Future of HRM:
Corporation of Tomorrow
In the future, there is a two-fold effect on Indian Industries, i.e., (i) Generation of employment, and (ii) Industrial restructuring.
We assume that in the future workplace, which may come true by 2020:
* A majority of people worldwide will be connected through the IT infrastructure.
* Connectivity is the new frontier on the information highway to connect with one another.
* There are various factors on which the growth and expansion of connective technology will depend.
* The basic organizing unit in the workplace will be one individual engaging in business through connective technology.
* A learning culture will be fostered by the technologies that will serve, entertain, and help people do their work. It will be a basic workplace skill.
* Power in the organization of 2020 will be in a flat structure.
* Culture and language will still move between the poles of traditionalism and modernism.
Information Age
The information age has heralded a new way of doing business. IT has the power to change the most well-entrenched business paradigms. It has the power to link and connect people, and enable the exchange of products, services, and capital in an entirely different manner than in the past. IT has increased the efficiency of the human resource functions and reduced the burden of administrative work in the HR department, at the same time helping to increase productivity.
Virtual Corporations
A virtual company is usually a highly networked organization that extensively contracts out activities that were once performed in-house, allowing both speed and flexibility. The key to success in a virtual corporation is connectivity, i.e., the ability to network with a large number of independent companies.
Social Responsibility
Change in technology results in a change in the structure, design, and environment of an organization. It has four stages: (i) Acquisition of technology, (ii) adaptation of technology, (iii) utilization of technology, and (iv) improvement and development of technology.
Organizations of the future will operate in a workspace, which is likely to be much more broadly defined than it is today. Connectivity within and outside the organizations will create a world virtual reality organization.
Environmental problems fall into two broad categories, i.e., (i) Problems that arise out of poverty and inadequate development, and (ii) Problems that arise out of the process of development (threat of earthquake, deforestation, pollution of groundwater).
Conclusion
The traditional functions of HRM now need to be strategically directed towards developing and sustaining organizational capabilities through activities that overlap with traditional business functions such as finance, marketing, and non-traditional activities, such as knowledge management. The Human Resource Information System has great significance in every sector. It can play a virtual role and help the communications process in the organization. Most importantly, organizations can hire and retain the top performers, improve productivity, and enhance job satisfaction of the employees. HRM has the responsibility to maximize efficiency and profit, but in the emerging scenario, the role of HR manager is changing rapidly due to changes in government policies, unions, labor legislations, and technology. The trends have taken place in the organization, human resource planning, job design, motivation, recruitment, skill development, and employee relations. The challenges can be faced by HRM effectively if proper strategies are implemented. Hence, the role of HRM will be more significant in the future due to the emerging scenario.