1. Articles related HR issues
By- Anita Sharma
Prestige Institute Of Management, Gwalior

2. 1. Money and lifestyle issues are major drivers of
career change, a survey
The findings are part of the ‘Kelly Global Workforce Index', which
obtained the views of approximately 97,000 people in 30 countries,
including India. The survey highlights that the main cause, cited by
36 per cent of the respondents for change in career is the need for
improved work-life balance, followed by the need for higher income
and changing personal interests as shared by 23per cent and 21
per
cent respondents respectively. One of the major reasons for change
in career stated by 75 per cent of respondents is that they believe
they could resume their career at the same level after taking a
break for maternity/paternity leave, illness or extended holidays.

3. Key findings:
• Most important element in an individual's career were
cited as :-
• Experience (80 per cent)
• Formal education (20 per cent)
• 60 per cent of the respondents said that when looking
for a job, the best indicator of a person's talent is
-Work experience (24 per cent)
- Performance in job interview (23 per cent)
- Education (9 per cent)
- Job references (8 per cent)

4. Cont…..
• 55 per cent of the respondents anticipate changing their career
within the next five years
• While determining the cause of changing their career,
respondents voted for
-Better work-life balance (36 per cent)
-Need for higher income (23 per cent)
-Personal interests changing (21 per cent)
-Concerned about industry getting declined (8 per cent)

5. Cont…..
• 94 per cent of respondents aspire for an executive
position

7. 2.The changing role of HR
• Shifting workforce demographics, rapid changes in technology and the
globalization of world economy have resulted in a shift in the way businesses
operate and consequently the way HR functions.
• Usually, at least in the past, HR has had the misfortune of being considered as a
necessary, but yet unessential or unproductive department in an organization. It
was considered an administrative doer rather than a strategic partner and
catalyst. HR in that context merely meant regular administrative and record-
keeping functionalities. This perspective though, has rapidly changed in today's
knowledge era.
• Human resource initiatives are a reflection of what we are seeing in today's highly
volatile and competitive business environment; where technology, trends and
consequently workforces are in a state of constant flux. It is in this light that HR is
being perceived differently and is being elevated to a leadership role and that of a
key business partner.

8. Cont…..
• In this new model, HR assumes a more strategic role. It contributes towards the
planning, formulation and accomplishment of organisation objectives. It then
creates its own objectives in line with the overall business objectives, thereby
impacting every aspect of its services.
• One of the synonyms of this knowledge era is change and consequently
unpredictability. Here, HR plays a key and pivotal role in identifying the capability
gaps that consequently arise. A capability gap is the difference between the
ability of existing systems to meet operational requirements and of what's
expected of it. It's the lack of knowledge, skills and abilities in the current system
to meet set organizational/individual goals or expected capability.
•
It identifies these gaps and works closely with the management to fill these gaps
by obtaining the appropriate resources, training available resources and through
other means. Successful organizations are those that are flexible and are quick
to adapt; needless to say the HR team plays a crucial role in this process of
adapting.

9. Cont…..
• As a link between the employee and the employer, the HR manager, plays a key
role in advocating cordial relations between the two.
• It is also the responsibility of the HR to champion change in the organisation, as
and when required. It's up to the HR to bring about the changes with the least
amount of employee dissatisfaction.
• Now, although some of these duties have always been performed by the HR
department, it's in the increasingly consultative & strategic partnership role that
we find the new and changing role of the HR.

11. 3. Compensatory trends differ with age
• Today, companies cater to several generations of
employees. We discover how the conglomeration of their
distinct compensatory needs can be dealt with
• A study conducted by the UK based firm YouGov revealed that young workers in
the 18-24 age category were most attracted to gym membership (8 per cent) and
staff development/talent management programmes (5 per cent), while 25-34-
year-olds were driven mainly by money, with 35 per cent being most interested in
bonuses. 45 per cent of 35-44-year-olds, however, rated a positive corporate
culture most highly. On the other hand, middle-aged personnel (aged 45-54)
found flexible working the most appealing option (56 per cent), while over 55-
year-olds were keen on receiving health insurance (20 per cent).

12. Cont……
• "Youngsters today are interested in tangible and real-time benefits that offer instant
gratification such as retailer deals, concierge services that help them accomplish tasks
sitting at their desks, movie tickets, discounts, preference with banks for loans and so on;
whereas the older generation prefers wellness- and development-oriented benefits. They are
also concerned about their child's education," says Rajita Singh, head HR, Broadridge
Financial Solutions (India).
• It is thus important to have a 180-degree feedback process to produce tailor-made solutions
for your diverse population, says Kavita Rao, head HR, Unisys India.

13. Different generations, different needs:
• 1) Gen Y (entered workforce in 2007): Their compensation & benefits
preferences: lifestyle benefits, saving plans, educational programmes, advice on
money management;
• 2) Gen X (entered workforce in 1993): Their compensation & benefits
preferences: maternal benefits, wellness programmes, work-from -home option,
life-insurance flexibility;
• 3) Gen Jones (entered workforce in 1981): Their compensation & benefits
preferences: college savings plans, financial advice and guidance, fitness advice;
• 4) Early Boomers (entered workforce in 1971): Their compensation & benefits
preferences: critical illness insurance, chronic condition management, cancer
screening, retirement plan.