Julie Beardwell and Tim Claydon, in their book have asserted that the theoretical concept of human resource management has become ‘fuzzy concept’ with abstract empiricism and needs to be looked from a wider perspective of providing the invaluable human capital that can meet the challenges of the rapid globalization and advancing technology (Beardwell &. Claydon, 2007). With global competition becoming increasingly stiff, the job’s specifications are becoming less rigid and changing the overall perspective of job criteria and employment. The compulsions of the present times require versatility in the working force. Individuals and firms must embrace the culture of multi-skilled professionals that are able to meet the challenges with efficiency and unmatched proficiency.
The recent concept of externalization of ‘resources’, through outsourcing, has become popular with the organizations that need to concentrate on their core competencies. The contractual workforce serves to decrease the responsibility of the organization towards the people who would be ‘indirectly’ doing their work and at the same time, providing them with the opportunity to improve and improvise their business competencies through state of the art research and development. The strategy helps to provide the company with huge leverage in innovative products and services.
The workforce is the backbone of an organization and the HR strategy needs to develop its unique organizational culture with well-defined vision and mission statements which are effectively communicated to their employees. As employees are a very important part of organizational culture, their welfare is an intrinsic part of corporate responsibility. In the era of advancing technology and rapid globalization, it is imperative that the workforce is encouraged to share mutual knowledge and ideas but they must also be involved into collective decision making to work towards common goals.
Hence, the fast-changing global values have necessitated a drastic shift in the approach to traditional HR strategy. The increasingly changing pattern of society, which is becoming multicultural in essence, needs to be addressed in the wider application of social imperatives and included in all spheres of public and private business strategy. The businesses must introduce effective strategic goals and managerial controls that are able to address the emerging challenges of the society at large. The new HR strategy, therefore, must take account of the various factors that are intrinsically linked to people.
The globalization has ushered in a huge database of human capital whose potential needs to be exploited to realize one’s own vision and mission. The contemporary times have redefined the business processes and business houses are becoming less rigid and changing their business and market strategy as per the socio-economic compulsions of the region. . .