...Capital Trends 2014 Engaging the 21st-century workforce A report by Deloitte Consulting LLP and Bersin by Deloitte Contents Introduction | 2 | 7 Global Human Capital Trends 2014 survey: Top 10 findings Lead and develop Leaders at all levels | 25 | 35 | | 45 55 Corporate learning redefined Performance management is broken The quest for workforce capability Attract and engage Talent acquisition revisited Beyond retention | 75 | | 87 97 | 65 From diversity to inclusion The overwhelmed employee Transform and reinvent The reskilled HR team | 107 | 117 Talent analytics in practice Race to the cloud | 127 The global and local HR function Editors | 145 | 146 | | 137 Acknowledgements Global Human Capital leaders Human Capital country leaders 147 | 148 Global Human Capital Trends 2014: Engaging the 21st-century workforce Introduction Engaging the 21st-century workforce S we begin 2014, global organizations have left the recession in the rear-view mirror and are positioning themselves aggressively for growth. Sluggishness has given way to expansion. Retrenchment has been replaced by investment. The need for caution has been superseded by the need to take action. Yet as the economic recovery takes hold, businesses realize that the workforce today has changed. Skills are scarce, workers have high expectations, and Millennials are now in charge. Enter the 21st-century workforce. The 21st-century workforce is global, highly connected, technology-savvy...
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...Chapter 1 Overview of the 21st century workplace - Organizations must adapt to rapidly changing society > like in 2003 there was so wireless but now its changing now most of the business rely on wireless communication - Economy is global and driven by innovation and technology > you need new original ideas (innovative) High performing companies gain extraordinary results from people working for them Interdependent, knowledge based > Depend on each other as a part of organization Study question 1 what are the challenges of working in the new economy > intellcutual capital people are the ultimate foundations of orgzanitional performances intellcutual capital is the collective brain power or shared knowledge of a workforce that can be used to create value A knowledge worker adds to Globalization . National boundaries of world business have largely dissappeared . globalizations is the worldwide interdependence of resource flows,product markets and business competition that characterisitv that characterize the new company Technology . Continuing transformation of the modern workplace throughout > the internet (having social network websites to market product) > worldwide web (exchange of stocks) > computers > information technology .Increasing demand for the knowledge workers with the skills to fully utilize technology Diversity: >workforce diversity reflects differences with respect to gender , age, race, ethnicity, religion,sexual orientation...
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...and Scott, human resource planning is ‘the process for ensuring that the human resource requirements of an organization are identified and plans are made for satisfying those requirements’. Reilly defined workforce planning as: ‘A process in which an organization attempts to estimate the demand for labour and evaluate the size, nature and sources of supply which will be required to meet the demand. Human resource planning includes creating an employer brand, retention strategy, absence management strategy, flexibility strategy, talent management strategy, recruitment and selection strategy. Human resource planning aims at fulfilling the objectives of manpower requirement. It helps to mobilize the recruited resources for the productive activities. The human resource planning is and important process aiming to link business strategy and its operation. The planning processes of most best practice organizations not only define what will be accomplished within a given time-frame, but also the numbers and types of human resources that will be needed to achieve the defined business goals (e.g., number of human resources; the required competencies; when the resources will be needed; etc.). Competency-based management supports the integration of human resources planning with business planning by allowing organizations to assess the current human resource capacity based on their...
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...A Report On HR Practices in GrameenPhone Limited [pic] [pic] [pic] [pic] HR Practices in GrameenPhone Limited Prepared For M. Nazmul Amin Majumder BRAC Business School, BRAC University Prepared By Sabit Rahman Tanim ID: 12264021, Sec.-01 MBA Program [pic] BRAC University Date of Submission: 20 April 2014 LETTER OF TRANSMITTAL 20 April 2014 M. Nazmul Amin Majumder, Ph.D. BRAC Business School, BRAC University Submission of a Report on HR Practices in GrameenPhone Limited Dear Sir, I am highly pleased to submit my report on “HR Practices in GrameenPhone Limited”. In preparing this report I have tried my level best to accumulate relevant information from all the available sources. This report attempts to describe my observations and learning during the course (HRM-502) period. I am very much glad that you have given me the opportunity to prepare this report for you and hope that this report will meet the standards of your judgment. Any limitations in this report will subject to your kind of full consideration. Yours Sincerely, Sabit Rahman Tanim Acknowledgement First of all I would like to thank almighty Allah who has given me the opportunity to complete this report. After that I would like to thank my honorable course instructor M. Nazmul Amin Majumder for his leadership...
