In the current business environment, there are perhaps five critical business challenges that need to be faced:
- Profitability through growth
- Intellectual capital and
- Constant Changes
Sweeping changes continue to reshape the workplace. Today’s HR professionals need to be more than simply an expert on personnel issues. He/she also needs to be an informed and skilled businessperson since HR professionals must play a key role in helping their organization remain competitive in the marketplace. HR professionals need to use their sense of commitment, inter-personal skills and training to help make their company a success. The environment of constant change means that they must pay particular attention to cultivating competencies in communications and decision-making skills. They must be able to present the vision of their company clearly. Within this, they must also have a clear and functional perception of the operational management needs. They need to examine and review existing procedures to ensure that improved solutions can be designed and built. They need to emphasize the importance of continuous progress and managing change through goal setting. And finally, they must ensure that the resulting organization is populated and driven by empowered employees.
Scope of HRM without a doubt is vast. All the activities of employee, from the time of his entry into an organization until he leaves, come under the horizon of HRM.
The divisions included in HRM are Recruitment, Payroll, Performance Management, Training and Development, Retention, Industrial Relation, etc. Out of all these divisions, one such important division is training and development.