60 HR Predictions

60 HR Predictions

The top 10 predictions in Workplace Flexibility, Global Business, Work and Society, Workforce Development, Definition of Jobs, and Strategic Role of HR.

Workplace Flexibility
1. Collaborative cultures will be the workplace model.
2. Creative employment contracts will support more time off, flexibility in hours and work location, technological job aids and more pay at risk with significant upside potential.
3. Company intranets will become a major tool for communication, training and benefits administration; HR will play a leading role in developing this important tool.
4. Intelligence through knowledge transfer capability will separate the best employees from the rest.
5. Employees will have more and more choices about work arrangements, allowing them to meet their individual needs.
6. Work hours scheduling will become less important as organizations focus on performance and results.
7. Company facilities will become Virtual through work-at- home, telecommuting and outsourcing.
8. The workweek will be less structured-employee s will still work 40-plus hours, but at varied times and places other than the office.
9. Legislation will lead to greater portability of health, welfare and retirement benefits.
10. Free-lance teams of generic problem solvers will market themselves as alternatives to permanent workers or individual temps.

Global Business
11. The role of corporate HR will change to that of creator of overall values and direction, and will be implemented by local HR departments in different countries.
12. Technology, especially the Internet, will enable more businesses to enter the global marketplace.
13. HR professionals will have advanced acumen in international business practices, international labor laws, multicultural sensitivities and multiple languages.
14. HR professionals will need to be knowledgeable of other cultures, languages and business practices to help their companies find and enter more markets.
15. HR people will have to understand other cultures and help people work with, and transfer among, various cultures.
16. Mega global business alliances will grow in number and scope, requiring great finesse on the part of the HR professional.
17. There will be an explosive growth of companies doing business across borders, and it will be the most significant change for the economy in modern times.
18. Cultural understanding and sensitivity will become much more important for the HR professional of the future, whereas multiple language ability isn't going to become a necessary competency.
19. The continued emergence of a world marketplace will require development of an international workforce.
20. Small teams of HR professionals will focus on providing performance improvement consulting services to a variety of locations around the world.

Work and Society

21. Family and life interests will play a more prevalent role in people's lives and a greater factor in people's choices about work- there will be more of a "work to live" than a "live to work" mentality.
22. Employees will demand increases in workplace flexibility to pursue life interests.
23. Dual-career couples will refuse to make the sacrifices required today in their family lives and more people (not just women) will opt out of traditional careers.
24. Families will return to the center of society; work will serve as a source of cultural connections and peripheral friendships.
25. Workers will continue to struggle with their need for work/life balance, and it will get worse.
26. Integration of work with quality-of-life initiatives will create solutions to problems formerly seen as the responsibility of government.
27. Community involvement and social responsibility will become part of an organization's business vision.
28. "Cocooning" will become more popular as workers look to their homes for refuge from the pressures of a more competitive workplace and depersonalized society.
29. Just as defined-contributio n plans have begun to take over from Social Security, companies will take on responsibility for elder care, long-term care and other social needs through cafeteria-style benefits programs.
30. Those people who refuse or are unable to adapt to new technologies will find they're working harder and accomplishing less.

Workforce Development

31. Lifelong learning will be a requirement.
32. The focus of training/learning activities will be on performance improvement and not just on skill building.
33. Employees with varied skills and competencies will be valued more highly than those with a depth of expertise in a single area.
34. Problem solving and decision-making will become a required curriculum with practical work problems as the training medium.
35. Training will be delivered "just in time," wherever people need it, using a variety of technologies.
36. Companies will demand constant personal growth, and employees will respond positively to higher expectations.
37. It will not be possible to survive in the workplace without basic computer skills.
38. People who can learn new skills/competencies quickly will be highly valued in a faster changing world.
39. Team projects and special assignments will be a major factor in personal development.
40. As the computer-savvy generation is more assimilated into the workforce, employees will become much more productive in complex tasks and less dependent on other people and departments.

Definition of Jobs
41. Organizations won't pay for the value of the job but for the value of the person.
42. Versatility will be the key factor in determining employee value with strategic thinking, leadership, problem solving, technology and people skills close behind.
43. Compensation systems will be linked to business outcomes.
44. All jobs will require higher levels of computer skills.
45. Positions will be organized in teams focused on a task, not organized around a hierarchy.
46. Positions will be defined by the competencies needed to be performed.
47. Employees will be more independent, moving from project to project within their organizations.
48. Many jobs will be redesigned to be much broader in scope, especially in management positions, resulting in leaner head counts.
49. Employees will be increasingly measured by how much value they contribute to the business, not by whether they fulfilled predetermined objectives.
50. Work will be more challenging, and jobs will become increasingly complex.
Strategic Role of HR
51. Successful HR departments will focus on organizational performance. HR's value will be to have the right people ready at the right time: recruiting leaders to join the company's mix of talent and keeping the "bench" full of enabled, competent workers.
52. The focus of the HR function will be human capital development and organizational productivity; HR may be renamed to reflect this.
53. HR will evolve from strategic business partnership to strategic business leadership (driving change and results, not just monitoring them).
54. A key HR role in the future will be multidisciplinary consulting around individual, team, business unit and corporate performance.
55. Managers will grow to depend more and more on HR professionals as they realize that good people management can be the strategic advantage in the next decade.
56. Leading change will become HR's greatest contribution to the corporation.
57. More and more businesses will use HR as a strategic partner.
58. HR will have a "seat at the table" as part of the top management team and report directly to the CEO in most companies.
59 . A key HR role will be managing increasingly scarce human and intellectual capital.

