What are the things to look forward to in the human resource industry? Read the press articles below to get insights on the current trends in the industry and their impact on work, employees, and workplace.
HR analytics: rise of the machines in HR.
Not long ago, marketing and finance industry experts were debating whether or not collection and analysis of big chunks of historic data will be of any use for future decisions. Currently, big data analytics has made its impact felt not just in the above two but in almost all data-oriented industries. However, human resource management has by nature been more people-oriented. Thus, it has not seen data analytics being used as much as the other industries. Even those companies which are sitting on large heaps of data are not utilising it to the best possible extent. So, does data analytics fit in HR management?
HR analytics is defined as an approach to utilise human resource data maintained by the organisation to measure the direct or indirect impact of HR campaigns on important business outcomes. Even without using HR analytics, businesses spend a significant amount of money on HR functions. But in absence of solutions which can measure the effectiveness of HR decisions, HR leaders would always be shooting in the dark. HR analytics helps in predictive analysis to make and execute the decisions in a rational way
Read more at Financial Express
Recruitment, HR firms hope budget will push for job creation, skill development.
The recruitment industry hopes the Budget will address issues of skill development in the backdrop of the Centre’s focus on ‘Make in India’ and the revival of the manufacturing sector.
In the first full-fledged Budget the new government has an opportunity to address the challenges of a widening skill gap, promote capability development, and foster higher education and research under one umbrella programme, according to Moorthy K Uppaluri, CEO, Randstad India, a recruitment company.
Read more at The Hindu Business Line
HR should see itself as a biz to provide solutions for cos.
Minding the gap for a new-age HR avatar: The emerging demands of HR are exacting. HR executives must speak like a CEO and coach like a CFO to add credible business value, break HR silos and drive the organisation’s culture. As a highly business-savvy and HR technologist hybrid, the HR professional must acquire an in-depth understanding of business levers and organisational dynamics for ‘equal eye’ stakeholder discussions. And they must leap the gap in technology and analytical skills to have an agile, tech-savvy thought process
Read more at The Times of India
Human resource alignment with organisational strategy a business imperative.
It is a no-brainer that HR needs to be aligned with business; however a recent survey on HR transformation in the IT sector, conducted by Randstad Technologies reveals a startling insight. Out of 56% of the HR leaders from the IT sector in India who mention that HR is fully aligned with their organisation's vision and strategy, only 29% thought that they own a place at the table and are accorded the status of 'strategic partners'.
Moorthy K. Uppaluri, MD & CEO, Randstad India said, "The IT sector, one of the largest employers of the country, is a significant contributor to the GDP. It continues to be a critical driver for the knowledge-driven Indian economy, where the dependence and cost of the 'people' component has significantly increased".
Read more at The Times of India
Hr is the key to an organisation’s success.
Human resources' main role is to enhance employee performance and engagement for a company to boost productivity and achieve more. HR services cover workplace management and employee development within the organisation.
Read our article on skilling, reskilling, and upskilling to prepare your business for future success. View our job openings in human resources if you’re interested in exploring the industry.