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HR Seminar’2018


“A Seminar on Financial Considerations in Managing HR”

18th August, 2018

Current practices of Human Resources Management suggest that expectations about HR roles are changing and organisations are striving to make the HR function leaner and more‘strategic’. Company culture still reigns supreme within the HR universe, but in 2018 HR trends have been focusing on attracting growth-driven workers to the companies that need them. Hiring professionals expect that HR technology trends will drive the workplace changes. With the technology taking a quantum leap, it is not only rapidly changing the way we work across different types of industries and job roles, but the industry which is also impacted by this change is the HR function. Considering the winds of change, it is imperative that we understand the newtrends that are needed to be prepared for the future of HR function. The emerging trends are likely to have financial considerations in Managing Human Resource from Recruitment to retaining the talents in the Organisation.

Shortage of people leads to missed opportunities, lost project bids and disappointed customers. Not having enough people with the right skills on the payroll can jeopardize a business. In a small business, the owner often wears the HR hat and carries the responsibility of finding the right labor mix to fuel his company's growth and competitiveness. The primary task of HR in developing a staffing plan involves analyzing existing jobs to create a list of workforce competencies needed. This inventory of current employees' skills, experience, knowledge and abilities gives HR a basis from which to identify candidates for promotions and career moves and serves as a tool for comparing current capabilities to those the organization needs to achieve its future goals and objectives. An organization's plans to enter new markets, introduce new products and incorporate new technology into its operation can change its labor requirements. Internal factors related to budgets, business seasonality and anticipated turnover also have an influence on the HR’s decision.

A small business may have to adjust its growth strategy or delay projects if its financial resources cannot support adding headcount. The economy, government policies, unions and competitive moves also affect the labor market. A healthy economy and increased competition may make recruiting more difficult and expensive. Human resource management's ability to plan effectively depends on the understanding of how these factors influence its organization. After compiling its skills inventory and information on projected business performance and anticipated market and economic conditions, HR determines how to provide appropriate staffing. Various options for acquiring new talent are hiring full-time, part-time, contract or temporary workers. Introducing a hire-from-within policy and career development programs for existing employees addresses particular skill gaps and improves retention. When the plan calls for a reduction in staff levels, options include early retirement incentives, layoffs, work redistribution and overtime. Building flexibility into the plan allows an organization, regardless of size, to react and adapt to changes throughout the year.

Objectives of the Seminar

To bring out the financial considerations that HR face when planning staffing needs

To understand the internal and external factors considered for managing HR and staffing needs.

 

To create awareness on financial considerations among HR managers in today’s corporate environment.

 

 

Seminar Date: 18thAugust 2018, Saturday

Registration: On or before 17th August, 2018.

Who can attend:

Industry Delegates, Academicians, Research Scholars, Students of UG and PG studies.

 

Registration Details

Industry Delegate:                                       

Research Scholars and Academicians:                                                                       

Students (UG and PG):                               

Contact:

Dr.S.Sundararajan

Associate professor, SIMS-MBA

Mobile: 9367153253

Email: srajansims@sankara.ac.in

 

Note: Registration fees include Kit, Lunch and tea during the seminar.


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