Team HR At The Helm Of Cascading Best Of All The HR Strategies And Practices & This Compilation Efforts Is Made By:

HARI NAIR

10 Financial tips to consider during a job change

Have you considered moving jobs recently? Did you think of how it might affect your personal finances? Changing jobs is not just about getting a higher salary, but rather about many things that can affect your financial situation in the long run. When considering changing jobs, avoid short-term gains, and remember to keep the following tips in mind regarding your personal finances.

1. Higher salary shouldn't be the only reason
2. Timing
3. Negotiating your Cost to Company (CTC)
4. Pricing yourself out of the market
5. Performance evaluation criteria
6. Notice period
7. Form 16 and tax issues
8. Shifting your PF balance and Superannuation
9. ESOPs
10. Insurance

1. Higher salary shouldn't be the only reason: Often the stimulus to move jobs is a higher salary, with little regard for quality of the work, the employer's brand name, career prospects, the potential for enhancement of skill level and opportunity to assume more responsibility. Don't totally ignore these soft issues just because you are getting a higher salary offer.
2. Timing: Candidates often argue that "I am just about to get my annual appraisal and my salary is expected to go up by 20%, so if I move to your organization, it will be for at least a 25% salary hike." If you are so confident about a salary hike, and are happy at your current job, why move at all. If you do want to move for other reasons, time your move such that you have your increment in the bag, and have a better negotiating ability in an interview.
3. Negotiating your Cost to Company (CTC): Even if the actual CTC is the same as your previous job, structure your CTC so that your cash in hand can be higher than what it might have been at the previous job. This might be particularly important given the new rules announced in the Budget in July 2009 under which fringe benefits offered to you are now going to be taxable in your hands as perquisites. Understand how you can maximize your take home pay, because that is what matters at the end of the day.
4. Pricing yourself out of the market: Today there are several junior employees in organizations with very little experience but with high CTCs because of having moved numerous jobs in rapid succession. They don't realize that the high salaries they are getting are not usually because of their performance, but often because the base level has gone up every time they have changed jobs. But without a commensurate increase in their experience or skill level, there will come a time when they could find themselves at a dead end or priced out of the market. Employers want staff that can add value to the organization, and not just get paid a high salary because that is the expectation for that industry.
5. Performance evaluation criteria: Understand the basis of your performance evaluation in your new job, and preferably have the key performance targets given to you in writing so that there is no ambiguity at the year-end review at the time of your bonus payment. Don't make job change decisions in haste without understanding whether what is expected of you is realistic or not. Stretch yourself in the new job to develop skills and gain experience, but don't set yourself up for failure.
6. Notice period: Respect the notice period owed to your current employer. Don't make a short-term decision to abandon your current job without any notice - it can come back to hurt you if you acquire the reputation in your industry of someone who does not respect common professional courtesies. See if you can buy out your notice period from your employer.
7. Form 16 and tax issues: At the end of the financial year take your Form 16 from your previous employer and share that with your new employer, so that the right amount of tax is being deducted and that you are not getting more deductions than you are entitled to. Remember to also take a no dues certificate, relieving letter, salary slips for the duration you have stayed.
8. Shifting your PF balance and Superannuation: This can be a big administrative issue for you if you have not moved over your retiral accounts to your new firm. Take care of the necessary paperwork to facilitate a smooth transition of your account to your new employer.
9. ESOPs: Don't leave a lot of value on the table if you have worked hard to earn incentives. If your current employer gave you ESOPs, understand if you are eligible to encash these at all. If you are giving up a lot of value because not all your shares have vested, you might want to ask your new employer to offer you similar upside as an incentive to move to the new job.
10. Insurance: If your current employer was offering you and your family life and health insurance coverage, recognize that you might need this from your new employer as well. Do not remain uninsured during the transition period from one job to another. Accidents and emergencies come unannounced and don't put yourself or your family at risk by not having appropriate insurance coverage. Additionally, understand what are the insurance benefits you will be eligible for at your new job and whether you will have to serve for a minimum few months before your coverage kicks in.

