I am also an HR professional, having ventured into HR after working in hotel operations. You are right in surmising that companies are looking for people in marketing, finance, operations departments, and so on. While I may not have heaps of experience, I can put forth a few observations and questions that hopefully might help you. Here goes:
1. Pursuing an MBA
You are pursuing an MBA from which institute? What is your motivation behind doing an MBA? Is it getting a good job, creating a knowledge pool, a desire for education, or other? Which semester are you studying in? Whatever may be the answers to these questions, you need to understand that a lot of education happens in an MBA course through self-motivation. You will have to talk to your seniors, peers, and professors to get various perspectives. Reading books and participating in competitions (of B-schools) will also help in widening your spectrum. It is these things that will make you employable. It should be noted that in this time of quick returns, companies don't have time to train people, especially new talent in the company.
2. HR as a Support Function
HR is and will be a support function for a company, which is typically seen as a cost center with no direct profit contribution. Whereas most other departments directly impact sales and hence money influx. Moreover, a company's HR department is relatively smaller than any operational department, and hence they naturally require fewer people in HR.
3. Credibility of the MBA Degree
The MBA degree itself lacks credibility nowadays. Many industry experts feel, and even I agree, that there are so many MBA colleges and there is a general doubt on the employability of many MBA students.
4. Aligning with the Industry
What to do in this case is aligning yourself with the industry. No matter which semester you're in, start doing internships with companies. It will serve two purposes - you will get to see HR function live, although from a grassroots level, and you will get to network. These are my - if flawed - opinions. Think about it.
Regards,