Before We Begin….  Punctuality  Proxy  Text Book and Course Outline?  Groups  CRs  Case Presentations  Evaluation Components:  Case/Reading Presentation : 10  Term Project :  Class Participation : 10  Mid Term : 20  End Term : 40  Total: 100 Marks

The Management Process  Planning  Organising  Staffing  Leading  Controlling

We Work in a VUCA World

Trends Shaping HRM  Technology – SMAC, HRIS, HR Portals  Globalisation and Competition  Indebtedness  Trends in Nature of Work – High Tech Jobs, Service Jobs  Knowledge Work and Human Capital  Diversity, ageing workforce, Millenials

The New World of Work   Barriers between work and life all but eliminated – hyperconnectivity to work   Networking tools like LinkedIn, Facebook, Glassdoor – easy access to opportunities and information   Balance of power in employer-employee relationship has shifted   Increasing proportion of workforce now temp, part-time, contractual   Rise of the millennial – with radically different aspirations   New cognitive technologies are displacing workers and reengineering work

Top HR Concerns of European and US CEOs (In order of frequency)   Talent   Organisational Effectiveness   HR Excellence   Succession Planning   Organisational Culture   Cost Control   Employee Engagement   HR Alignment

What HRM Needs to Address (CHRO’s Perspective, 2014, Economic Times)   Foster productivity, innovation, efficiency – horizontally, vertically – Focused capability intervention tightly tied to business outcomes   Engaging All   Leadership development – bottom up   Preparing bench strength for tomorrow – succession and talent pipeline   More power to line managers

What HRM Needs to Address (CHRO’s Perspective, 2014, Economic Times) – Cont’d   Diversity – more women in workforce, flexibility even for men, technology for the new generation workforce   Greater transparency at work place   Use More Performance Analytics – in the range of activities from talent acquisition to management   Aligning Skills to Business Strategy – Technical, Business and Leadership   Operations in Focus – HR Operations to adapt and become more accountable to business

Important Metrics for Assessing Health of Human Capital (CHRO’s View)   Retention   Engagement/Climate   Succession   Bench/Pipeline   Business/Person Ratio   Internal/External Hire/Promotion   Diversity

The Deloitte Report 2015 – Global Human Capital Trends   3300 Business and HR Leaders from 106 Countries   Assess the important challenges in the area of human talent facing your organization   Assess how capable do you think your organization was in managing those challenges   Capability gaps

The 10 Trends – In Order of Perceived Importance 1. 1.Culture and engagement: The naked organisation 2. 2.Leadership: A perennial issue 3. 3.Learning and Development: In the spotlight 4. 4.Reinventing HR: An extreme makeover 5. 5.Workforce on Demand: Are you ready? 6. 6.Performance Management: The secret ingredient 7. 7.People Analytics: Not much progress 8. 8.Simplification of Work: The overwhelmed employee 9. 9.Machine as talent: Cooperating with machines People data from outside: Social netwoks, recruitment networks (KLOUT profile)

Five Significant Findings on Trends   Softer areas such as culture and engagement, leadership, development have become important – across geographies and industries   Leadership (32%) and development (x4) have dramatically increased in importance though capability gap has widened   HR Organizations and HR Skills are not keeping up to the business needs   HR Technology systems are a growing market, but their promise is going to remain largely unfulfilled   Simplification is an emerging theme – HR is part of the problem

We Work in a VUCA World   Barriers between work and life all but eliminated – hyperconnectivity to work   Networking tools like LinkedIn, Facebook, Glassdoor – easy access to opportunities and information   Balance of power in employer-employee relationship has shifted   Increasing proportion of workforce now temp, part-time, contractual   Rise of the millennial – with radically different aspirations   New cognitive technologies are displacing workers and reengineering work