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EMERGING TRENDS OF HUMAN RESOURCE WITH SPECIAL FOCUS ON IT INDUSTRY

Submitted By:
Debashish Mishra-11202202 Saurabh Singh-11202216 Pragnya Pattnaik-11202217 Ashirbad Kundu-11202235 Tripti Kumari-11202258

What is Human Resource Management?

Human Resource Management (HRM) is the function within an organization that focuses on recruitment of, management of, and providing direction for the people who work in the organization It is also a strategic and comprehensive approach to managing people and the workplace culture and environment.

Areas of Implementation
Recruitment & Selection Organizational design & development

Business transformation & change management Performance, conduct & behavior management Industrial & employee relation Human resource(or workforce) analysis and the management of workforce personal data Compensation, rewards & benefits management Training & development(learning management)

Human Resource Management Trends


Demographics Characteristic of population/workforce Diversity
Refers to variation within population/workforce Skills and qualifications Refers to individual skills of professionals.

HR trends in Pre-Liberalization Phase


Liberalized government policies led to diversification of workforce and cross culture took place.

HR trends in Post-Liberalization Phase


Large population of India became a part of multinational and foreign units.

Emerging HR trends in India


Highly skilled and knowledge based jobs are increasing while low skilled jobs are decreasing. Indian organizations are also witnessing a change in systems, management cultures and philosophy due to the global alignment of Indian organizations.

There is a need for multi skill development.

HR trend in Information Technology Industry


Level searches and hires by Indian companies.
Many companies are searching for middle and entry-level talent.

Indian companies are inheriting a large number of employees through global acquisition.

FINDINGS AND DISCUSSIONS


According to industry estimates majority of demand for manpower would be in the area of IT enabled services.

The Indian IT services industry was expected to focus more on strengthening the middle management cadre.

During the recovery period many companies have adopted various advanced technologies in their work like human analysis, human capital management, early warning systems and others.

Salary trend also shows that along with abundant growth opportunities, IT sector is one of the highest paying sectors.

FINDINGS AND DISCUSSIONS(Contd.)


Emerging concept of 4 Rs among HR Managers
Recruiting Signing bonus Finders fee Alumni Connections Non-techs Students Interns Retaining Retention bonus Project pay Reduce FTE Pay Telecommuting Externs Job sharing Retraining Job rotation Team Assignments Skill inventories Competency Development Certification Restructuring Broad job description Flexible compensation Programs Flexible jobs Positive problem solving spirit

FINDINGS AND DISCUSSIONS(Contd.)


No. of Engineering graduates and IT professionals hired
600000 500000 400000 300000 200000 100000 0 Engineering Graduates

IT Professionals
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FINDINGS AND DISCUSSIONS(Contd.)

Pankaj Shankar, Global Head(HR),Infogain Corporation says, "Apart from talent acquisition and retention leadership development, aligning and integrating people's performance with business goals and management of intellectual capital would also require attention of HR managers in the coming years.

IBM researchers have developed a skills planning model for optimal allocation of skills to minimize the impact of disaster at any one site.

HCL Technologies oriented itself by focusing on communications to keep employees in-the-know and maintain transparency.

CONCLUSION
Human resource management will be the key area of focus in 21st century as companies and government organization put in place strategies to cope up with the economical crises and recovery.
Human resource become one of the most essential ingredients of success in the knowledge era and a skilled-based economy.

HR managers have to take care of many things in mind while dealing with the number of people working in the organization.

CONCLUSION(CONTD..)
Emerging HR trends of IT industry cannot be managed properly by the old traditional HR techniques.

The IT industry has been devising newer personnel management/HR techniques which specifically meet needs of IT industry.

It can be concluded that Emerging HR trends of Indian IT industry are quite different from the old economy industry. HR managers in Indian IT industry must keep the sensitive nature of IT professionals and state of greater opportunites outside in mind for devising HR policies for their organizations.

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