle employees from different cultures, ages and religion. (10 of Today’s Common Human Resource Challanges, n.d.)
This diversification creates clashes between people that influence the work environment negatively. (GREEN GARAGE, n.d.)Canada’s attitude towards diversification and multi-cultural society positively impact the economy of the country. Prime Minister Justin Trudeau in his speech on the World Economic Forum in Davos, Switzerland, in January, declared that diversified Canada is a way of life and the secret to Canada’s success. (STIRK, 2016)
For Example; According to recent study by the Peterson Institute found that 22,000 companies whose executive management was gender-diverse realized 6% higher corporate earnings. (STIRK, 2016)
It is important to know some people related concerns, if any organization wants to start business in china. These are main people related concern:
It is important for every organization which is planning to expand business in new market or country to consider the people-related issues of that country for achieving a goal successfully because if human resources are best then everything is best.
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