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...of business in any nation. As such, the organizational effectiveness has to change with every new idea that brings about globalization. There are many changes in technology and knowledge in the global market, which leads to an increase in off-shoring. This causes most of the organizations to evaluate their strategies and policies with a keener eye. Many of the organizations learn how to operate in the new and the local market in which thy have been in operation for some time. Many organizations change the tactics they use to achieve competitive advantage over their rivals in the marketplace. Organizations are not only changing the structures, but also improving the work process and reallocating the workforce. The changes in an organization will often dictate the effectiveness of their goals and practices. Effectiveness in any organization means that the resources are enough to meet the needs of the consumers. The idea of managing resources is not very easy. Organizations have departments that govern these resources. It is important to note that resources are not only material but also human. The organization needs to have manpower to meet the objectives they have put in place to satisfy the needs of their target market. As such, the human resource department has to have certain policies in place to ensure that the organization is not falling short of any of the goals. In the 21st century, the significant resource in the business world is the human resource. Many managers seeking...
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...INTRODUCTION As we enter the 21st century, workforce diversity has become an essential business concern. In the so-called information age, the greatest assets of most companies are now on two feet. Undeniably, there is a talent war raging. No company can afford to unnecessarily restrict its ability to attract and retain the very best employees available. Although we all share many traits and needs, human beings are different and unique. While diversity has always existed, globalization, an increase in immigration, the sexual revolution and the output of the open formerly taboo subjects - such as living with a disability and gender preference - were placed in front -plan diversity of our concerns and the need to accept it. In the workplace, diversity encompasses elements that are evident, among other demographic differences such as gender, ethnicity and age, and more subtle differences, for example, the way we think or solve problems, social class or education. Because of the variety of backgrounds and approaches, it is not always easy for people to get along in the workplace (Diversityworld.com, 2014). However, it could be quite different. By learning to understand the challenges posed by differences and accept different points of view within your workgroup, you can use the strengths that represent a diverse team, in addition to expanding your horizons. Workforce diversity refers to organizations that are becoming more heterogeneous with the mix of people in terms of...
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...PFIZER An industry leader, an HR leader, too? November 2011 EXECUTIVE SUMMARY Pfizer, one of the global leaders in pharmaceutical industry, has also been recognized as one of the most admired companies in terms of both business and HR level. In organization’s official site, Pfizer advocates that a great amount of its achievements resides on the importance placed on fulfilling its mission and values, as well as on its dedication to hire, retain and inspire its employees by offering the best growth and development opportunities available in the pharma industry within a positive environment. Pfizer’s moto “Every Colleague, Every Country, Every Day” coupled with “Many Paths, One Passion” expresses organizational culture regarding organizational HR strategy aiming to bind its leading business position to each and everyone’s employee’s excellence. However, the changing hiring requirements, knowledge sharing, leadership style in terms of employee motivation, promotion are some of the key challenges need to be addressed by the HR strategy implementation. i. INTRODUCTION An organization’s human capital management culture should value the workforce as the key asset which will define the organization’s business profile, effectiveness and performance capacity (Champion & Hughes, 2001). Good HR strategy and practices aligned with the organizational strategy and objectives may deliver best HR practices as a route to superior organizational performance (Pilgream...
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...of light and darkness. The forces of darkness have been represented by the “Mechanical school of organizational theory” with characteristics like Centralized authority, Clear lines of authority, Specialization and expertise, Marked division of labor, Rules and regulations, Clear separation of staff and line. And forces of light represented as “Human relations school”. and enumerates their characteristics as: Delegation of authority, Employee autonomy, Trust and openness, Concerns with the whole person and Interpersonal dynamics. Now this describes the difference between the organizational perspective of 20th century and 21st century, Forces of darkness represents the “Organization as Rationale Systems” and Forces of Light represents “Organizations as Open systems”. These two concepts of organizational theory has been under rigorous research by Theorists during 20th century. And finally Kurt Lewin's work in the 1940s and 1950s made people realize that organizational structures and processes influence worker behavior and motivation. Again in the last two decades, there has been a paradigm shift in Organizational sciences, especially in management theory and practice. And this paradigm...
