Emerging Trends in Managing Human Resources

If we trace back the history of business environment, in the early years, trading patterns and markets were stable, technology was static, customers were passive, speed in getting to market was secondary, competition was limited to sectors and regions, and hierarchies were generally accepted in all walks of life. No more, since 1960’s, America and much of the rest of the world has been almost continually buffeted by change. Customers demand that businesses do it better, faster, cheaper; employees want to control more than the “Stop” button on the assembly line. The twentieth century saw nations around the world become part of the global village, with trade barriers between them reduced or removed completely. Globalization of trade and economy are taking deep roots in India. The holistic paradigm shift to a single global company has opened up new economic opportunities. Events of the last five years of the previous century have focused our attention on knowledge industries. Quality human resources have therefore become an important base with which to respond to the emerging environment. The knowledge workforce in particular has a vital role to play in the emergence of the digital economy.

A look at the trends in managing people in this dynamic industry reflects that Attracting, Managing, Nurturing talent and Retaining people has emerged to be the single most critical issue in lieu of the enormous opportunities spun off by the market. The new avatar of talent is the knowledge professional who is innovative, business savvy, quick on the uptake, has an instinctive ability to network, and possessing unbridled ambition. They are propelled by an urge to experiment, scan new avenues that can spur their creativity. The knowledge professional will gravitate to an organization that is flexible, has strong values, a robust performance ethic and provides challenging work on latest technology. This has led to companies proactively taking measures on three fronts. First, companies create an organizational ambience where talent can bloom. Second, they put in place systems that help unleash their potential and third, they build a reward and recognition mechanism that provides value for people.

Profound systemic changes have been seen in the way companies are structured. The concepts of leadership and managing people gave undergone a radical rethink. Cubicles, hierarchies and rigid organization structures of the past, have now given way to open work environment, flat structure with informality being a general rule and empowerment of individuals. Today work itself is centered around projects, which have virtual teams working on them. This work structure has led to a culture of flexi time, round the clock accessibility to the workplace. Also catching up fast is the trend of workstations at home, remote access, video-conferencing and reporting by exception. To stay one step ahead of the aspirations of their people, companies are continuously striving to provide an intellectually stimulating environment. Few examples being, in-house libraries, continuous up gradation of knowledge and skills, knowledge sharing, building relationships with academia thus enabling knowledge workers to pursue multiple careers within a single company. Coming times will see sabbaticals forming part of the organization culture, corporate universities dotting the new horizon, competing companies bunching together to setup knowledge networks.

Companies today are constantly striving towards enhancing the quality of work life and also the personal life of its employees and this does not stop with the employee buts gets extended to his / her family as well. In-house health clubs, yoga and meditation centers to relieve stress, sports and cultural activities, employee get-togethers with invitations to come over with families, day care centers and many of the like are being provided by companies.

With the increasing size of the companies, the top down communication model of yesteryears has been replaced by bottom up, cross level communication thereby encouraging people to voice their opinions and feelings. Open house sessions, mentoring, online chats on the intranet have emerged to be the communication enablers.

The new economy has given rise to a culture of working in teams. Today no job in the knowledge industry can be performed in isolation. Since working in teams is not a passing fad, companies are now designing compensation structures, which rewards team performance in addition to individual performance.

To conclude, change is here to stay, and we need to understand that all the practices that are working today may not necessarily work tomorrow. Customers’ expectations, market changes and strategic decisions will derive the tools to managing the human assets.

Keep employees' morale up in difficult times

Motivating employees is always important, but inspiring your team takes on increased significance during challenging economic times. When business results are less than promising, emotions, such as fear and anxiety, can bring employee performance to a standstill.

Here are some suggestions from the Tennessee Society of Certified Public Accountants (TSCPA) to help foster productivity, high morale and loyalty in your work force during the best and worst of times.

Give them vision.

To keep up morale, make sure employees know and understand the organization's mission, vision, values and goals. These concepts represent the organization's reason for being and, as such, help workers focus their efforts in the right direction and see that their contributions matter. Be sure they know who benefits from the work of your organization.

Don't hide the target.

Setting clear expectations is a great way to motivate employees and keep them on track. Clearly establish goals with each employee. Indicate the results you expect and how those results contribute to the overall performance of your business. To confirm their understanding, ask employees if they have any questions or need any resources to complete the tasks you assign. Finally, make sure if the organization's goals change, you let your employees know how these changes impact their roles.

Provide regular feedback.

Conducting an annual employee performance review is important, but it's not enough. Employees need to know, on an ongoing basis, when they have done a job well and when you expect better or different results. Keep in mind that the more immediate the feedback, the more effective it is. Try to catch people in the act of doing what you want and acknowledge their performance immediately.

Make employees part of the solution.

Employees need to be involved. Empowering employees to make decisions about their work and to solve day-to-day problems demonstrates your confidence in them and motivates them to live up to your expectations. Another bonus: When you make employees part of the solution, it is easier to get their buy-in and commitment for the long term.

Focus on people development.

Since most people thrive when skill building and learning are part of their daily experiences, investing in your staff's development should remain a priority. Training, career development and other learning opportunities don't have to cost a lot, particularly when you use internal resources. The best way to ensure the growth of your team is to create an individual development plan for each employee and work with them to carry out the plan.

Communicate, communicate, communicate.

You cannot overcommunicate, particularly in uncertain or difficult times. Sharing information and building your staff's understanding of what's happening in the business and in the industry is key to engaging them and to aligning their efforts and performance with the organization's objectives.

What's more, sharing information with employees sets a good example and encourages them to do the same with one another. Since not everyone processes information the same way, it's helpful to use multiple forms of communication, particularly when the information is critical.

For example, you might follow up an e-mail message with a voice-mail reminder. And don't assume that, just because a communication has gone out, that it has been understood and accepted. Instead, ask questions to confirm comprehension.

1. Don't overlook the power of praise. Recognizing and rewarding workers is one of the best ways to impact morale. Acknowledge good effort, not just results. Keep in mind that different things motivate people, whether it is money, travel, training, promotions or a flexible work schedule. The best way to find out what motivates your staff is to ask them.

2. Build fun. There are important milestones in the life of every business. Be sure to mark them. Throw a party and celebrate your workers' accomplishments. Don't ever allow yourself to get so caught up in the daily routine that you fail to see the good work being done.

3. Be positive. Every day millions of people arrive at their workplace ready to contribute their best. The attitude of business leaders can greatly impact employees. Be positive and supportive and your employees are more likely to act similarly.