The role of human resources has changed immeasurably in the past couple of decades. It has undergone massive changes to become what it is today. Given this transformation, the challenges that arise are also new and unknown at times. Human resource management has always had inherent challenges because it is related to people like no other function is. The accountability and need to perform as well as deliver is high, and yet the results or goals are usually intangible. That in itself is the biggest challenge. The HR courses online are fairly clear in terms of the challenges.
Developing the right set of leaders – Leaders are different today than they were some years ago. They need a totally different set of competencies and behaviour to succeed in the current business environment. To support their development HR needs to constantly track what kind of competencies and skills are needed. This can be a challenge because of the rapid changes in our external and macroeconomic landscape.
Reskilling and Upskilling – Employees are being reskilled and upskilled at an extremely fast pace today, in order to keep them employable. The HR teams are working overtime just to try and ensure that the speed at which business needs are changing is matched by the speed at which employees become ready for it. It is a hugely challenging task to carry out this process many times over for the same set of employees.
Identifying the motivators – The demographics of the workforce is very different today. What motives one employee or one segment of it, might not apply to another person or segment. Finding out the motivators and then working with those to see how to incorporate them into an employee’s overall experience at work, is the challenge facing HR. This is also linked with the compensation and benefits that are provided to employees and which means that those also undergo redesign from time to time. That is an additional challenge that will crop up for this aspect.
Hiring the right people – Rehiring new talent within short spans of time, for the same roles, is a huge cost. HR has to make sure that they hire the right people in the first time itself, to ensure that there are no early exits that take place. When that happens, and new people have to be hired immediately to replace those, it becomes a big investment and companies can be under financial stress due to that.
These are a few of the major challenges that HR faces in our current corporate world. They are constantly grappling with these issues and finding innovative solutions for the same.