Source: http://www.itrust.in

Compiled by Amresh Anjan

HR Headlines: July-09 (Part-5)

IT Firms Increasing Training Period For Fresher’s

With an objective to make entry-level employees better equipped to meet the future needs of the industry, IT services firms are doubling the training period for fresher’s. Companies are planning better training for fresher’s even if it means a rise in costs for the firms. Besides, it would mean a delay in deployment of people for revenue-generating projects. TCS has increased the training period from three months to six months from the first quarter of FY2009-10. Infosys Technologies has increased its training period from three-and-a-half months last quarter to 26 weeks in the first quarter of the current fiscal.

Source: 24-07-09 www.dnaindia.com Compiled by Amresh Anjan

Accenture Fails To Meet Hiring Target In India

In the wake of the global economic slowdown, Accenture has failed to meet its hiring target in India for the current year. The company had targeted its India headcount to touch 50,000 this year from 37,000 as of April 2008. However, it recruited just 3,000 in the last one year, short by 10,000 heads. The firm is hiring on need basis and is willing to get people on board at both entry and domain knowledge level.

Source: 24-07-09 www.dnaindia.com Compiled by Amresh Anjan

TCS Is 5,000 Employees Leaner

Nearly 5,000 employees have recently exited Tata Consultancy Services. In the last quarter, TCS added a total of 2,828 employees to its headcount taking the total employee count to 1,43,761 at the start of the quarter. With the newly appointed staffers, the total staff count should have been 1,46,589 by the end of June. However, as of June 30, 2009, TCS had a head count of 1,41,642, bringing the total headcount down by 4,947 employees. Also, TCS has recalled close to 1,200 employees from the US and has decided not to hand out any salary increment this year.

Source: 23-07-09 www.rediff.com Compiled by Amresh Anjan

"Special Leave" Is Not Employees’ Right: SC

In a recent ruling, the Supreme Court has decreed that government employees cannot avail special leave as a matter of right as the same depends on the exigencies of the administration. With this ruling, the apex court has struck down a direction passed by Punjab and Haryana High Court. SC has said that an employee cannot claim the leave merely because his contemporaries or others have been extended similar relief. Government employees normally enjoy special leave facilities extending up to five years.

Source: 22-07-09 www.zeenews.com Compiled by Amresh Anjan

Now, Air India Delays Payment Of Incentives

After delaying June salaries, the cash-strapped national carrier Air India has deferred productivity-linked incentives, or PLIs, to all its employees until 20 August. However, it will pay salaries for July at the end of the month. The PLI payments have been delayed as a four-member committee has been appointed to review and revise the PLI parameters. The annual wage bill of the carrier stands at about Rs3,000 crore per annum and PLI accounts for almost half of this amount.

Source: 23-07-09 www.livemint.com Compiled by Amresh Anjan

Income Tax Dept Facing Acute Staff Shortage

The Central Board of Direct Taxes has recently submitted a report to the government saying that the income tax department needs to recruit at least 8,965 officials within the next five years for smooth functioning. This estimate includes an extra 760 sanctioned personnel in the Indian Revenue Service. Other than this, the department needs to create 42 posts of principal chief commissioner of Income Tax (Principal CCITs), 74 CCITs, 116 Senior CCITs and Deputy CITs.

Source: 21-07-09 Business Standard Compiled by Amresh Anjan

Govt. Estimates 1 Cr New Jobs In Village Industries

According to government estimates, the total employment in the khadi and village industries sector will touch over 1 crore (10 million) by the end of current financial year from nearly 93 lakh in the previous fiscal. According to the annual report of Ministry of Micro, Small and Medium Enterprises for 2008-09, the village industries are projected to have 100.25 lakh jobs by end of 2009-10, whereas the khadi sector is estimated to have 10 lakh jobs during the period.

Source: 21-07-09 www.rediff.com Compiled by Amresh Anjan

Staff Crunch In Surat's Diamond Industry

The Rs 50,000-crore (Rs 500-billion) diamond industry in Surat had to lay off thousands of workers in the past few months amid falling demand due to the economic downturn. However, as the demand is reviving, the industry is facing acute crunch of skilled manpower. The laid-off workers have mostly switched to sectors like textile and agriculture and are apprehensive about returning to diamond processing after their recent experience of being laid off.

Source: 23-07-09 Business Standard Compiled by Amresh Anjan

Wipro Hiring Local Talent For Overseas Projects

In a bid to stem the anti-outsourcing sentiment in the US currently, Wipro is planning to hire more locals for its overseas projects, especially in the US and Europe. Local talent is being increasingly hired for front-end sales, support roles and as client managers.

Source: 23-07-09 Business Standard Compiled by Amresh Anjan

Yes Bank To Recruit 900 People

Private sector lender Yes Bank plans to recruit more than 900 people in the current financial year (2009-10) to boost expansion plans in key segments. The bank reported 84 per cent jump in its net profit for the first quarter ended June 30.