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...has won several awards for innovation, for their commitment to diversity, and for their flexible work arrangements. It has always been a leader in the market with regard to its compensation. With a total strength of about 80, 0004 employees across the globe, and a total revenue exceeding $15 billion, it is one of the biggest and best‐known technology companies in the world. The organization believes in providing the employees whatever tools and technologies they need to achieve the best results possible; and the employees are expected to create software and entertainment products that could sell millions of copies worldwide. The office campuses at most locations are considered the benchmark of technology hubs, with fir trees, forested trails, snow‐capped mountain vistas, basketball courts, and even shuttle buses for employees to make use of. Employees at Microsoft are recognized as the intellectual fuel and are provided with various benefit plans and resources, which are designed to retain them. The way the business and HR strategy have been intertwined at Microsoft is an example of how the businesses that are run with common goals and vision make money for their investors and employees. The amount of investment that Microsoft has done for its employees and how well the HR Managers have been able to align the work culture to the business strategy is clear from the results the company has posted year after year. From being a geek’s playhouse in 1980s to being a company that...
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...Under Pressure Implications of Work-Life Balance and Job Stress Human Solutions™ Report | 2006–07 Fall 2006 Dear Valued Customer: Welcome to the first Human Solutions™ Report: Under Pressure. Implications of Work-Life Balance and Job Stress. The report was written by Graham Lowe, PhD, a thought leader in the arena of workplace health and productivity. This is the first of a series of empirical reports that we will publish for you on an annual basis, each on a relevant and timely topic or theme. The Human Solutions™ Report stems from our pledge to bring you relevant and practical recommendations concerning your most significant human capital-related issues. And it reflects our attempt to counter the wealth of unsubstantiated and potentially misleading information about workforce issues circulating in the general media and other sources. In this Human Solutions™ Report , we analyze two comprehensive Canadian workforce surveys using key questions pertaining to work-life balance and job stress. We recognize that quality of work-life is a pressing business issue for you and a necessary ingredient for a successful business strategy. Yet to craft effective solutions to work-life issues, it is paramount that you have solid evidence on the scope and nature of the problems that are faced. This is what the Report endeavours to provide. As a customer whose opinions are important to us, we welcome your feedback. As well, we look forward to hearing about topics and issues you would...
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...Five Functional Areas Of Human Resource Management Five Functional Areas of Human Resource Management (HRM) HRM has five functional areas that include: Staffing, Human Resource Development (HRD), Compensation and Benefits, Safety and Health, and Employee and Labor Relations. Staffing Achieving organizational objectives requires having the proper number of employees with the appropriate skills. Staffing accomplishes this objective through four tasks. The first task is job analysis, which examines specific job functions in determining the skills, duties and knowledge required for each position. The second task is ensuring that the required numbers of employees, with the appropriate skills, are available when needed organizations engage in Human Resource Planning (HRP). The third task is recruitment, which is the process of attracting enough skilled people to apply for jobs in the organization. Fourth, the last step in the staffing process, is selection. This involves choosing the best suited individuals to fill the open positions in the firm. Human Resource Development (HRD) Six functions, including training, development, career planning, career development, organization development and performance appraisal, make up Human Resource Development (HRD). * Training: is a process designed to provide employees with the knowledge and skills needed for their present job. Focusing on long-term learning needs is development. The ongoing process of career planning sets career goals for...
