Challenges For HR In 21st Century

Hi
I want to Know the Challenges for HR in 21st century
Thanx
Vinayak

Hi Vinayak,
I think the challenges for HR professionals in 21st century would be the following:
Attrition- reasons could be any...better money, challenging profiles, big names, rift with the boss etc.
Developing leaders- I think with changing times, the leaders will have to adopt a more participative approach in dealing with subordinates. I think HR will have to understand the changed psyche of the new generation and conduct leadership programs in line with that for seniors.
Understanding the tangible & intangible benefits that employees seek & appreciate.
A little less moral policing from HR in not so important issues since I think its important for us professionals to develop good relationships with our people .
And yes, standardising compensation plans by not only comparing with with the industry but also other relevant industries.
I could think of only these many challenges. If I come to know more I will surely let you know.
Regards,
Urvashi

Dear All,
I can add few more i.e.
a) Human Resource Accounting
b) Training Effectiveness,etc.

Hi Urvashi
Thanx for the imp. feedback
As u say Employee attrition rate ,it is almost true for IT companies now a days its very difficult to stop it coz high packages ,five day working style attracts employees .For manufacturing & Enguineering Industries this rate is low. As a HR person What I think if we are demanding for a bond of 3 to 4 years & give better career development we can stop it for a certain level ,But i dont konw how much it would succsesful for todays competative world .
OK Thanx
Vinayak
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Hai
Can you please explain how Human Resource Accounting is the tool for this
Regards
Shalini