Source: 21-07-09 www.financialexpress.com Compiled by Amresh Anjan

OBC To Add More Than 1,500 Personnel During 2009-10

Oriental Bank of Commerce (OBC) has announced plans to hire over 1,500 employees, during 2009-10 to meet its growth targets. The bank plans to expand its branch network to 1,500 branches and has applied for 117 branch licenses. This will include around 100 marketing managers and 83 agriculture officers. In 2008-09, the bank recruited 1,427 personnel, including 191 agricultural officers.

Source: 22-07-09 www.financialexpress.com Compiled by Amresh Anjan

UAE Introduces New Wage Protection System

The UAE government has issued a decree according to which all institutions registered with the labour ministry will have to pay their workers' wages and salaries from September this year through a new system called the Wage Protection System. The system involves transfer of salaries and wages through selected financial institutions, authorized and regulated by the government. The system has been introduced to protect the rights of workers in the country. This will ensure that workers are not subjected to any deductions or charges to get their salaries.

Source: 23-07-09 www.rediff.com Compiled by Amresh Anjan

Porsche CEO And CFO Quit

In a much-anticipated move, Porsche's CEO Mr Wendelin Wiedeking and CFO Mr Holger Haerter have quit the company, thus paving the way for a merger with fellow German carmaker Volkswagen. Porsche already owns more than 50% of VW. Mr Wiedeking will be replaced by 48-year-old Mr Michael Macht as CEO.

Source: 23-07-09 www.shortnews.com Compiled by Amresh Anjan

3-Year Wage Settlement Contract Between Hyundai And Its Workers

Car maker Hyundai Motor India Ltd (HMIL) has signed a three-year wage settlement contract with its workers. The settlement comes on the backdrop of protests by workers demanding the right to organize a labour union. The Hyundai Motor India Employees’ Union formed in 2007 has around 1,150 members but the workers allege that the company had not acknowledged its existence. The recently signed contract would also apply to their 1,600 technicians.

Source: 24-07-09 www.livemint.com Compiled by Amresh Anjan

Unemployment Rate Over 10% In 15 US States In June

According to federal data, unemployment rate in the US stood over 10% in 15 states and the District of Columbia last month. The rate in Michigan topped 15%, the first time any state hit that mark since 1984. According to the Federal Reserve projections, the national unemployment rate, currently at a 26-year high of 9.5%, will pass 10% by the end of the year. The other 14 states where unemployment topped 10% last month were: Alabama, California, Florida, Georgia, Illinois, Indiana, Kentucky, Nevada, North Carolina, Ohio, Oregon, Rhode Island, South Carolina and Tennessee.

Source: 18-07-09 www.livemint.com Compiled by Amresh Anjan

In UK, Recession Forces People To Take Up Part-Time Jobs

According to the Office for National Statistics in the UK, recession forced almost a million people to take up a part-time job because they could not find full-time work. In the three months to May, 927,000 people said they were working part time because they could not find a full-time job. Many UK firms are asking their staff to reduce their hours as they try to tide through the recessionary wave. For instance, British Airways has asked many of its staff to work part-time or take unpaid leave.

Source: 20-07-09 news.bbc.co.uk Compiled by Amresh Anjan

Cinepolis India Appoints Mr Ashish Shukla

The international film exhibitor Cinepolis India has recently appointed Mr Ashish Shukla as head of exhibition. Prior to this, Mr Shukla was head (infrastructure and development) at Bharti Retail.

Source: 20-07-09 Business India Compiled by Amresh Anjan

New Appointments At Web18

Web18, the internet and mobile arm of Network18, has appointed Mr Hatim Kantawalla as group editor and Mr Keshaw Sinha as vice president and head of technology. Prior to this, Mr Kantawalla was an associate publisher of PC Magazine, while Mr Sinha was head of the technology team at Zapak.

Source: 22-07-09 www.alootechie.com Compiled by Amresh Anjan

Mr Shivanand Mohanty Promoted At Dentsu

Dentsu Communications has promoted Mr Shivannad Mohanty to the position of Creative Head. In this role, Mr Mohanty will spearhead the agency’s creative function across its offices in Mumbai, Delhi and Bangalore.

Source: 18-07-09 www.exchange4media.com Compiled by Amresh Anjan

New Appointment At ESPN-Sports

ESPN-Star Sports has recently appointed Mr Jon Lefebvre as Vice President - Sales Operations and Strategy. Based in Singapore, he will be reporting to Mr Charles Less, Senior Vice President, Advertising and Multimedia Sales. Mr Lefebvre will be responsible for ESPN-Star Sports’ advertising sales and sponsorship strategies across seven sales regions covering South-east Asia, Japan and Hong Kong.

Source: 18-07-09 www.exchange4media.com Compiled by Amresh Anjan