Human Resource Management In The 21st Century Management Essay (Essay Sample)

Human Resource Management in the 21st Century
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Human Resource Management in the 21st Century
The future promises significant challenges, such as technology changes, fierce competition, increased globalization, and demographic shifts that human resource management (HRM) must adjust to overcome. Companies striving to develop a sustainable competitive edge must have a well-established HRM team with adequate innovative techniques and modern technologies to handle these incredible demands. Such dynamics require the HRM to adjust their roles to perform fundamental functions that would increase the value of an organization in its endeavors to remain competitive. An innovative HRM, therefore, would efficiently navigate through future challenges entailing sustaining business values and ethics, recruitment and retention, fostering organizational culture, and career development.
Managers play a vital role in paying keen attention to business values and ethics. With the recent developments in workplace strategies and organizational structure, it is more indispensable to establish values and ethics to determine corporate sustainability in the global market. The HRM department, however, encounters many ethical hazards that may ruin the reputation and financial viability of a firm (Chuang, Jackson & Jiang, 2016). Consequently, the company might experience reduced efficiency and productivity. To enhance productivity, the HRM is bound to handle various ethical issues or challenges as it directly deals with employees of an organization.