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...SAIL'S VOLUNTARY RETIREMENT SCHEME Case Code-HROB002 Published-2003 INTRODUCTION At a meeting of the board of directors in June 1999, the CEOs of Steel Authority of India's (SAIL) four plants - V. Gujral (Bhilai), S. B. Singh (Durgapur), B.K. Singh (Bokaro), and A.K. Singh (Rourkela) made their usual presentations on their performance projections. One after the other, they got up to describe how these units were going to post huge losses, once again, in the first quarter[1] of 1999-2000. After incurring a huge loss of Rs 15.74 billion in the financial year 1998-99 (the first in the last 12 years), the morale in the company was extremely low. The joke at SAIL's headquarters in Delhi was that the company's fortunes would change only if a VRS was offered to its CEOs - not just the workers. BACKGROUND NOTE |SAIL was the world's 10th largest and India's largest steel manufacturer with a 33% share in the domestic market. In |[pic][pi| |the financial year 1999-2000, the company generated revenues of Rs. 162.5 billion and incurred a net loss of Rs 17.2 |c] | |billion. Yet, as on February 23, 2001, SAIL had a market valuation of just Rs. 340.8 billion, a meager amount | | |considering the fact that the company owned four integrated and two special steel plants. | | |SAIL was formed in 1973 as a holding company of the government owned steel and associated input companies. In 1978, the| | |subsidiary companies...
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...(HRM) in recent decades. Traditionally, the HR function has been viewed as primarily administrative, focusing on the level of the individual employee, the individual job, and the individual practice (Becker, Huselid, and Ulrich, 2001), with the basic premise that improvements in individual employee performance will automatically enhance organizational performance. In the 1990s, an emphasis on strategy and the importance of HR systems began to emerge. Both researchers and practitioners began to recognize the impact of aligning HR practices with organizational strategy. HR has now emerged as a strategic paradigm in which individual HR functions, such as recruitment, selection, training, compensation, and performance appraisal, are closely aligned with each other and also with the overall strategy of the organization. This new approach of managing human resources has introduced a more strategic role of HRM in an organization. Globalizations, technological advance, changes in the nature of work, changes in workforce demographics are the factors that demand more strategic role of HRM in management. In order to play a more strategic role as a HR manager you need to involve in many tasks like creating strategy execution role, creating formulation execution role, creating a strategic HRM system, creating high-performance-work system, translating strategy into HR policy & practice, and creating a HR scorecard process. 2. WHY AS A HR MANAGER YOU NEED TO PLAY A MORE STRATEGIC ROLE IN...
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...The Evolution of HR: Developing HR as an Internal Consulting Organization Richard M. Vosburgh, Mirage Resorts, MGM MIRAGE A s the role and impact of the HR profession continue to evolve, we have reached a critical crossroad. Together and now, business leaders and HR professionals have the opportunity to understand the history that brings us to our current situation, to be informed by predictable trends, and to make the transformation necessary to result in organizational competitive advantage and HR functional viability. Over the last hundred years, the HR profession evolved dramatically, usually in response to external conditions. Unquestionably we are changing—the issue in front of us is whether we will define that future or simply react to the changes that continue to occur in the economy and in our business models. Human ResouRce Planning 30.3 11 If we do not step forward with compelling HR leadership, the future will be determined for us. When the June 2005 Business Week reports “Why HR Gets No Respect,” the August 2005 Fast Company proclaims “Why We Hate HR,” and the “evil personnel director” in Dilbert continues to get knowing laughs, something is going on that the HR profession needs to address. This set of issues goes beyond the never-ending lamentations about lacking a seat at the table for the top HR person—this is about the future of HR in total. We present a historical review and conclude that HR’s greatest opportunity is to develop the organizational...
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...RENAISSANCE LEADERSHIP Transforming Leadership for the 21st Century J. Martin Hays and Choule Youn Kim THE AUSTRALIAN NATIONAL UNIVERSITY Key Words: |Leadership |Management Education |Future Trends | |Leadership Development |The New Millennium |Leadership Competencies | ABSTRACT Conventional leaders and leadership of the past are insufficient to meet the demands of the 21st Century. As we enter the new millennium, our world is characterised by unprecedented complexity, paradox, and unpredictability. Change is rapid and relentless. Today’s leaders face demands unlike any ever before faced. Standard leadership approaches that have served us well throughout much of history are quickly becoming liabilities. Conventional wisdom regarding leadership and many of its habits must be unlearned. The strong, decisive, charismatic, and independent leader and leadership we have idealised, strived to be, depended upon, and longed for may prove counter-productive in the new millennium and undermine a sustainable future. The challenges and opportunities of the 21st Century call for a new type of leader and leadership, indeed an entirely new and different way of thinking about leadership and of developing future leaders. This paper explores the nature of the nascent millennium and the leader and leadership qualities and capabilities expected...
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