Current Trends in Hr Presentation

7/31/2019 Current Trends in Hr Presentation

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Current Trends in HR:

A New Perspective

Presented by

Gurudatt Somayaji

&

Likith Raj

II Year MBA

JKSHIM-NITTE


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Current Trends

Rising cost ofbenefits,especially

health care

Competitivepressure onincreasingemployee

wages

RisingCompensation

Costs


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Current Trends

DevelopingHumanCapital

Managingtalent

LaborShortages

HigherEthical

Standards


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Current Trends

A move toward

single software

platforms

Use oftechnology tocommunicate

with employees

Evolution of newtechnologies

Harnessing New Technology


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Current Trends

ManagingtheChanging

Workforce

Increaseddiversity in the

workforce

Work-lifebalance

Increasedvulnerability of

intellectualproperty

Changing workpatterns 24/7availability, etc.


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Rising Compensation Costs

Rising cost of benefits, especially health care

Health care costs for most employers is expected to be

around 7%, a moderate increase compared to previous

years


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Employer Responses

Focus on changing employee behaviors

Wellness programs

Smoking cessation efforts

Education of employees on health care options

and associated costs


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Employer Responses

On-site medical clinics are growing in popularity

Large companies staff clinics with own employeeswhile smaller firms contract out to nearby clinics

Help provide primary care to workers at low or nocost

On-site clinics lessen time employees spend awayfrom work.

On-site clinics expanding to include rehab services,dentistry, X-ray and lab work

Forms inviting specialists to come on-site and offertheir services.

Clinics moving into more active management ofworkers' health conditions


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Employer Responses

Putting health care into employees hands

As health insurance costs continue to rise,

employers are adopting a controversial new

approach: ending group coverage and giving

employees $50 to $200 or so a month to help buy

their own health care in the U.S.


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Key Drivers of Success

Better communication of performance standards with alllevels of the organization

Clearly Specify Incentive Measures

Organizational measures: service quality

teamwork

income growth

cost savings

Individual measures: based on established performance goals within

individual areas of responsibility


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Current Trends

Developing Human Capital

Managing talent recruitment, development, andretention of the best workers

Employers need to find innovative ways to brandthemselves, setting them apart from competitors andbecoming an employer of choice

As talent becomes scarce, development of currentemployees for promotional opportunities


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Labor shortage finding the right talent

Statistic: By 2020, gap between available and requiredskilled workers is projected to be 14 million

Use of e-recruiting and non-traditional labor pools

Establishing selection system geared to retention: betterskills assessment, knowledge, and fit for jobs


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Higher ethical standards

Greater focus on trust and integrity at all levels

Regulatory compliance issues


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Continued


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Current Trends


Use of technology to communicate with employees

Company intranets

E-Newsletters

Company emails


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A move toward single software platforms

Integrated HRIS

PeopleSoft

SAP

Oracle


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Perhaps most significant development is the use of

organizational intranets

An intranet is internal network that makes use of WorldWide Web technology (browsers, servers, etc.) to gather

and disseminate information within the firm

Intranets may be linked to the external Internet, but aresecured so that only authorized users can access

information on internal components


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Evolution of new technologies

Employee Self-Service and Data Exchange

Capability to maintain personal data

View context-specific information

Initiate benefits transactions

Internet-based tools are quickly becoming the preferred method foremployees to execute benefits transactions


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Current Trends

Managing the Changing Workforce

Increased diversity in the workforce

Creating workplace that respects and includes differences

Recognizing unique contributions individuals with

differences can make

Creating work environment that maximizes potential of allemployees

i h h i kf


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Work-life balance

Employees experiencing burnout due to overwork and

increased stress in nearly all occupations Rise in workplace violence, increase in levels of

absenteeism as well as rising workers compensationclaims

Causes range from personal ambition and the pressureof family obligations to the accelerating pace oftechnology


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Work-LifeBalance

According to study by Center for Work-Life Policy, 1.7 million people

consider their jobs and work hours excessive

50% of top corporate executives leaving current positions

64% of workers feel work pressures are self-inflicted, and taking a

toll

In the US, 70%, and globally, 81%, say jobs are affecting their health.

Between 46% and 59% of workers feel stress is affecting their

interpersonal and sexual relationships.

Males feel there is stigma associated with saying Icant do this


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Structural shift from the manufacturing to theservice sector

Growth in part-time employment

Rising prominence of women in the workforce

Growing importance of temporary employment andself employment

Adoption of flexible working practices, such as job

sharing and the increasing opportunity to work from

home.

l


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Conclusions

Exciting time for HR professionals

More emphasis on cost containment and control

Focus on employee responsibility and

involvement at work

Greater use of technology in communication with

employees

More flexible patterns of work


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Current Trends in Hr Presentation

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