Article on FUTURE OF HR

Over the last 40 years the HR has evolved… earlier we were performing administrative functions such as managing labor, Welfare, Establishment, Contracts, Processes, Salary Management etc. Then grew to focus on HR practices such as Staffing, Training, Organization Development, Succession Planning, Compensation structure etc. Then move to Strategic HR such as Organization Design, Talent Management, Compensation Design etc. Currently, we are looking at outside-in view… such as stakeholder view/perspective in mind – partnering with Business to deliver value…

Future of HR

The Workforce intelligence has been increasingly gaining relevance in today’s day and age – gathering information that is relevant to HR, aligning this data with decision-making and being a strategic partner in driving business is imperative

Four major factors impacting & will continue to impact Organization & shaping the future of work:

Globalization/ Technology/ Consumerization/ Generational Diversity & Multi-Generation workforce

In future, the people will be the key differentiators.

The Business Trends will be shaping the future of HR

• There will be rise in extended workforce
• Technology, advances will radically disrupt HR
• HR need to build agile organization
• Social media will drive the democratization of work
• HR to manage individuals with unique needs & preference

Need of future talent:

• Autonomy & freedom
• Reliance on Automated Self Service
• Higher flexibility & work
• Customized career paths
• Transparency & openness
• Opportunity to make a difference

Future HR Challenges:

• Managing Multi-Generational & Diverse workforce
• Attracting & retaining Talent (including leadership development)
• Customer/External interface
• Strategic alignment
• Increased litigation
• Work-life balance
• Competency & Capacity building within the function
• Developing leadership pipeline
• Build organization brand through people
• Balance between Technology & People
• Innovation, Research & Development
• Building & Sustaining Work Culture

Future HR Role

• Developing organization purpose – Vision/Mission
• Business Strategy & alignment
• Program development for leadership pipeline
• Effective communication
• HR to act as data analytics
• Managing remote & virtual workforce
• Digital know how
• Act like a Marketer & advocate on People Processes
• Review & audit

Future HR Skills

• Business & technology Understanding
• Consulting skills
• Leadership skills
• Global mindset
• Emotional Intelligence
• Complex Problem solving Ability
• Critical & Systematic Thinking
• Cognitive Flexibility
• Creativity & Innovation mindset

Test to Measure HR success:

• Does HR add Value
• Does HR work & sustain in Political/ Social/ Economical/ Technological environment
• Does HR able to Create a right organization & leadership
• Does HR able to retain the key talent
• Does HR contribution is appreciated by the CEO/Line Managers

According to Industry Business Leaders, HR is getting extinct in near future due to eruption of technological advancement, automation, AI and big data

To me, HR surely will stay in future but the way it was performing till now will change. The future HR will be focused on:

• Being powerful & Impactful
• Relying more on Technology
• Delivering through internal & external resources
• blurred line between HR & line managers
• becoming more Integrated with other functions

Bottom line is: As long as companies deal with PEOPLE, they will need HR & HRM would exist …… Only it needs to re-visit and re-align itself to be more value driven.

TIGER & HR ZINDA HAI…& will remain alive…

Deepak Bharara

Ex CHRO LANCO INFRATECH LIMITED