Page 42 - Banking Finance November 2022

ARTICLE

Current Trends in HR Operation
The world has witnessed a deluge of transpositions in the
last decade pertaining to the approach and treatment in
dealing Human Resources. Ascent of digital technology such
as Machine Leaning and Artificial Intelligence and its
inclusion in HR industry, magnification of gig economy, the
accelerated thrust towards workforce diversity and most
recently the global pandemic has transformed the outlook
and forced the organisations to reconsider the HR polices
and guidelines. Some of the major HR trends which are
expected to continue and must be catered by Human
Resource Management System are :

Continuance of the Concept of Virtual Work
Acknowledging individual preferences in
The pandemic has resulted in the transposition of
determining of ways of task accomplishment
traditional work model with that of flexible and work
centric model characterized by recognition of work- Constituting new scheduling and meeting norms.
from-home culture and the growth of gig economy. Experts have opined that the digital HR exceeds in
Various companies are moving into the space of full-time collaborating changes which would lead to the
work from home model wherever possible drastically
transformation-based initiatives. The process involves
changing the ways of getting the job done. For instance,
harnessing the advantages of the social, mobile,
Twitter has decided for employees who maintain servers analytics and cloud-based technologies in optimization
may permanently work from home if they propose to
and improving the efficiency of HR functions, and also
do so. Similarly, Microsoft have announced that certain caters towards cultural calibrations, talent convenance,
portion of the job schedule would be permanently structures and processes leading to equivalence
performed under work from home and enabling the
between efficiency and originative opportunities
employees with docility to acclimatize with the work resulting in a transparent, sustainable and quantitative
style best fit with their lifestyle. Surveys and research
impact on the organization in its perpetual
conducted by various organization have revealed that metamorphosis.
majority of the respondents have opined for work from
home in some capacity even after the pandemic is over.
Teams play an indispensable role
Thus, it becomes pertinent for the organization to
Abstraction and formulation of virtual team is playing a
incorporate the functionalities in the Human Resource
decisive role presently in the virtual workspace and is
Management system which would lay more emphasis
expected to be one of the success determinants in the
on the job scheduling to accommodate the remote and
future. As per Deloitte, 'superteam' comprising of people
digital work environment in the future.
and technology shall outperform on a greater scale on
fulfillment of the following criteria :
More emphasis of digital first work
Work culture that promotes growth, adaptability
With the gradual shift of the workplace towards virtual
and resilience
arena, organizations have to introspect the influence
Upskill, reskill and mobility being the capable
of such digital move on its culture and values. The 2021
workforce enablers
Deloitte Global Human Capital Trends report, mentions
about the prime factors involved in formulating a viable Enforcement of new HR systems and technologies
remote work environment and includes: It is equally important to realise that the success of such
Inception of digital collaborative platforms superteams depends also on the impartment of relevant

42 | 2022 | NOVEMBER | BANKING FINANCE